Southern Nebraska Farmland Brings in $15 Million
A large chunk of land being auctioned off south of Hastings has sold for just over $15 million.
Thursday's auction for 1,855 acres had nine bidders pay an average $8,156 per acre. Some tracts of land topped out at more than $11,000 per acre.
The nine bidders were mostly local farmers that wanted to keep the land in the hands of Nebraskans. They agreed to pay $15.13 million to do just that.
Broker Jim Hain with Lund Company said, "This is the largest auction of Nebraska farmland thisyear and the largest sale of prime agricultural land that anyone in CentralNebraska can remember. What we saw here today in Adams County was local farmersprevailing over a single $15.1 million bidder. Farmers here made a great effortto keep prime land in local hands."
High bids were expected because of the land's good water sources and excellent soil conditions.
Farmland values have been booming in Nebraska in recent years because strong corn and soybean prices helped farmers generate significant farm income.
Earlier this year, a 160-acre farm in Clay County sold for an astonishing $12,000 an acre.