The US agriculture industry is being destroyed as the coronavirus pandemic slashes commodity values, cuts off supply chains, and closes markets to their products.
Fuel, retail, restaurants, and manufacturing all leverage ag products such as livestock, cotton, soy, corn or the hundreds of other products that are at the center of our economy.
Anyone that does not understand the utter stupidity of not opening up the country does not understand what is at stake.
The COVID-19 outbreak has created a situation the American Farm Bureau Federation’s chief economist John Newton calls simply “catastrophic.” The widespread decline in demand, combined with most Americans’ move from now-shuttered restaurants to grocery stores for most of their food needs, “is having a ripple effect throughout the farm economy,” he adds.
The beef industry expects to lose $13.6 billion, pork producers $5 billion, and the dairy industry $2.85 billion.