Despite higher interest rates and lower commodity prices, land values continue to climb over their historic highs leading some to wonder what their ceiling is. Worrell Land Services owner and Farmland Values Conference Project Chair Luke Worrell says that the land value increases are unprecedented. “This is the fourth year in a row where every classification of land went up at least some.” A downside to the higher values comes for younger or beginning farmers trying to find an entry point. “In 2019 there were a ton of barriers to entry for a young farmer, and I think that’s only been strengthened. I think there’s probably more barriers to entry with the way things cost,” Worrell said about the difficulties someone trying to get start a farming operation might face.
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