Lincoln Police Chief Jeff Bliemeister said on Tuesday that "analysis of digital evidence" led authorities to a body in rural Clay County they believe is that of Ms Loofe, 24, US broadcaster WFAA reports.
"We do believe that there is evidence of foul play," Bliemeister said.
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The body of Sydney Loofe is believed to have been found by police. Source: Supplied
Investigators had been using Ms Loofe's mobile phone signal to retrace her movements in the hours before she disappeared.
Her car was found in the driveway of her home in the US state of Nebraska, but she was nowhere to be seen, sparking fears she may have been abducted.
Her friend Terra Gehrig said she received a text message from Ms Loofe early the day before she disappeared.
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Bailey Boswell is believed to have been Ms Loofe's date. Source: Taney County Sheriff's Office
Ms Loofe failed to show up for her shift the following day at her department store job, or call her manager to let them know she wasn’t coming in.
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Friends told US broadcaster KETV they went to check on the young woman at her home on Thursday after she didn’t turn up for work, but nobody was home despite her car being parked there.
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Aubrey Trail is considered a person of interest in the case. Source: Taney County Sheriff's Office
Both allegedly left the state in the days after Ms Loofe disappeared and were arrested this week on unrelated charges.
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A missing poster shared online shows Ms Loofe's tattoos and her final Snapchat. Source: Supplied
Ms Boswell told police she dropped Ms Loofe off at a friend’s house after their date and never heard from her again.
Bliemeister said authorities have not yet been able to confirm her timeline.
"By their own statements on social media, we believe that Aubrey Trail and Bailey Boswell were two of the last people to see her before her disappearance," Bliemeister said.
"Thus they remain persons of interest."