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Memorials are welcome anytime - The Graphic-Advocate

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September 21, 2011 Local News<br />

<strong>The</strong> <strong>Graphic</strong>-<strong>Advocate</strong> 3<br />

EXTENSION LINES<br />

From Iowa State University Extension<br />

Average Iowa farmland value is<br />

estimated to be $6,708 per acre,<br />

an increase of 32.5 percent from<br />

2010, according to results of the<br />

Iowa Land Value Survey conducted<br />

in November. This is the highest<br />

percentage increase ever recorded<br />

by the ISU annual survey. <strong>The</strong> 2011<br />

values <strong>are</strong> historical peaks.<br />

“<strong>The</strong> 2011 land value survey<br />

covers one of the most remarkable<br />

years in Iowa land value history,”<br />

said Mike Duffy, ISU economics<br />

professor and extension farm<br />

management economist who<br />

conducted the survey. “This is the<br />

highest percentage increase recorded<br />

by the survey, and the average land<br />

value of $6,708 per acre, when<br />

adjusted for inflation, is at an alltime<br />

high.”<br />

Scott County, with an estimated<br />

$9,223 average value for all farmland,<br />

saw the highest percentage increase<br />

and highest increase in value, 37.7<br />

percent and $2,524 respectively,<br />

of the 99 Iowa counties. However,<br />

O’Brien County farmland estimates<br />

of $9,513 were the highest average<br />

county values.<br />

“This rate of increase in 2011 has<br />

led to concerns that farmland may<br />

be the next speculative bubble,” said<br />

Duffy. “Some people feel farmers<br />

<strong>are</strong> setting themselves up for a fall<br />

similar to the 1980s. Without a<br />

doubt, it’s an interesting time and<br />

something to watch, but it isn’t a<br />

time to panic.”<br />

Duffy said that examining some of<br />

the causes for the current increase<br />

in farmland values and the reactions<br />

is helpful in assessing the situation.<br />

Farmland values <strong>are</strong> highly<br />

correlated with gross farm income.<br />

As gross farm income increases,<br />

so will land values. In 2005, corn<br />

prices averaged $1.94 per bushel in<br />

Iowa. <strong>The</strong> preliminary estimated<br />

price for November 2011 is $6.05.<br />

Soybean prices changed from $5.54<br />

to $11.40 over the same period.<br />

Net farm income has increased<br />

substantially and is projected to<br />

increase even more for 2011. <strong>The</strong><br />

Iowa State economist goes on to<br />

say, this increase in income has been<br />

the primary cause for the increase<br />

in farmland values, but not the only<br />

one.<br />

“<strong>The</strong>re <strong>are</strong> other causes for the<br />

increase,” Duffy said. “Interest<br />

rates <strong>are</strong> at the lowest level in recent<br />

memory. Farmland purchased by<br />

investors went from 18 percent in<br />

1989 to 39 percent of purchases<br />

in 2005, but investor purchases<br />

decreased this year to 22 percent.”<br />

Duffy believes farmland values<br />

should remain strong for the next<br />

several months at least. Beyond that<br />

there is a fair degree of uncertainty as<br />

to whether land values can maintain<br />

their current levels.<br />

<strong>The</strong> survey is based on reports<br />

by licensed real estate brokers and<br />

selected individuals considered<br />

knowledgeable of land market<br />

conditions. <strong>The</strong> survey is intended<br />

to provide information on general<br />

land value trends, geographical<br />

land price relationships and factors<br />

influencing the Iowa land market.<br />

It is not intended to provide an<br />

estimate for any particular piece of<br />

property. Only the state average<br />

and the district averages <strong>are</strong> based<br />

directly on the ISU survey data.<br />

<strong>The</strong> county estimates <strong>are</strong> derived by<br />

combining survey results with data<br />

from the U.S. Census of Agriculture.<br />

County 2011 Valuation 2010 Valuation Percent Difference<br />

Buena Vista $8,693 $6,535 33.0%<br />

Calhoun $8,617 $6,536 31.8%<br />

Cherokee $8,103 $6,061 33.7%<br />

Ida $7,851 $5,847 34.3%<br />

Pocahontas $8,411 $6,345 32.6%<br />

Sac $8,427 $6,328 33.2%<br />

Maps showing 2011 values, percentage change and comparisons to 2010 data and additional information from<br />

Duffy <strong>are</strong> available at www.extension.iastate.edu/topic/landvalue.<br />

MEAT<br />

USDA Choice<br />

Whole<br />

Rib Eyes<br />

Old Fashond 1/2<br />

Bone In<br />

Hams<br />

Prices Good Sunday, December 18 - Saturday December 31, 2011<br />

Boneless<br />

Whole<br />

Pork Loins<br />

Hillshire Varietys<br />

Little<br />

Smokees<br />

2 lb.<br />

69<br />

What’s Happening<br />

Monday, Dec. 26: Calhoun County Courthouse will be closed; <strong>The</strong> <strong>Graphic</strong>-<strong>Advocate</strong> will be closed at Both the<br />

Rockwell City & Lake City Offices.<br />

12:00-5:00 p.m. Blood Drive at Lake City Community Building<br />

Monday, Jan. 2: Calhoun County Courthouse will be closed; <strong>The</strong> <strong>Graphic</strong>-<strong>Advocate</strong> will be closed at Both the<br />

Rockwell City & Lake City Offices<br />

Tuesday, Jan. 3: 7 p.m. Republican caucuses will be held at the Rockwell City Middle School (use east door).<br />

