1. Oklahoma Land Value Update Roger Sahs, Extension Specialist, Ag Econ.

2. www.agecon.okstate.edu/oklandvalues

3. OK Land Values by Region, 2010 Panhandle Tracts 25 Size 449 $/Acre $572 % Chg +15.3 West-Northwest Tracts 121 Size 290 $/Acre $977 % Chg-2.5 North Central Tracts 198 Size 145 $/Acre $1240 % Chg -0.6 Northeast Tracts 280 Size 148 $/Acre $1535 % Chg +1.8 East-Northeast Tracts 48 Size 201 $/Acre $1743 % Chg -1.4 South Central Tracts 69 Size 238 $/Acre $1419 % Chg -3.3 Southeast Tracts 242 Size 174 $/Acre $1394 % Chg +3.2 State Averages Tracts 1176 Size 190 $/Acre $1291 % Chg +2.9 Southwest Tracts 193 Size 202 $/Acre $990 % Chg +6.3

4. District 2010 All Land One Year Change 3 Year Change 5 Year Change $/acPercent Change Panhandle57215.340.2106.2 West-NW977-2.53.642.1 Southwest9906.317.752.6 North Central1240-0.610.019.4 South Central1419-3.30.210.1 Northeast15351.84.331.9 East-NE1743-1.4-4.924.3 Southeast13943.2-1.647.5 State12912.95.233.5 Recent Trends in Oklahoma Land Values Source: www.agecon.okstate.edu/oklandvalues

5. Survey of Tenth District Ag Credit Conditions Source: KC Federal Reserve Bank, First Quarter, 2011

6. Oklahoma Cropland vs Pastureland Prices Source: www.agecon.okstate.edu/oklandvalues

7. Cropland Values in nominal & real (2000) $ Pasture Values in nominal & real (2000) $ Source: www.agecon.okstate.edu/oklandvalues

8. North-Central – Annual Average Source: www.agecon.okstate.edu/oklandvalues

9. Payne County 3-Year Weighted Average, 2008-2010 Source: www.agecon.okstate.edu/oklandvalues

10. 210 334 254 183 453 800 332 590 601 2202 491 359378 425 382 469 550 292 388 349 472 628 469 378 229 240 392 455 646 561 372 339 214 414 813 371 340 489 386 274255 309 307 272 239 265 391 556 710 488 508 655 464 473 491 314 266 376 370 423 434 304 380 393 380 273 308 313 1973-1975 Average Value Tracts >= 40 Acres and <= $3000/Acre 292 383 330 344 339 356 350 272 384 < 500 > 500 to 700 > 700 to 1100 > 1100 Source: www.agecon.okstate.edu/oklandvalues

11. 2008-2010 Average Value Tracts >= 40 Acres and <= $3000/Acre Source: www.agecon.okstate.edu/oklandvalues

12. County1973-75 Average($) 2008-10 Average($) % Change Love3562,134499 Coal2731,450431 Pittsburg2721,443431 Marshall3391,763420 Delaware382 1,982419 Johnston3081,591416 Okmulgee3071,569411 Okfuskee2141,089409 Pushmataha2921,472404 LeFlore2741,373401 OK Counties with Largest Increases in Land Values Source: www.agecon.okstate.edu/oklandvalues

13. County1973-75 Average($) 2008-10 Average($) % Change Alfalfa8001,27359 Texas33455967 Kingfisher6461,08969 Grant59099569 Kay601 1,08781 Garfield6281,17187 Cimarron21041497 Major46992798 Caddo46492599 Tillman423862104 OK Counties with Smallest Increases in Land Values Source: www.agecon.okstate.edu/oklandvalues

14. Land prices going ahead… Changes in the environment – Farm Bill – Domestic economy – Global economy – Elections/policy – Interest rates Recreational uses – Wildlife habitat, wildlife population Development uses – Population growth – Per capita income Agriculture – Input prices – Cattle, wheat/feedgrain prices – Yields – Efficiency, productivity – Continued drought

15. Resources Agecon.okstate.edu/oklandvalues Kansas City Federal Reserve Bank – http://www.kc.frb.org/ http://www.kc.frb.org/ – Choose RESEARCH & DATA, then Economic Review or Agricultural Credit Survey USDA Ag Land Value Data and Reports – http://www.nass.usda.gov/Charts_and_Maps/Land_Value s_and_Cash_Rents/index.asp http://www.nass.usda.gov/Charts_and_Maps/Land_Value s_and_Cash_Rents/index.asp – http://usda.mannlib.cornell.edu/usda/current/AgriLandVa /AgriLandVa-08-04-2010.pdf http://usda.mannlib.cornell.edu/usda/current/AgriLandVa /AgriLandVa-08-04-2010.pdf

16. Questions?? Roger Sahs 520 Ag Hall 405/744-9836 roger.sahs@okstate.edu