News
Rural bankers pessimistic about economic growth
The latest Rural Mainstreet Index found that lower farm commodity prices have pushed bank loans to a record high.
Creighton University economist Ernie Goss says the July survey of rural bank CEOs revealed some concerns about farmer profitability.
“We asked the bankers what the number one issue facing their local economy is. By far it was agricultural commodity prices.”
According to the survey, rural bankers remain pessimistic about economic growth for their area over the next six months.
But Goss tells Brownfield livestock prices have been a bright spot.
“The US consumer continues to buy beef and pork. That spills over into the agricultural economy.”
Goss says the total RMI reading for July was above growth neutral for the second consecutive month, which is the first time that’s happened since the summer of 2023.
Add Comment