Poultry, Livestock Producers Could See Relief From Latest Stimulus Package
Congress has assigned $13 billion in the new COVID-19 relief bill to help farmers who have been affected by the pandemic. Those dollars include $1 billion for contract poultry and livestock growers, and would cover up to 80% of losses.
Farmers could receive $20 per acre for commodity crops like corn that have fallen in price by at least five percent.
John Newton is the chief economist for the American Farm Bureau, and says for many, the money is a lifeline.
"It costs a lot of money to put a crop in the ground every single year," said Newton. "When you lose your market immediately this helps them meet the needs of their lender, pay any outstanding obligations, they may have [and] pay their employees."
Newton said the aid is needed but it’s too soon to say if it's enough.
"I think it's a little early to make that judgment on whether or not it's enough, I think there are certainly producers that that still haven't got assistance that definitely need it," said Newton.
An analysis by the American Farm Bureau found broiler chicken farmers were left out of the CARES Act because the farmer had to own the commodity, not be on contract with a company.
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