Robust Cattle Prices and Reliable Water Rights Deliver $16 Million Farm Auction
- Brooke Bouma Kohlsdorf
- 3 days ago
- 3 min read
A large, family-owned farmland portfolio spanning southwest Kansas and the Oklahoma Panhandle exceeded expectations at a November multi-parcel auction, drawing strong interest from both local producers and out-of-state buyers.
The sale included 5,043 acres of irrigated cropland, dryland, grass, and CRP ground located within a 30-mile radius across Seward and Stevens Counties, Kansas, and Beaver County, Oklahoma. Marketed jointly by Peoples Company and The Lund Company, the auction generated $16,000,060 in total proceeds, averaging $3,184.81 per acre.
The property was owned by the Franz brothers, whose parents and grandparents began acquiring land in the 1950s and continued expanding the operation through the 1970s.
For decades, the family rented the land to local farmers. After recently inheriting the property, the brothers—who are not farmers themselves—opted to sell the entire portfolio as 17 individual tracts ranging from 157 to 639 acres.
Farm Sale Brings Mix of Buyers
According to Jim Hain of The Lund Company, who led the sale, results surpassed even optimistic projections.
“We sold the farm for the Franz brothers—5,043 acres—and the total came in about 13% above our dream figure,” Hain said. “Highlights were Tracts 1, 2, and 3—high-quality irrigated farmland—which brought a high bid of $6,700 per acre. Grassland topped at $1,558 per acre. Those were premium prices…better than expected.”
The auction attracted 53 registered bidders with 12 buyers ultimately purchasing land. The buyer pool included a mix of local operators and outside investors. Hain noted that nearly all successful local bidders either owned adjoining land or farmed nearby.
“Part of the contributing factor is that these areas have a lot of cattle influence,” Hain said. “And of course, the cattle market is doing really well right now, so it had a positive effect on the sale price.”
Most buyers intend to maintain the land’s current use, either farming it themselves or continuing existing rental arrangements.
The Importance of Water Rights in Farm Auction
A major driver of value was the property’s extensive irrigation infrastructure. Of the 5,043 acres, approximately 2,300 were irrigated, supported by 19 center pivots served by 17 wells.
Many of the wells recently tested at more than 600 gallons per minute, an exceptional feature in southwest Kansas, where water availability can be inconsistent. The portfolio also included 1,184.58 acres enrolled in the Conservation Reserve Program (CRP), generating more than $42,250 annually.
“Soils were highly productive, and the water was excellent,” Hain said. “Center-pivot irrigated ground with good-quality water sells for two to three times what dryland brings. That’s rare in this part of Kansas.”
Irrigated tracts are typically planted for corn, while dryland acres follow a wheat–milo rotation.
Land Value Trends: High Quality Ground Sells
The strong pricing achieved in the sale aligns with broader regional farmland trends. According to the USDA’s Land Values Summary released in August 2025, U.S. farmland values averaged $4,350 per acre, up 4.3% from the previous year.
Irrigated cropland led growth in the Plains, with Oklahoma irrigated cropland increasing 6.2% and Kansas cropland rising 7.3%. Pasture ground in Kansas also posted a 5.2% increase.
Hain said the auction reflects what he is seeing across the Midwest. “High-quality ground is bringing a premium, while lower-quality ground is more challenging. That’s fairly consistent across the region,” he said.
Local demand played a major role in the outcome, particularly for irrigated tracts. Many producers viewed the sale as a rare opportunity to expand near existing operations. Proximity to U.S.
Highway 83 and access to grain and livestock markets—including feedlots, dairies, and ethanol plants—added further appeal.
In the end, the sellers were pleased with the result. “The brothers were very happy with the price,” Hain said. “It was a great outcome for a family that has held this land for decades.”
