Only about $7 billion of the Coronavirus Food Assistance Program funding had been spent as of last week. Combest, Sell and Associates managing partner Tom Sell says even with the remaining 20 percent of funds sent out, the USDA may only spend about $9 billion. “I think they were very conservative in their estimates and probably didn’t realize the impact of set pay limits on dairy and livestock. Between the unspent money and the $14.5 billion, Agriculture Secretary Sonny Perdue still has a lot of resources at his fingertips.” Sell expects the USDA to release a CFAP 2.0 in a few weeks. “I think the focus now will be what needs to be done to stand by producers for 2020. I think this CFAP 2.0 package will address the crop and take care of additional needs: cleanup on the livestock and dairy side.”
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