17 The Business of Prairie Agriculture Better Farming | May/June 2024 Rewards that’ll make your bottom line look even better. InVigor® hybrid canola growers save up to on RevyPro® fungicide. * 17% *Full terms and conditions available at agsolutions.ca/rewards. Always read and follow label directions. AgSolutions and REVYPRO are registered trademarks of BASF, used under license by BASF Canada Inc. REVYPRO fungicide should be used in a preventative disease control program. © 2024 BASF Canada Inc. 3191_RevyPro-AgRewards_Print Ad_BFW-3rdVert_Ad 3_v3.indd 1 2024-01-29 8:50 AM Farmland Values What’s in store for ’24 As things begin to return to normal post-pandemic, realtors are cautiously optimistic about the year ahead. “Commodity prices are down, and we had a lot less snowfall. These things aren’t looking great, but cattle prices are at an all-timehigh,” Cawkwell says. “If you’re looking for the shining star, it’s going to be the cattle producers: Hay and pasture land. I think we’re going to see a lot bigger rise on ranch land and a lower rise on grain land because the profitability is shifting. This is a common theme: Historically, it’s common when grain prices are high that cattle prices are low. Everybody gets their turn. “It’s too early to tell. We have to watch every day. If they drop interest rates, that will put farmland values up again.” “Land values are trending upwards again, and I am seeing multiple offers on quality properties,” DeGroote says. “I think this will continue and only get more common as 2024 continues. “The market is starting to pick up again. “I have buyers coming back into the market that have been sitting idle the past two years. There is a strong demand for quality farmland, and so far, there hasn’t been much hitting the market. “I expect that if interest rates lower and the financial forecast continues to improve, buyer confidence will only increase and the pressure for that land that is available will drive prices higher still.” BF Cawkwell is also a farmer in Saskatchewan. Ted Cawkwell photo Rachel Powell
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