There Has Been A 22.5% Drop In The Number Of Farm Sales For The Three Months Ended July 2023 Than For The Same Period In 2022

There has been a 22.5% drop in the number of farm sales for the three months ended July 2023 than for the same period in 2022. 35.5% fewer dairy farms and 11.1% fewer dairy support farms were sold compared to last year. But there has been a nearly six percent rise in value with the median price per hectare $29,450 compared to $27,875 recorded for the three months ended July 2022. Dairy farms accounted for 12% of all sales and finishing farms 31%, while grazing farms took up 26% of all sales. REINZ rural spokesman Shane O’Brien says the results follow the trend of a reduction in the number of sales across the country in all sectors as farmers focus on controlling farm costs and higher interest rates and a predicted drop in farm gate milk prices.