Survey Shows Rural Economy Struggling, But South Dakota Exports Rise

Creighton University’s most recent Rural Main Street Index revealed that 31.8 percent of bankers believe the rural economy is in a recession, with 58.3 percent expecting a drop in farmland prices next year. Bank CEOs anticipate over 18 percent of ranchers and farmers to experience negative cash flow this year. Despite a 6 percent decline in regional exports of livestock and agricultural goods, South Dakota saw a more than 10 percent increase in profits from these exports compared to last year.