American Society of Farm Managers and Rural Appraisers

How Do Wind, Solar, Renewable Energy Effect Land Values?

Thu, 26 Sep 2024 18:31:52 GMT

Since the signing of the Paris Agreement and its Net Zero by 2050 iniative, the ripple effects are still being ironed out as the demand for renewable energy increases.

With expanding renewable energy installations such as wind and solar, The Top Producer Podcast host Paul Neiffer asked David Muth of Peoples Company Capital Markets , the Investment platform for Peoples Company, how those land uses change long term land values.

“We’re really seeing emerging revenue streams from our land base–outside of the ag production,” he says. “We’re trying to get our arms wrapped around the asset management strategy and really get this well positioned. So over the next 10 or 20 years, we’re expanding revenue right and capturing that correctly.”

Muth shares the estimate that over $1 trillion dollars a year is being invested globally in the low-carbon energy transition.

“If we step back and look at what that means for farmland, we’re taking our energy production system from highly centralized production facilities and we have to distribute it,” he says.

The team at Peoples Company used the Princeton Net Zero America study as the basis scenario for its work, which shows if there are 6,000 wind turbines in Iowa today, it needs to increase to about 48,000, which could bring almost $1 billion a year in additional revenue back to the landowners from the turbines.

Muth highlights the considerations for landowners with solar power are different than wind.

“With solar, it’s different. There’s certainly a free market element to this where the revenue streams and the value equations associated with the land in different areas will drive just how high they’ll push those numbers,” he says.

Solar’s Impact On Rural Property Values

He notes he’s seen annual leases with standard escalators for $1,100, and there are additional state and federal incentives.

“In Illinois, there’s been a big push, and we’ve seen options for solar development contracts on some of the best of the best farm ground for $1,400. It is what they’re talking about as a starting place on these assets. The core question is because it’s a fundamental shift in land use, how do you look at the underlying land value where you put solar in place?”

Thinking of recent trends, he says Illinois farm land has appreciated 7% a year, but the future appreciation rate is unknown just as the productivity of the land after solar panels are removed is unknown.

“It’s part of this sort of chaos that landowners are having sort through,” he says. “That’s where a pretty detailed discounted cash flow and understanding how much am I really making on that $1,400 an acre lease payment with a 2% escalator if the underlying farmland value doesn’t appreciate the way that the rest of that highly productive Illinois farm ground is going to appreciate.”

Pop-Up Solar: Can Farmers Make Fertilizer, Fuel and Electricity from the Sun?

Muth says the biofuels industry growth will also effect land values as the production of corn and soybeans is needed for Sustainable Aviation Fuel and renewable diesel.
He discusses more about wind, solar, biofuels as well as carbon storage opportunities on The Top Producer Podcast.

Who Is The Driving Force Buying Farmland?

Thu, 25 Apr 2024 19:21:47 GMT

David Muth of Peoples Company Capital Markets, the Investment platform for Peoples Company, shares how institutional investors have reacted to higher interest rates on their land investments pursuits.

“There’s certainly a significant infrastructure of institutional farmland investment groups that are committed to this to the asset class,” he says. “They’re committed to continue maintaining their portfolios and we’ll continue to see quite a bit of activity from those folks, but certainly there is there is a bit of a changing dynamic in their capital stack overall.”

He says while farmers are buyers in more than 80% of the farmland transactions today, the past 30 years have brought changes in who buys farmland and how it’s bought. What started in the ‘90s with more institutional ownership of U.S. farmland became a structured opportunity at a larger scale in the early 2000s. Today, there are multiple farmland REITs such as Farmland Partners and Gladstone Land Company.

Peoples Company recently released a white paper “The Evolution of Farmland As an Institutional Asset.”

Farmland as an investment has five unique characteristics compared to other options, says Muth:

It’s stable
Investors get cash yield
Its appreciation rate
Has a driven long-term outcome
Zero vacancy rate

Muth discusses the current trends on the Top Producer Podcast:

“Certainly, when we went into the financial crisis in 2008, you started to effectively see a lot of the long-term fixed income types of products go to zero. Then you started thinking about quantitative easing and all of the Fed tools that were deployed formally. It became really appealing for a lot of these funds in this class of investor to look at farmland.”
Muth says a few parameters have emerged for the type and location of land deal most appealing to the institutional investor.

“It’s regional—you see a heavier institutional presence in California, the Pacific Northwest, and the Delta,” he says. “These groups target a specific size of deal--$10 million is the threshold typically because of due diligence and overhead costs going into each deal.”

The current interest rate environment has deflated some of the appeal of farmland for this type of investment.

