The Rural Mainstreet Index sank below growth neutral for the 8th straight month, last month, and farm loans soared to a record high. The region’s overall reading for April increased to 45.8 from 38.0 in March, or its lowest level since June 2020. The index ranges between 0 and 100, with a reading of 50.0 representing Growth Neutral. Creighton University Economist, Ernie Goss, says things continue to point toward solid, but slowing growth in farmland prices this year. He says despite weak farm conditions, very few bankers reported any uptick in farm loan delinquencies.
The Kansas RMI for April rose to 36.0 from March’s 30.2. The state’s farmland price index climbed to 52.6 from 52.1 in March. The new hiring index for Kansas increased to 51.9 from 47.7 in March. According to trade data from the International Trade Association, exports of agriculture goods and livestock for 2024 year-to-date were up 6.7% from the same period in 2023.
