The Impact of COVID-19 on Iowa’s Corn, Soybean, Ethanol, Pork, and Beef Sectors

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2020-04-01
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Hayes, Dermot
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Crespi, John
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Hart, Chad
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Schulz, Lee
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Center for Agricultural and Rural Development

The Center for Agricultural and Rural Development (CARD) conducts innovative public policy and economic research on agricultural, environmental, and food issues. CARD uniquely combines academic excellence with engagement and anticipatory thinking to inform and benefit society.

CARD researchers develop and apply economic theory, quantitative methods, and interdisciplinary approaches to create relevant knowledge. Communication efforts target state and federal policymakers; the research community; agricultural, food, and environmental groups; individual decision-makers; and international audiences.

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In this study, we estimate the COVID-19 outbreak’s revenue impacts on some of Iowa’s largest agricultural industries. We estimate overall annual damage of roughly $788 million for corn, $213 million for soybean, over $2.5 billion for ethanol and $347 million in losses due to falling ethanol prices*, $658 million for fed cattle, $34 million for calves and feeder cattle, and $2.1 billion for hogs. As more data become available and as the pandemic evolves, these estimates will certainly change, but for now they represent our best assessment of the impact on these industries.

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Wed Jan 01 00:00:00 UTC 2020
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