“One significant element is just simply the increasing cost of debt,” Muth says. “A lot of the large institutional farmland buyers will use leverage in order to create a higher IRR (internal rate of return) outcome. And if you go back to when we were really seeing a lot of these funds build right the portfolios built, debt was incredibly cheap.”

Even with higher land rents, Muth says that has not kept up with the service debt costs which have doubled or even tripled in the past several years.

He adds at the same time other investments are showing better annual cash returns from fixed income outcomes and products.

“If you look at farmland values in the Corn Belt, 2% cap rates are pretty common. But you can go out and get fixed income at 5% or 6% with some really stable products these days,” he says.

Muth says farmland investors are still looking for deals—deploying a strategy of looking for distress deals for example in California almond production or Washington state apple production.

New Tools Bring New Investors

Peoples Company has partnered with Acre Trader, which is introducing farm land ownership as a retail investment.

“For folks that maybe don’t have the capacity to go out and buy a farm on their own, for this group or class of investors, Acre Trader enables access to the farmland asset,” Muth says. “They’re representing a movement of retail capital into farmland, and we’ve gotten really interested in working with registered investment advisors and wealth managers.”

New Land Analysis Tool Puts a Twist on Plat Book Concept

Muth shares more on Top Producer Podcast:

Which Foreign Country Owns the Most Farmland in the U.S.? Hint: It's Not China

Thu, 11 Jan 2024 17:24:37 GMT

Controversy continues to grow across the U.S., and China is the primary target of the new rules. However, China doesn’t own the most farmland in the U.S., according to a new USDA report. It’s actually Canada, which accounts for 32%, or 14.2 million acres.

Rounding out the top five are the Netherlands at 12%, Italy at 6%, the United Kingdom at 6% and Germany at 5%. Together, citizens in those countries hold 13 million acres, or 29%, of the foreign-held acres in the U.S. China owns less than 1%, or 349,442 acres.

(Farm Journal)

All told, 43.4 million acres of forest and farmland in the U.S., or 3.4% of all ag land, is foreign owned as of Dec. 31, 2022. Roughly 30 million of those acres are reported as foreign-owned, with the remainder primarily under a 10-year-or-longer lease. Of the 30 million, 66% is owner-operated, 14% has a tenant or sharecropper as the producer and 12% report a manager other than the owner or a tenant/sharecropper as producer. The remaining 7% are “NA.”

USDA says the two biggest Chinese-owned companies with land holdings in the U.S. are Brazos Highland and Murphy Brown LLC, which owns Smithfield Foods. Brazos Highland reported owning 102,345 acres, and Smithfield owns 97,975 acres.

(Farm Journal)

The top five states with the largest Chinese holdings are:

Texas at 162,167 acres
North Carolina at 44,776 acres
Missouri at 43,071 acres
Utah at 32,447 acres
Virginia at 14,382 acres

USDA reports those five states combined account for 85% of China’s farmland ownership. In Texas, USDA reports China has long-term leases associated with wind energy, and in North Carolina and Missouri, ownership is tied to Smithfield and producers who contract for pork production.

More States to Take Up Possible Bans in 2024

Foreign-held farmland has become a hot button topic on Capitol Hill. Farm Journal Washington correspondent Jim Wiesemeyer thinks it will continue to gain momentum in 2024 as a political ploy used by candidates.

“It’s an emotional issue, and it’s not a simple issue either,” Wiesemeyer says. “I was recently in Missouri, and some commodity leaders worry about the negative consequences of going too far. No one’s saying China should not be watched relative to buying farmland near airports, national security is involved in that case, but more than a few farmers are looking at the potential downsides for pork producers who contract with Smithfield and the number of acres they own.”

One of those unintended consequences is playing out in Arkansas.

“I’m announcing Syngenta, a Chinese state-owned agrichemical company, must give up its landing holdings in Arkansas,” says Gov. Sarah Huckabee Sanders, referencing a 160-acre research site owned by Northrup King Seed, a Syngenta subsidiary.

Eric Boeck, president of Syngenta Seeds North America, told Farm Journal editor Clinton Griffiths: “EPA and USDA many times require us to do work and permitting right in the same state as we’re going to sell products. One of the first things we have to make sure we figure out is how we work with the local community to make sure we’re still getting products tested in their backyard, so we have the ability to sell those products.”

(Farm Journal)

Syngenta argues if they sell that particular farm, Arkansas farmers will be at a disadvantage because research can’t be done in the same weather and soil conditions.

“We’re heavy in the soybean market in Arkansas, some of those maturity zones, we have a very significant market share and savings,” Boeck says. “We want to make sure we’re protecting those farmers’ abilities to be able to use our products.”

Wiesemeyer says the bigger issue for U.S. farmland might be solar panels, with farmers in states like Missouri reporting companies have offered to pay more than $1,000 per acre cash rent to put solar panels on their farm. At such a high price, he says it’s eating up acres of farmland, with the potential to grow even more in 2024.

