Rural bank executives in Iowa and nine surrounding states surveyed monthly by Creighton University see economic improvement in August compared to July. Creighton’s “Rural Mainstreet Index” for Iowa advanced nearly five points, but the Iowa bank CEOs surveyed indicated a slight downturn in hiring and a drop in farmland prices in August compared to July. The overall index was 42.6, below the “growth neutral” or 50 point mark.
Creighton economist Ernie Goss said corn and soybean prices are improving, which is lifting the rural economy. “Grain prices have moved somewhat higher,” Goss said. “It’s still not where we’d like to see them or at least I’d to see them and the ranchers and farmers would like to see them, but still up, but now we’re getting some threatening news, of course, on the livestock front.”
Cattle prices have fallen after President Trump announced he’ll allow more beef imports for 90 days to produce ground beef at a discounted price for consumers. “That’s going to have a negative affect on the ranchers out there, and farmers,” he said. “Also, we’ve got beef and cattle coming across the southern border from Mexico…That’s also going to push livestock prices, certainly beef prices down.”
In early 2025 the USDA imposed a ban on live cattle imports from Mexico due to concerns about a deadly parasite called the New World Screwworm. The agency lifted that embargo last week. Goss says so far this year exports of Iowa livestock and agriculture goods are up more 6%. Ag exports from Iowa to Japan are up 24.5% compared to 2025.
Iowa, Nebraska and Illinois were the states below “growth neutral” in this month’s “Rural Mainstreet Index.” Minnesota’s was highest, while Wyoming’s had the broadest jump from July to August.
