Economists: Virus will cause huge damage to Iowa ag industry
Published: Apr. 15, 2020 at 11:02 AM CDT
A group of agriculture economists are estimating the coronavirus pandemic will cause billions of dollars in damage to Iowa's crop and livestock industries.
In a report released Wednesday, the economists say the ethanol industry will see $2.5 billion in losses due to lower fuel demand and the state's hog industry $2.1 billion in losses.
Damage to corn is estimated at $788 million, soybeans at $213 million and cattle $34 million. The economists note the numbers will change as the pandemic evolves.
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