Look Out Iowa! Cropland Auction Sets Fresh Record in North Dakota

Fri, 03 Nov 2023 21:36:43 GMT

As mortgage rates climb to 20-year highs, near 8%, current high-interest rates are eating away at the housing market. This year is currently on pace to see the fewest home sales since 2008. However, farmland sales aren’t witnessing the same sticker shock. In North Dakota, Pifer’s Auctioneers says it just set a new land sale record in the state.

According to a post on Facebook, on November 1, Pifer’s Auctioneers hosted a live and online land auction. The farm featured 320 acres of highly-productive land in Pembina County, N.D. That’s the very northeastern corner of the state in the Red River Valley. The auction house says the land sold for $17,500 per deeded acre to a family farm operation. It says that shattered the all-time high for North Dakota cropland. Roughly 30 bidders were on hand for the auction.

The Pifer team says that area is known to be tight where very few farms ever get exposed to the market. Another of the enticements comes from the crop rotations in that region. Farms typically grow potatoes, sugar beets, wheat, corn, barley and soybeans. The ability to produce sugar beets and potatoes on medium to heavier loam soil, without irrigation, was a strong draw.

Pifer says at $5.6 million, or $2.8 million per quarter, it breaks down to:

Parcel 1: $18,571 per FSA cropland acre
Parcel 2: $18,393 per FSA cropland acre

Jim Rothermich, vice president of Iowa Appraisal, calls this a bell ringer for the state of North Dakota. Looking at Iowa, he says land market conditions remain steady and strong, but aren’t as hot as they were a year ago.

“Since peaking around May 2022, the market has declined a small percentage and is now pretty much in equilibrium, or flat,” Rothermich explains. “Sales north of $20,000 per acre still happen but nothing like they did in 2022.”

(Farm Journal)

While rising interest rates, higher input costs, drought and corn prices below $5 per bushel have put the brakes on the large increases between 2020 and 2022, cash rent auctions still yield solid numbers, he adds.

“I think market conditions will be stable for the next six months to a year,” Rothermich says. “After that, lower farm income and rising interest rates will whittle down land prices. I do not think we’ll see a double-digit decrease, but there is potential for a single-digit decline. Good quality cropland is still in demand.”

When comparing 2023 to the hot markets of 2022, he says it’s clear land values have cooled off.

New Farmland Bill Would Create a Public Database for Foreign Land Ownership

Sat, 22 Jul 2023 03:07:00 GMT

Sens. Chuck Grassley (R-Iowa) and Tammy Baldwin (D-Wis.) introduced a new bipartisan bill , the Farmland Security Act of 2023 , seeking to further boost transparency in foreign ownership of U.S. farmland.

The legislation builds upon measures introduced by the same senators in the Farmland Security Act of 2022 and amendments to the 1978 Agricultural Foreign Investment Disclosure Act. This bill would require greater transparency for foreign purchases of U.S. ag land, impose stronger penalties for reporting non-compliance, and mandate USDA to audit a minimum of 10% of foreign ag land ownership reports annually.

The issue of foreign ownership is increasingly important as nearly half of U.S. ag land is owned by individuals aged 65 and over, and approximately 100 million acres are expected to change hands over the next decade due to retirement.

What’s included in the Farmland Security Act of 2023?

The measure necessitates a transition to a digital filing system and a public database on foreign ownership for researching ownership trends. It also requires the USDA to report on foreign investment impacts. The bill further emphasizes transparency, complete and accurate data collection, and greater understanding of foreign ownership.

The new legislation introduces stricter penalties for non-compliant foreign owners or “shell companies” by removing the current fee cap of 25% of land valuation, imposing a 100% land valuation fee for non-reporting shell companies unless corrected within 60 days of notification. It authorizes $2 million annually for administration as amended in the Agricultural Foreign Investment Disclosure Act.

Other stipulations include USDA research into foreign ownership of agricultural production capacity and foreign participation in U.S. ag, along with investigations into the use of “shell companies”. State and county-level staff would also be trained to identify non-reporting foreign-owned farmland.

Foreign Farmland Ownership to be Addressed in New Study

Mon, 03 Oct 2022 19:51:45 GMT

House Ag Committee ranking member G.T. Thompson (R-Pa.) and Rep. James Comer (R-Ky.), Republican leader on the House Committee on Oversight and Reform, in a letter to General Accountability Office (GAO) Comptroller General Gene Dodaro, asked the GAO to conduct a study addressing the following:

1. What is known about the extent of and trends in foreign investment in U.S. agricultural land (e.g., by country of investor, by state, by type of land)?

