Realtors survey shows jump in Iowa farmland value

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DES MOINES, Iowa (AP) — The value of Iowa farmland is up nearly 20 percent in the past six months, thanks to strong commodity prices, especially in livestock since last fall.

The Des Moines Register on Tuesday says the survey by the Iowa Farm and Land Chapter of the Realtors Land Institute shows the average value of all tillable cropland as of this month was $5,717 an acre.

That compares to $4,768 in September. The value is up nearly 25 percent from March 2010.

The Realtors' survey tracks with other surveys showing dramatic increases in farmland values boosted by big gains in prices for corn, hogs and cattle.

Troy Louwagie (lew-WAH'-jee) of Hertz Farm Management puts together the twice-annual survey. He says it's the biggest one-year jump since 1978.

Copyright 2011 The Associated Press.

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