Chad Hart, ISU Department of Agronomy Economist recently spoke to Ames Golden K members who continue to meet virtually every Thursday at 9 AM. Highlights include:
- The COVID-19 pandemic has caused a significant slide in Corn and Soybean prices nationally and internationally.
- Hog and cattle prices and supply have been greatly affected by COVID-19 with drops up to 50% due in part to beef/pork plant shutdowns due to COVID-19 outbreaks. There has been some recovery of late.
- Ethanol manufacturers in Iowa have experienced losses of 50-95% due to the pandemic.
- The Federal Government has allocated $16 billion to farmers and ag producers to make up for some of their losses.
- Due to ideal weather conditions, Corn and Soybean planting has been completed considerably ahead of schedule.
- Indicators show that 2020 Corn and Soybean crop yields could be the largest ever!
Iowa Ag Economy in COVID Times
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Last Updated: October 4, 2022 by Joe T
Category: News, Speakers
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