2. How does the Farm Service Agency collect data ona foreign investment in U.S. agricultural land and what steps are taken to ensure data reliability? How have USDA’s data collection methods changed since AFIDA was enacted in 1978?

3. What procedures are in place to ensure proper disclosure of acquired agricultural land by a foreign person or entity and does USDA have a process to ensure accurate disclosure of the transfer or sale of such lands?

4. Do the current standards for filing under AFIDA ensure that land acquired by a foreign person or entity through a U.S. chartered company or corporation is accurately disclosed as a foreign investment in agricultural land?

5. How, if at all, does the U.S. government use the data on foreign investment in U.S. agricultural land to ensure the land is used for its intended purpose and does not pose a threat to national security?

6. What improvements or policy options, including regarding national security, could be made to strengthen reporting of foreign investment in agricultural land?

7. Are there other Departments or Agencies that USDA is or should be partnering with to ensure accurate disclosure of foreign owned agricultural land?

According to Rep. Thompson, foreign ownership and investment in U.S. ag land has “nearly doubled” in the past decade.

“This growing trend has elevated concerns regarding national security in a time of uncertainty that is already compounded by challenges to our supply chain infrastructure, high input costs for farmers, and geopolitical pressures. It is critical for Congress to have a thorough understanding of foreign investment in our nation’s agricultural land,” he said.

The study was put into motion to ensure an “affordable, reliable” food supply is secured for the nation’s wellbeing, according to Rep. Comer.

“We are calling on the Government Accountability Office to report on the scope of this threat to our food supply to inform Congress how we can best protect the security of the American people. Americans need transparency about the federal government’s efforts to address this growing problem,” says Comer.

What We Know

Sen. Chuck Grassley (R-Iowa) has noted that foreign ownership of U.S. land increased by 2.4 million farm acres in 2020. If this trend continues, it will contribute to unfair competition for young and beginning farmers who seek to buy land.

(Farm Journal)

Sens. Tammy Baldwin (D-Wis.) and Grassley introduced the “Farmland Security Act,” to require more disclosure by foreign entities about the purchase of U.S. farmland. The bill would require USDA to increase reporting on foreign investments in the U.S., “including the impact foreign ownership has on family farms, rural communities and the domestic food supply.”

USDA also would be required to develop an interactive public database with real-time updates on disclosures of foreign land purchases.

China’s Role

USDA’s latest data shows China owns over 191,000 acres of U.S. lands.

A Chinese company, Fufeng Group, recently acquired 300 acres in North Dakota for $2.6 million. According to the company, it intends to establish a milling plant.

Various government officials, including North Dakota’s Governor Doug Burgum, have raised concerns over the sale.

“We ask that this review process be completed with the utmost urgency to aid Grand Forks officials in their decision-making process and provide clarity on whether this land purchase has national security implications,” Burgum wrote.

Eric Chutorash, Fufeng Group USA COO, claims the company has no Chinese government ownership and all workers in the plant will be Americans. He says he “cannot imagine” anyone in the facility would partake in espionage.

This isn’t the first time a question has been raised in China’s stake in the U.S.

The plug was pulled on a similar wind energy project in Del Rio, Texas, in April when state officials realized two key issues:

1. The land dedicated to the wind farm is miles from the Laughlin Air Force Base.
2. The Chinese company hired to carry out the job is owned by a former member of the Chinese military who has direct ties to China’s ruling communist party.

Some 14 states restrict or prohibit foreign ownership of farmland, though none outright forbid it, according to a memo last November by the Congressional Research Service.

More on farmland:

China’s Latest Land Purchase Could Pose Major U.S. Security Risk
Who Can Afford These Soaring Farmland Prices?
U.S. Cropland Cash Rents Hit All-Time High

Terry Bradshaw Lists His Oklahoma Horse Ranch

Tue, 20 Sep 2022 02:43:43 GMT

Hall of Fame quarterback and FOX NFL Sunday analyst Terry Bradshaw has listed his 744-acre, Love County, Oklahoma, cattle and Quarter Horse ranch for sale.

The ranch, near Thackerville just five miles north of the Red River north of Dallas, has working equestrian and cattle facilities, plus a rustic-style 8,600-square foot home with six bedrooms, eight bathrooms and four oversized brick stone fireplaces. There’s also a pool and a fenced-in doghouse with space for dogs to roam.

The current listing does not include a price, but Bradshaw previously listed the property in 2016 for $10.8 million. He recently told the Dallas Business Journal that he doesn’t have enough time to enjoy the ranch anymore.

(Farm Journal)

“I have way too much going on,” the four-time Super Bowl winning quarterback told the Journal. “It’s a very sentimental thing. It’s hard to sell something you started from scratch, but it’s time to let someone else enjoy it.”

