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

Date
2020-04-01
Authors
Hayes, Dermot
Crespi, John
Hart, Chad
Hart, Chad
Hayes, Dermot
Jacobs, Keri
Schulz, Lee
Crespi, John
Schulz, Lee
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Center for Agricultural and Rural Development
Abstract

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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