The U.S. cattle industry is estimated to see losses of $13.6 billion due to the COVID-19 situation, according to an analysis released by the National Cattlemen’s Beef Association (NCBA).
Cow-calf producers are expected to see the biggest impact, with losses forecast at $3.7 billion or $111.91 per head for each mature breeding animal. Stocker/backgrounder losses are put at $156.98 per head for a total impact of $2.5 billion for 2020, while feeding sector losses are figured at $205.96 per head or $3.0 billion.
“This study confirms that cattle producers have suffered massive economic damage as a result of the COVID-19 outbreak and those losses will continue to mount for years to come, driving many producers to the brink of collapse and beyond if relief funds aren't made available soon,” said NCBA CEO Colin Woodall. “This study also clearly illustrates the fact that while the relief funds provided by Congress were a good first step, there remains a massive need for more funding to be allocated as soon as members of Congress reconvene.”
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