The ranch is primarily in grass and includes eight lakes and ponds plus riding trails throughout. The ranch is capable of running 200 AU during ideal weather conditions. The property is listed through Icon Global Group.

Facilities include a four-stall stallion barn, a 20-stall show barn with tack room and wash area and a 50-stall mare barn with a lab, breeding facility and office plus a 20-stall weanling barn for the equestrian operation.

The cattle facilities include a set of working pens and alleyways to all barns and pens, a six-bay shop for storage, hay barn and a show pig barn. The ranch office includes a full kitchen, bathroom and fireplace.

Related stories:

Boone Pickens’ Ranch Listed For $250 Million

California’s Iconic N3 Ranch For Sale

Price Reduced $30 Million For T. Boone Pickens’ Ranch

Tue, 20 Sep 2022 02:43:34 GMT

T. Boone Pickens’ large ranch and residence in the Texas Panhandle remain on the market, and the asking price was slashed by $30 million last month. That brings the ask down to a mere $220 million for the 100-square-mile ranch located northeast of Pampa, TX.

Pickens, who died last September at 91, was the founder of Mesa Petroleum, an oil and gas company, and the hedge fund BP Capital Management. In 1971 he purchased the first 2,900 acres of the ranch he named Mesa Vista Ranch. Since then the ranch has increased in size by 22 times and now covers 64,800 acres.

(Farm Journal)

T. Boone Pickens was an avid quail hunter.

Structures on the property include a 12,000-square-foot lake house; a 33,000-square-foot lodge; a 6,000-square-foot family house; a 1,700-square-foot gatehouse; a 1,600-square-foot pub; and the 11,000-square-foot kennel. The ranch also has its own FAA-approved airport, and the hangar has a two-bedroom, two-bathroom apartment upstairs, which is used by pilots.

(Farm Journal)

All of the furnishings, farming equipment, pick-up trucks, and hunting gear are included in the purchase price. The property was originally listed in 2017 for $250 million.

Stretching approximately 25 miles along the south side of the Canadian River, the lush river bottom creates the centerpiece of the Mesa Vista Ranch. The property features a variety of land types ranging from rolling sand hills to elevated ridges, mesa points and gently rolling open prairie lands.

(Farm Journal)

Mesa Vista Ranch

Much of the river bottom is sub-irrigated and suitable for native hay production. Live spring water is found throughout several of the major drainages.

A herd of 400 to 500 cows have been maintained on the ranch, but some of the land has not been grazed in more than 20 years.

The sale of the Mesa Vista Ranch is basically “turnkey,” including all rolling stock, equipment, pickup trucks, hunting vehicles, farming equipment, furnishings, bird dogs, etc. The only exclusions are Boone’s personal effects, livestock, and his vast art collection. The livestock is available to be purchased separately, as is most of the art collection.

Related stories:

Terry Bradshaw Lists His Oklahoma Horse Ranch

Nevada’s Historic 25 Ranch For Sale

California’s Iconic N3 Ranch For Sale

Montana’s Famous Beartooth Ranch For Sale

Tue, 20 Sep 2022 02:43:34 GMT

The Beartooth Ranch near Columbus, MT, once owned by Academy-Award winning director and actor Mel Gibson, has been listed by Hall and Hall . Kent and Pat Williams bought the property 15 years ago in a handshake deal with Gibson. Kent Williams is the founder of Montana Silversmiths, a Columbus business he sold in 1993.

(Farm Journal)

Beartooth Ranch (Hall and Hall)

Hall and Hall have 12,350 deeded acres of the Beartooth listed, and 1,000 acres of leased land for $29.8 million. Less than 17% of the ranch is protected from development by a conservation easement.

Gibson bought the ranch in 1988 and operated it as one of Montana’s larges purebred Angus operations. Gibson and his employees were profiled in an Angus Journal feature in 1991 .

Prior to buying the Beartooth in 2005, Williams owned the neighboring 2,000-acre ranch. Williams told the Missoulian at the time, “We shared an awful lot of fence. He’s (Gibson) been a real good neighbor.”

(Farm Journal)

Beartooth Ranch (Hall and Hall)

According to the listing, the Beartooth Ranch is a 1,000-animal unit operating ranch in the heart of the Stillwater River Valley five miles southwest of Columbus. The ranch runs up through the breaks and pine foothills on both sides of the valley to offer huge expanses of lush, well-watered summer pastures and hundreds of acres of improved pastures.

(Farm Journal)

Beartooth Ranch (Hall and Hall)

Improvements include two comfortable homes, indoor riding arena, and complete shops, barns and other operating facilities.

“This is a virtually all-deeded contiguous operating ranch in a prime location looking up at the dramatic Beartooth Mountains – Montana’s highest – offering, in addition, a complete package of recreational amenities from big game and birds to a quality fishery,” the listing says.

