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Farm Values Decline 2%

press play to hear from State Rep Larry Marek

The average value of an acre of Iowa farm land dropped for the first time in nearly a decade this year. Larry Marek farms near Riverside and serves in the state legislature. He says the roughly two percent decline isn’t cause for alarm, because the value of land seems to go through a cycle. Iowa State University Farm Economist Mike Duffy says this year’s slight decline has little bearing when compared to the fact that Iowa Farmland owners have watched their holdings increase in value by 145 percent on average over the last ten years.