CHICAGO, Feb 13 (Reuters) - Quality farmland prices in the southern Midwest and mid-South region of the U.S. crop belt edged higher in the fourth quarter, bouncing back from a third-quarter slide which halted years of gains, the Federal Reserve Bank of St Louis said on Thursday.
“Quality farmland values across the district averaged $5,868 per acre in the fourth quarter of 2013, which was modestly higher than the third-quarter average of close to $5,300 per acre,” the bank said in its quarterly survey of 49 district banks.
“When measured against figures from a year earlier, quality farmland values in the eighth district increased by 12.2 percent.”
The district comprises state of Arkansas and portions of Illinois, Indiana, Kentucky, Mississippi, Missouri and Tennessee.
The region is a top producer of corn, soybeans, hogs, winter wheat and other cash crops. (Reporting By Christine Stebbins; Editing by Sophie Hares)