Research reveals massive losses for Iowa agriculture associated to COVID-19

An Iowa State College examine projecting the financial impacts of the COVID-19 outbreak reveals steep losses for Iowa agriculture, together with over two billion {dollars} every for the hog and ethanol sectors.

ISU ag economist Chad Hart says they projected the losses on
a month-by-month foundation via the top of the yr. However he says the ultimate numbers
may very well be much less, relying on how shortly the overall financial system recovers.

“That actually relies upon upon how COVID-19 responds to the social distancing that we’ve completed right here,” Hart says. “If we will flatten this curve and get it to the place we will restart the financial system, we will recuperate a few of these potential losses via better financial exercise.”

The Heart for Agricultural and Rural Improvement (CARD)
evaluation finds potential injury of $34 million for calves and feeder cattle,
$213 million for soybean, $658 million for fed cattle, $788 million for corn,
$2.1 billion for hogs and over $2.5 billion for ethanol.

Hyperlink to ISU information launch