Flint Hills Ranch Price Reduced 17%

Tue, 20 Sep 2022 02:43:29 GMT

Asking price for the Crocker Springs Ranch, located in Chase County, Kan., 70 miles northeast of Wichita, has been reduced to $7.095 million, according to listing agent Hall and Hall . The 3,300-acre ranch is located in the heart of Kansas’ Flint Hills where cattle ranching is the community’s dominant economic driver. The ranch was first listed in July 2019 for $8.58 million.

The property is offered by owner Bill Haw, who served as president and Chief Executive Officer of National Farms, Inc., from 1974 to 2002. He is currently CEO and owner of the Livestock Exchange Building in Kansas City and a real estate developer in the city. National Farms was a cattle feeding and ranching business owned by the Bass brothers of Fort Worth -- Ed, Lee, Sid and Robert.

According to Hall and Hall, the Crocker Springs Ranch is “unencumbered by buildings, and two miles of the 48-mile Flint Hills National Scenic Byway passes through the property. There are several historic towns nearby like Council Grove, Cottonwood Falls and Strong City that are home to charming shops, antiques, restaurants and artworks.”

The Flint Hills are premier stocker cattle grazing country with 36 inches of average annual precipitation. The Crocker Springs Ranch is protected by a conservation easement.

(Farm Journal)

Crocker Springs Ranch

The Shark’s 11,900-Acre Colorado Ranch For Sale

Tue, 20 Sep 2022 02:43:29 GMT

Hall of Fame golfer Greg “The Shark” Norman has listed for sale his Seven Lakes Ranch located in Colorado’s White River Valley of the Flat Tops Mountains near Meeker. The 11,900-deeded acre ranch straddles the trout-filled White River, rising thousands of feet in elevation to public land boundaries on both side of the valley. Hall and Hall lists the ranch at $40 million.

(Farm Journal)

Greg Norman

Originally listed in 2017 at $55 million, the property includes a 13,907-square-foot main lodge with nine bedrooms, seven guest cabins, staff housing, a historic dance hall, equestrian facilities and a fitness center with spa.

Norman, an international businessman, and his wife, Kirsten, transformed a former corporate retreat into a family legacy. The house, which was built of logs trucked in from Montana, is steeped in enduring Western charm. An executive cabin that overlooks Cabin Lake has served as a retreat for family and friends, including the late president George H.W. Bush.

(Farm Journal)

Seven Lakes Ranch main lodge

Hall and Hall says the property is a big game hunting and fishing paradise. The White Rive Valley has avoided large-scale development seen in other Colorado river valleys. The ranch has served as a Norman family retreat for over two decades.

Despite the secluded nature of the White River Valley, the ranch headquarters is located just 20 minutes up the valley from Meeker, a nice town of 2,400± offering a full complement of services. Meeker boasts a 6,500-foot jet-capable airstrip, and commercial service is available at the Steamboat-Hayden airport less than an hour and a half from the ranch.

Montana's IX Ranch For Sale

Tue, 20 Sep 2022 02:43:29 GMT

North Central Montana’s IX Ranch is for sale. A true legacy ranch, the IX Ranch near Big Sandy, MT , has had just two owners in its 128-year history, with a respected reputation in ranch country. The ranch is listed by Hall & Hall at $58 million.

(Farm Journal)

Located 80 miles northeast of Great Falls, the ranch is currently owned and operated through three generations of the Roth family. The ranch is located in the foothills of the Bear Paw Mountains and adjacent to the protected lands of Upper Missouri River Breaks National Monument, providing excellent hunting opportunities.

The IX runs approximately 4,300 cattle. They currently winter around 3,375 bred females, 120 3-year-and-younger bulls and ranch horses, together with 4,000 tons of winter feed. In the spring, around 650 of the previous year’s heifer calves will return to the ranch for breeding from a grow-lot near Billings.

(Farm Journal)

The operation covers over 126,305+/- acres, of which 59,889+/- is deeded and the majority of the balance being State grazing leases. The ranch includes 4,131 acres of cropland. It is well improved, with accommodations for a full crew including a manager, as well as comfortable quarters for guests.

Arizona Ranch Sues Over Border Wall Construction

Tue, 20 Sep 2022 02:43:24 GMT

An Arizona ranch has sued the federal government claiming damages caused by the construction of the 30-foot-tall border wall between the United States and Mexico.

The Arizona Daily Star reported Friday a lawsuit filed Nov. 30 by the Diamond A Ranch and the Guadalupe Ranch Corp. claim the company working under contract with the federal government building the border wall “trespassed onto and destroyed private property belonging to the ranch without notice, authorization, or process.”

