Market for Land and Ag Equipment Continues to Show Strength
When the pace of farmland auctions picks up after a slow period, the first few major sales can reveal a lot about the marketplace. And so far, things are looking good for those with farmland to sell.
We saw that once again on April 3 in Peever, South Dakota, with the auction of 1,162 acres. The auction attracted a crowd of 40 registered bidders, resulting in a sale of the land for $4.48 million.
Approximately 498 acres of the land sold for $4,850 per acre – a strong price for the quality and location, according to representative Max Steffes.
“What we’re seeing overall is that demand is consistent across the board, both in live and timed online auctions. We never know what the future will hold, but for right now, for those who have farmland to sell, it’s a good time to put it on the market,” said Max. “The positive tone of the market also applies to equipment, which has been bringing some excellent prices.”
The April Online Auction of equipment, closing on Wednesday, April 11, should provide additional insights into the equipment market. The auction includes hundreds of pieces, including tractors, sprayers, air drill, tillage, balers, semis, trucks, trailers and other pieces.
“Our monthly online auctions have earned a vital role in the equipment marketplace, because we are able offer a wide variety of machines and equipment over an extended geographic area. Sellers and bidders alike have come to appreciate the efficiency of these events,” said Steffes.
The scores of offerings include four mechanical front wheel drive (MFWD) tractors, three two-wheel-drive tractors, six planters, nine pickup trucks, and many others.