Cavalier County
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Republican
Single Copy Volume 133
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News Coverage
Copyright © Langdon, North Dakota
The U.S. Customs and Border Protection are holding informational town hall meetings to discuss proposed adjusted hours, read more on Page 7. Find Cross Country Regional results on Page 8.
Index Opinion youth church community sports ag prof dir PN classified
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The State of North Dakota depends heavily on its invaluable agricultural industry to be the backbone of the state's economy. It also depends on the linchpin of the industry, farmland, to supply a significant amount of the state's revenue. Land used for agricultural purposes totals approximately 40 million acres, or about 90 percent of the state’s land. When that highly sought after land comes up for sale, the question a lot of producers ask is not whether or not to buy but if they can buy. “The ag sector of the economy has been struggling for several years. In most instances, farm customers have continued to need the same, or even more, funds for operating expenses. In general, borrowers have become more cautious about taking on additional debt for equipment and land purchases,” Farmers & Merchants State Bank President Chalmer Dettler said. Farm real estate, including land and the structures on the land, account for over 80 percent of farm sector assets. Land ownership patterns vary widely, from retired producers who own all of their land to those who rent substantial amounts of the land. The pros and cons of land ownership versus just renting the land begins with the bot-
tom line. Land value appreciation and depreciation affects farmers differently depending on the amount of land they own versus rent. For many producers, farm real estate represents a substantial share of total household wealth and is the most important source of equity used to secure loans. The phrase 'land rich and cash poor' illustrates the common practice of using land as a source of collateral, making the rise and fall of land value have a significant
consumer. With recent cuts in rates by the Federal Reserve and the probability of more reductions in the near future, farm borrowers will likely see lower borrowing costs in the coming year,” Dettler said. When land prices rise, landowners gain additional collateral which may allow them to increase borrowing. When land prices fall, farmers lose equity, and their access to credit may shrink or even disappear. Kevin Pifer. founder and president of Pifer Auction and Realty, is an
impact on a producer's access to credit. “Over the last couple of years, loan interest rates have increased for all types of loans – ag, commercial, housing and
experienced auctioneer and notes that the inventory of farmland on the market is up approximately 10-15 percent from a year ago. “Farmland values continue
"Give Thanks, Give Back" during November
Thrivent Financial of Lang- in Langdon, explained that the don't simply sell insurance, and don cordially invites one and all office and organization, as a we don't simply do charitable to "give thanks and give back” whole, cares about the people work either. As a fraternal benthrough a food drive November within the community and efit society, we do both as we wants to help in any way pos- help Thrivent members be wise 1-15. “Our office has applied for sible. Thrivent Financial has a with money,” Overby explained. Pastor Karl Breddin of United and been accepted to do the long history of doing just that "Give Thanks, Give Back" project and is unique amongst financial Lutheran Church knows how between November 1 - Novem- advisors as it is a kind of mem- important events like this are, ber 15, and we are partnering bership organization called a not only to those that need it, but as a way to build up the with United Lutheran Church,” fraternal benefit society. “By definition, a fraternal community. While those that Laura Dease of Thrivent Finanneed the food cial, Langdon will have food said. “This is to eat, those part of the genthat give will erosity program have fulfillment with Thrivent. in other ways. It's also an easy “When we way to involve open ourselves the community to helping othand help out ers' needs, we the food panare more aware try.” of how we are Northland all connected. Region Thrivent Although we all has a set of crilike to receive, teria for those we are wired participating in to give,” Bredthe food drive. din said. “StudThe criteria is to gather 500 Thrivent Financial of Langdon invites you to "give thanks and give ies show that items for the back" during November and help fill the shelves of the Cavalier people who are the generous local food pan- County Food Pantry. are more happy try and create a pyramid. Posting a photo to benefit society is a not-for-prof- than those who are not. So, selfsocial media as part of the "Give it organization that provides ishly speaking, helping with this Thanks, Give Back" campaign insurance to its members and food drive or other charitable will get the group an additional – this is key – has to carry out events helps the giver as well as $500 donation for their food social, intellectual, educational, the receiver.” The Cavalier County Food shelf. In total, the challenge will charitable, benevolent, moral, fraternal, patriotic or religious Pantry will benefit from the adprovide gifts up to $30,000. Sarah Overby, Financial As- purposes for the benefit of its ditional food drive as the holisociate for Thrivent Financial members and the public. So we cont. on page 3
Farmers & Merchants State Bank 816 3rd Street, Langdon, ND 58249
(701)256-5431 • www.fmbanklangdon.com
Member FDIC
Monday, October 28, 2019
Number 43
To buy or not to buy when ag land is in short supply
By Melissa Anderson Republican Editor
Turn to Page 3 for the latest Langdon Area School District meeting.
Official Newspaper of Cavalier County Published since 1889
to hold steady and may have slightly increased in areas where there is pent up demand. The decline in interest rates the past two economic quarters has helped support stronger land valuations,” Pifer noted. The quality of land on the market is also better than in previous years. With good, quality land up for grabs, the driving factors behind the land valuations includes soil productivity, commodity prices, interest rates and federal crop insurance. Despite another challenging year in agriculture, land values through early fall in eastern North Dakota remain at historically lofty levels. This is, in part, due to the limited land supply that has been available for the past few years which has been a key factor for the stabilized land market. So who usually owns their farmland? The older, experienced producer. Recent data collected by the United States Department of Agriculture (USDA) found that only 5 percent of those owning at least 75 percent of their land were young beginning producers. Young, beginning producers were classified as those who were under 50 years old with 10 or fewer years of farming experience. “Baby Boomers still dominate the selling equation of the farmland. Nearly 10,000 Baby Boomers turn 65 every day. They either have or are in the processing of inheriting land or cont. on page 2
City of Langdon awarded Project of the Year The City of Langdon Commission and Moore Engineering have been working hard to bring the best solution to the need for updated infrastructure and streets to the residents of Langdon. That hard work has not gone unnoticed as the city was recently awarded Project of the Year from the North Dakota Chapter of American Public Works Association. Every year, Amer ic a n Public Works Association (APWA) r e quests nominations f o r project of the y e a r awards. “Moore Engineering nominated this project on behalf of Langdon because this project addressed several key priorities for the City of Langdon and solved a few infrastructure items by reducing operation and maintenance costs to the city, reducing the amount of electricity consumed in pumping operations, and lowering sanitary sewer piping to help
combat freezing sewer issues,” Andrew Aakre, Moore Engineering’s Project Manager for Langdon, said. The North Dakota Chapter of the APWA selected the City of Langdon and Moore Engineering as the winners for their Project of the Year for the efforts put into Phase I of the city’s water infrastructure and street improvement. The award is based on the following criteria: • Use of good construct i o n manage ment techniques a n d completion of the project on schedule. • Safety performance and demonstrated awareness of the need for a good overall safety program during construction. • Community relations as evidenced by efforts to minimize public inconvenience due to construction, safety precautions to protect public cont. on page 2