Creighton University’s Rural Mainstreet Index for February slumped from January’s tepid reading, according to the monthly survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and energy. The survey includes banks in Iowa.

 The index, a 100-point scale, fell to 46.4 in February from 50.9 in January. Iowa’s index fell to 46.7 from January’s 51.6. The state’s farmland-price index for February rose to 41.5 from January’s 38.7. Iowa’s new-hiring index for February rose to 57.2 from January’s 51.7. Iowa Rural Mainstreet job growth for the past 12 months was 1.7 percent.

 The region fought the effects of low commodity prices. The farmland and ranchland-price index for February was unchanged from January’s weak 39.4.

 Even though farm income has weakened, more than one-fifth, or 22.2 percent, of farmland sales are for cash according to bankers in February.  This is little changed from 23.3 percent in October of 2014.

 The February farm-equipment sales index plummeted to 19.5 from 29.5 in January.  The index has been below growth neutral for 19 straight months.

 On the plus side, the February hiring index jumped to 56.5 from January’s 52.8. Read more