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Land Auction Results 01/17/2012

On Saturday, January 14, 2012 Glaub Farm Management auctioned 465.5 +/- acres in Clay County, AR.  The auction attracted 23 bidders from six states.  Tract 1 sold at $3,760/ac and Tract 2 sold at $4,200/ac averaging $3,968/ac across both.  Tract 2 sold for a premium compared to Tract 1 due to being a cotton farm, free and clear of any lease in 2012, and better drained than Tract 1.  In addition Tract 2 fit the buyer’s need as an addition to land already owned in the area.  Below is a summary of the two tracts.

Tract 1 is 245 +/- acres with approximately 92% cultivatable and 82% of the cultivatable acres are irrigated.  The irrigated acres had been precision leveled with two irrigation wells and underground pipe.  The farm is better suited for rice/soybean production and is located in area where cotton is the main crop produced.  This tract also has a verbal lease for the 2012 crop year.

Tract 2 is 220.5 +/- with approximately 95.2% cultivatable and 59.8% of the cultivatable acres are irrigated.  The farm is well suited for cotton production.  The sale included a pivot and power unit and is free and clear of any lease for the 2012 crop year. 

 


By Jeffrey Hignight, Farm Manager and Real Estate Broker at Glaub Farm Management.  Serving Landowners in Arkansas, Mississippi, Missouri, and Tennessee.

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