In a webinar hosted by the University of Nevada – Reno on May 5, Don Close, senior animal protein analyst at Rabobank and Ty Lawrence, professor of animal science at West Texas A&M University, discussed the present pandemic and what they predict is coming down the pipeline for the beef industry. 

Estimating the total economic effect of the COVID-19 pandemic on the economy and the beef industry requires a number of assumptions based on imperfect information. As a result, any economic impact forecast has a wide confidence interval which can only narrow as the pandemic abates and post-quarantine economic data become available.

Falling cattle prices and both market and consumer unrest has increased the pressure from beef industry groups and lawmakers on the USDA to increase their investigations into the cattle markets.

U.S. Secretary of Agriculture Sonny Perdue has unveiled the Coronavirus Food Assistance Program (CFAP), designed to take several actions to assist farmers and ranchers and consumers in response to the COVID-19 national emergency.

A study released April 14, 2020, estimates cattle industry losses as a result of the COVID-19 pandemic will reach $13.6 billion.

More tremors are hitting the beef industry as a key packing facility in Colorado will be closing for almost two weeks to address rising COVID-19 health risks to plant employees.

The U.S. meat industry faces unprecedented threats as COVID-19 sweeps through labor forces at meat processing facilities nationwide.

Get the latest news updates, press releases and other resources to help members of the beef industry deal with the impact of COVID-19. Email additional news and resources to editor@progressivecattle.com.

The sale must go on – or does it?

Congress passed the Coronavirus Aid, Relief and Economic Security (CARES) Act on March 31, pouring $2 trillion into the economy and aid for those affected by COVID-19. Although some lawmakers balked at the hefty price tag, there was strong bipartisan support for the bill.