A preliminary report from the University of Missouri’s Food and Agricultural Policy Research Institute captures the immediate impact the coronavirus is making on agriculture. In the analysis, FAPRI is forecasting a five to 10 percent reduction in crop prices for the 2020/21 marketing year and an eight to 12 percent reduction in livestock sector prices. “We are seeing a sharp drop in futures prices in particular for cattle, hogs and milk. Poultry prices are also off at the farm level,” explains Pat Westhoff, director, University of Missouri FAPRI. “The losses in the crop sector are very real and important, but in the near term it appears the livestock sector has been hit harder than the crop sector.” Livestock receipts are forecast to drop more than crop receipts in 2020, given the relative changes in market prices. FAPRI also forecasts a drop in 2020 net farm income by about $20 billion. No one knows for certain how the coronavirus will play out in the months ahead. Reports like this are complicated, because market conditions are always evolving. Read the analysis and listen to the story.