Drought has hit rural America hard during the last couple of years, hurting both crop and livestock operations. Paul Shadegg, senior vice president of real estate operations with Farmers National Company, says drought even puts a damper on farmland sales.
“There are pockets where it has impacted it, and not so much in the areas where one year of drought has happened. It’s in some of those areas that have experienced up to three years of drought. And there, we’re definitely seeing limited demand, but we’re also seeing limited properties being offered to the market too,” according to Shadegg.
But if the farmland is high quality, it will still sell well even in the middle of a drought.
He says, “If it’s good quality, even though it’s in a drought area, it’s still producing great demand. But there are some of those areas where it might be mid-to-lower quality, those are definitely struggling.”
