(Hospers) — Despite low agricultural commodity prices, land still seems to be in high demand with buyers willing to spend near record levels. At a Sioux County land auction held on Friday near Hospers, a tract of 154 acres sold at $17,300 an acre. Jim Klein of Remsen was the auctioneer for the sale. He says the land sold is of high quality with a history of being very productive.
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Klein says the land was sold to a local neighboring farmer that had land already adjacent to the land that sold.
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The price per acre is not a record for Sioux County land sales, as a parcel of land sold for more than $20,000 an acre nearly two years ago, but as Klein says, with lower grain prices, the expectation would be that land values would also decline.
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Sioux County is a leader in livestock and poultry production, and Klein believes one reason for the high demand for land is so farmers have somewhere to dispose manure.
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Klein says the tract of land did bring several bidders at the start of the sale. He says this was the highest price paid for land that he has had a role in selling.