The construction project which began in July involves building a 30-foot-tall steel wall through a roughly 5-mile stretch of remote wilderness in the southeastern corner of Cochise County. The construction is located on a 60-foot-wide strip of federal land that runs between the international border and the ranch.

The Washington Post reported it is President Trump’s desire to build as much of the wall as possible before leaving office. But in addition to the Arizona ranch, other landowners object to the construction. Municipal water officials in El Paso told the Washington Post they deployed dump trucks last week to block construction work from cutting off their only road to a vital canal along the Rio Grande. And landowners in Laredo, Tex., are urging elected officials to pressure the incoming Biden administration to make clear that their private property will be safe from construction crews eager to finish the job.

In the lawsuit filed by the Arizona ranch, the owners claim “car-sized boulders” and other debris fell on their property when explosives were used to blast through rock at the construction site.

The terrain where the wall is being built through Guadalupe Canyon is “so steep that the land was accessible only by foot and mule. Even now, after rough construction, or pioneering, has begun, it can be traveled only with tracked vehicles,” according to the lawsuit.

Since the wall project runs across Guadalupe Creek, the ranch owners claim the project is “almost certain to lead to flooding,” and they said there is a “grave risk” that debris carried by water will “jam and block” the creek. If that occurs, flood waters could “wash away the road and cut the Ranch off from the outside world,” according to the lawsuit.

The ranch owners claim they tried to “engage in good faith negotiations” with federal officials, but were met with “empty promises” and “bad-faith dealings.”

According to the Arizona Daily Star, the ranch owners said the ranch is “not a political organization, and it has not filed this lawsuit out of opposition to (Custom and Border Protection’s) mission. The ranch has been adversely affected in the past by illegal border crossings and has supported efforts to improve border security and deter illegal crossings.”

The cost of the border wall near the ranch is roughly $41 million per mile, and Southwest Valley Constructors is building 88 miles of border wall at a cost of nearly $2.2 billion, according to the Army Corps of Engineers.

The ranch owners are asking a judge to order officials to stop wall construction near the ranch until the ranch owners are given notice of any “further incursions on Ranch land” and plans to prevent those incursions. They also seek a “meaningful hearing” with federal officials that will result in a plan to protect the ranch and “remediate past damage.”

Nebraska’s AL Ranch Listed

Tue, 20 Sep 2022 02:43:24 GMT

Hall & Hall lists a 15,296-acre working cattle ranch in the heart of the Nebraska Sandhills. The AL Ranch, Halsey, NE, has been owned by one family since 1947 and supports a 700-head cow-calf operation and has a backgrounding facility for 2,500-head. The ranch consists of 7,052 deeded acres and the balance in National Forest grazing permits. The asking price is $8.4 million ($12,000/AU).

The ranch features 296 pivot irrigated acres, 445 head cow/calf permit on National Forest, an excellent set of improvements along with superb native grasslands. The ranch lays on top the Ogallala Aquifer, which provides excellent water resources allowing for shallow clean water wells. The ranch has been in the family since 1947 and exudes extreme pride in ownership from grassland management to the improvements.

The main ranch is divided up into 23 pastures and the north summer range contains 10 pastures. Currently, the main ranch has grass over belly deep on a cow due to deferring grazing to fall and winter months.

The property comes with three homes, an insulated shop and calving barn, grain storage and good fences.

Koch Lists 10,000-Acre Flint Hills Ranch

Tue, 20 Sep 2022 02:43:24 GMT

The 10,793-acre Spring Creek Ranch in the Flint Hills of eastern Kansas has been listed by the Koch family. Part of Matador Cattle Co., the Spring Creek Ranch has remained a working cattle ranch since the family ownership back to 1941. The ranch is listed at $23.2 million, or $2,150 per acre.

The ranch is divided into a total of more than 17 large pastures, plus numerous traps and hay meadows and over 350 acres of cropland. For many years the ranch was operated with a commercial cow herd and stockers. Around 2012 the ranch became the primary bull seedstock operation for all Matador Cattle Company operations. In recent years the cow herd was reduced to around 200 head with about 3,000 head of customer summer stockers.

Hall & Hall calls the exterior and interior fencing is generally in good condition. The headquarters is well laid out with five large metal buildings (used for equipment storage, mineral storage, and covered processing areas), large scales, and excellent pipe alleyways and pens. Just south of the headquarters is Cabin Lake with a beautiful stone cabin sitting on its north bank.

Stewardship has always been a focus of the owner since purchasing the land in 1941. The owners have consistently run their cattle operations within the limits of one of nature’s most prolific ecosystems, never over-grazing the land and giving much attention to care and upkeep.

This ranch is improved and in condition to run a thriving cattle business. At the same time, it is a beautiful setting with outstanding recreational components matched by few other places. Great hunting, great scenery, and over 47 lakes/ponds, including a 70-acre watershed lake.

