A new analysis from Texas A&M University is forecasting a massive decline in farm income. This study projects net cash income for dairy farms will drop 58 percent this year. Income for beef operations will decline 47 percent. Agricultural economist Bart Fischer said feedgrain and oilseed producers will see net cash income decline 15 percent. Following the release of this report, National Milk Producers Federation President and CEO Jim Mulhern said COVID-19 is “a grave danger for U.S. dairies” and the proposed payment cap in the federal disaster package is not adequate.
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