A recent study estimates cattle industry losses as a result of the cornonavirus (COVID-19) pandemic will reach $13.6 billion. The study was commissioned by the National Cattlemen’s Beef Association and its state affiliated and conducted by a team of industry-leading agricultural economists led by Derrell Peel, Professor of Agribusiness and Extension Livestock Marketing Specialist at Oklahoma State University, to assist the United States Department of Agriculture in determining how best to allocate relief funds to cattle producers.
The study shows cow-calf producers will see the largest impact, with COVID-19-related losses totaling an estimated $3.7 billion, or $111.91 per head for each mature breeding animal in the United States. Without offsetting relief payments, those losses could increase by $135.24 per mature breeding animal, for an additional impact totaling $4.45 billion in the coming years.
Stocker/backgrounder segment losses were estimated at $159.98 per head, for a total economic impact of $2.5 billion in 2020, while feeding sector losses were estimated at $3 billion or $205.96 per head.… Continue readingRead More »