Sandhills Ranch, Miles of Creek Frontage Offered

Tue, 20 Sep 2022 02:43:12 GMT

The 4,385-acre Minnechaduza Creek Ranch, in Cherry County, Neb., is offered for sale with a reduced price, according to Hall & Hall real estate. Located 14 miles west of Valentine on Highway 20, the Minnechaduza Creek Ranch includes over three-and-a-half miles of creek frontage and is offered at $5.2 million. The ranch is listed by Hall & Hall .

Ranch terrain varies from rolling sandhills, fertile creek valley, and hard grass. A pivot, sub-irrigated meadow, and dryland hay ground provide plenty of winter feed and numerous hand-planted shelterbelts provide excellent winter protection.

The offering includes a 75± acre pivot, 350± acres sub-irrigated meadow, 200± acres dryland hay ground, a 1956 surface water permit for 400gpm on 75 acres, and seven submersible wells.

The property features three homes, indoor arena, outdoor arena, corrals, and barns. Hunting is excellent with the combination of water, trees and creek bottoms. Wildlife include deer, turkeys, upland birds, and waterfowl. This is a very well-balanced ranch with all the amenities needed for a successful operation.

The improvements overlook the creek and sub-irrigated meadows. The south side of the creek transitions into the rolling Sandhills and the north side holds the fertile flat irrigation and dryland hay ground, along with the numerous cottonwood and cedar windbreaks. The very north end of the ranch rises up out of the valley and contains harder grass country.

Texas' Historic Turkey Track Ranch Offered In Q4 2021

Tue, 20 Sep 2022 02:43:12 GMT

The historic Turkey Track Ranch in the Texas Panhandle will be offered for sale in the fall of 2021. The 80,000-acre ranch with 26 miles of Canadian River frontage, owned by the Whittenburg and Coble families for more than 120 years, boasts a rare combination of history, heritage and natural resources.

W.T. (Tom) Coble purchased the original Turkey Track headquarters south of Spearman in 1916 and began using the Turkey Track brand. He continued to expand the Turkey Track Ranch and also purchased farm land in Hockley County. Coble was president of Texas and Southwestern Cattle Raisers from 1934-36, and his grandson, JA Whittenburg III was president from 1976 - 1978.

“It is with careful consideration and great emotion that we announce that, after 120 years of stewardship by our family, we have decided to sell our historic Turkey Track Ranch in the Texas Panhandle. For over a century this American landmark has been an integral element of our heritage. Generations of Cobles and Whittenburgs have created lifetimes of memories on the Turkey Track. Due to our family’s increasing numbers and geographical distances, we recognize that it is time to find a new steward for this historic holding,” The Whittenburg and Coble families said in a statement.

Tom Coble was a contemporary of Dan and Tom Waggoner of the Waggoner Ranch, Samuel “Burk” Burnett of the Four Sixes Ranch, and Charles Goodnight of the JA and Goodnight Ranch. Coble recognized the infinite resources of the Southern Great Plains. Like Waggoner, Burnett, and Goodnight, he created a cattle kingdom that was sustained by thousands of acres of grass.

Later, Whittenburg was the larger-than-life Texas Icon and entrepreneurial modern-day rancher who led the management of the Turkey Track for several decades. An early trendsetter of flying between properties and business interests, he operated several significant ranching interests in Texas and New Mexico, along with other business interests which included Aviation, Oil & Gas, Banking, Cattle Feed Yards; he was also a Special Texas Ranger.

“We have enlisted Bernard Uechtritz of the Icon Global Group in Dallas to bring the Turkey Track to market in the latter half of 2021,” the families said in the statement. “The ranch has and will forever hold not only the monuments, memories, and legacies of our now multigenerational families but, significantly, maintains a very important place within the well-chronicled chapters of early Texas and US history; similarly, the ranch and its past stewards hold a prideful and acknowledged position of contributions to the evolution of modern-day ranching and cattle raising industries, as well as the Oil & Gas sectors of our great state.”

In 2016 the Turkey Track Ranch was selected as one of six regional honorees of the Environmental Stewardship Award Program (ESAP). The award recognizes the outstanding stewardship and conservation efforts practiced on the ranch.

The property is also the site of the two famed battles of the Adobe Walls of 1864 and 1874, and this hallowed ground —just north of the Canadian River — is revered by descendants of all combatants. In June of 1924, a six-acre site was given to the Panhandle Plains Historical Society commemorating that month the 50th anniversary of the second battle of the Adobe Walls. In 1941 a monument dedicated to the Native Americans who fought and died in the Battle of 1874 was also erected. Both Monuments stand within the ranch today.