Cattle industry losing billions to COVID-19, report finds
April 19, 2020
STILLWATER, Okla. – The U.S. cattle industry lost an estimated $13.6 billion by early April this year due to the COVID-19 pandemic, and more economic damages to agriculture are likely, according to a study commissioned by the National Cattlemen’s Beef Association released this week.
The research conducted by Oklahoma State University identified revenue losses of $3.7 billion so far this year in the cow-calf sector alone, the equivalent of $112 per head for each breeding animal in the country. If that impact is not offset, long-term damages to producers are projected to rise by another $...