Memorials are welcome anytime - The Graphic-Advocate
Memorials are welcome anytime - The Graphic-Advocate
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 />
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Dole Cauliflower 99<br />
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Gold “N” Plump, each<br />
Fresh Green Onions 1 2 pk.<br />
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Arctic Shotes<br />
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FROZEN foods<br />
Select Varieties<br />
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DAIRY fresh<br />
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Russet Potatoes 1 5 lb. 69<br />
Fresh Yams 79<br />
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Jello Pu dings 89<br />
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Jello Gelatins 89<br />
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All Reg. & Sugar Free<br />
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All Selections Flavorite Real<br />
All Selections Keebler<br />
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Flavorite Frozen<br />
Jet Puffed<br />
Our Frozen 12 pk.<br />
Meiers Assorted<br />
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Flavorite Manz Stuffed<br />
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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