Soup served from 5:30 to 6:30 p.m. Caucus starts at 7:00 p.m. in assigned rooms. For more information contact<br />

Kevin Schreier, Chair at 515-463-2258, Mike Sexton at 712-297-8720, Susan Juilfs at 712-468-2568 or Kirk<br />

Warnke at 712-469-2069<br />

Stewart Memorial Community Hospital Auxiliary will be holding their January meeting at the Hospital lower<br />

level conference center. A short business meeting will take place at 9:30 am. And program to follow with Jodi<br />

Ricklefs of the Alzheimer’s Association. Everyone is <strong>welcome</strong>. Contact Ellen Frank at 800-262-2614 for further<br />

information.<br />

Wednesday, Jan. 4: 1:30-5:30 p.m. Blood Drive at the Farnhamville Cooperative<br />

SCC Events<br />

Thursday, Dec. 22: 1 Hr. Early Dismissal; FFA Christmas Party @ HS Gym (LC) 2:30-4:30p.m.<br />

Friday, Dec. 23-Tuesday, Jan. 2: Winter Break<br />

Tuesday, Jan. 3 – Classes Resume<br />

R.C. Community Coffees<br />

Sponsored by the Rockwell City Chamber and Development. <strong>The</strong> Community Coffees <strong>are</strong> held every<br />

Wednesday at 9:30 a.m.<br />

L.C. Betterment Coffees<br />

<strong>The</strong> Betterment Coffees <strong>are</strong> held on the 1 st and 3 rd Friday of the month at 9:30 a.m.<br />

Friday, Jan. 6: 9:30 a.m. Family First Dental<br />

Store Hours: Mon. - Sat. 7 a.m. to 9 p.m.; Sun. 10 a.m. to 6 p.m.<br />

PRODUCE<br />

California #1 Fresh99<br />

Boneless Chuck Roast 3 lb. 49<br />

Seasoned Fryers 5 52 oz. 99<br />

Olesons Herring 3 16 oz. 99<br />

Cooked Shrimp 7 41.5 ct. 99<br />

Black Lable Bacon 3 16 oz. 99<br />

Naval Oranges<br />

Cool Whip 99<br />

8 oz.<br />

Blue Bunny Ice Cream 3 56 oz. 99<br />

Mrs. Smith Fruit Pies 3 12 oz. 99<br />

Deep Dish Pie Shells 2 12 oz. 49<br />

Bulk Cinnamon Rolls 2 Dzn. 99<br />

2/<br />

Philly Cr. Cheese 4 00<br />

8 oz.<br />

Flavorite Butter 2 16 oz. 99<br />

Pure Orange Juice 2 64 oz. 50<br />

13.14 oz.<br />

USDA Choice<br />

Dole Cauliflower 99<br />

Hd.<br />

Gold “N” Plump, each<br />

Fresh Green Onions 1 2 pk.<br />

Fresh Pickled<br />

Arctic Shotes<br />

Reg. or Thick Hormel<br />

FROZEN foods<br />

Select Varieties<br />

All Selections<br />

All Selections Pumpkin or<br />

DAIRY fresh<br />

Kraft Brick<br />

Quartered<br />

AE 100%<br />

00<br />

Russet Potatoes 1 5 lb. 69<br />

Fresh Yams 79<br />

lb.<br />

Jello Pu dings 89<br />

3.4 oz.<br />

Jello Gelatins 89<br />

3 oz.<br />

2/ Chocolate Chips 4 00<br />

12 oz.<br />

Club or Townhouse 2 99<br />

16 oz.<br />

Pumpkin Pie Filling 99<br />

10 oz.<br />

Marshmallow Cream 7 oz.1 39<br />

Sparkling Juice 2 25.4pk. 99<br />

Evaporated Milk 99<br />

12 oz.<br />

Charmin Mega Rolls 8 6 pk. 99<br />

Red Delicious<br />

lb.<br />

lb.<br />

lb.<br />

Jumbo Ad<br />

Ice Less<br />

Green Giant<br />

USDA #1<br />

GROCERY<br />

All Reg. & Sugar Free<br />

All Reg. or Sugar Free<br />

All Selections Flavorite Real<br />

All Selections Keebler<br />

Flavorite Pure<br />

Flavorite Frozen<br />

Jet Puffed<br />

Our Frozen 12 pk.<br />

Meiers Assorted<br />

Flavorite<br />

Ultra Strong<br />

Flavorite Manz Stuffed<br />

2/<br />

Green Olives 3 00<br />

5.7 oz.<br />

All Selections<br />

Swanson Broth 88<br />

14.5 oz.<br />

24 pack, 12 oz. cans<br />

Pepsi, Mt Dew or<br />

Dr Pepper<br />

7 39<br />

7 99<br />

lb.<br />

1 99<br />

2 99<br />

2 liter<br />

7Up, Squirt,<br />

A&W, Sunkist<br />

1 29<br />

SUPERVALU<br />

LAKE CITY, IOWA FOODS<br />

Apples 1 29<br />

24 pack, 12 oz. cans<br />

Budweiser or<br />

Bud Light<br />

16 95<br />

Correction<br />

In the Dec. 14 <strong>Graphic</strong> –<strong>Advocate</strong>, the article titled “Long awaited<br />

dream fulfilled” repeatedly had a misspelling of Diane Vavak’s name.<br />

We apologize for the error.<br />

18 pack, 12 oz. cans<br />

Coors or<br />

Miller Light<br />

13 50<br />

THANK YOU<br />

FOR YOUR<br />

BUSINESS

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