Agribusiness Articles

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The global pandemic has injected never-before-seen uncertainty into the animal protein markets.

The Utah Department of Agriculture and Food (UDAF) has opened the application process for the UDAF COVID-19 Relief Grant Program to Utah agriculture operations that qualify.

The $16 billion in direct payments will financially assist producers with additional adjustment and marketing costs resulting from lost demand due to COVID-19. Utah State University Extension and Utah USDA Farm Service Agency are providing a seminar on the Coronavirus Farm Assistance Program (CFAP) that provides direct payment to farmers.

If there are any silver linings to the challenges we face right now, it may be the increased awareness of the need to increase broadband access in rural America.

Congress recently passed the Paycheck Protection Program and Health Care Enhancement Act, and it was signed into law by the President on April 24, providing an additional $320 Billion in funding for the PPP.

While the details of this package are still not fully known, the $16 billion in direct support to livestock, specialty and non-specialty crops will help to offset COVID-19-related losses as well as $3 billion in commodity purchases

President Trump directed USDA to craft this $19 billion immediate relief program to provide critical support to our farmers and ranchers, maintain the integrity of our food supply chain, and ensure every American continues to receive and have access to the food they need.

In order for additional funds to be helpful for agriculture, however, many outstanding questions need to be answered.

The economic uncertainty related to the impact of COVID-19 on the global economy and the demand destruction for many agricultural products contributed to significant price declines for ethanol, crops and animal proteins. While these commodity futures have declined significantly, one thing is certain, these futures prices are going to change

The sooner we have a timeline for getting this new assistance out, the better.

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