Farmland values remain relatively steady

Economist says lower farm income, which dropped 55% in 2015, is not necessarily pulling farmland values with it.

Led by weak crop prices and exacerbated by a sharp decline in livestock prices, particularly for cattle, net farm income dropped significantly in 2015, according to a Federal Reserve Bank economist.

In fact, farm income has dropped 55% since 2013, said Nathan Kauffman, an economist who also serves as assistant vice president and Omaha, Neb., branch executive with the Federal Reserve Bank of Kansas City, Mo. Kauffman addressed farmers and ranchers from across the U.S. during a works

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