Coronavirus Hits NE's Farmers Hard

Coronavirus Hits NE's Farmers Hard

HIT ALMOST EVERYSECTOR OF AMERICANLIFE AND THEAGRICULTURALECONOMY IS NOEXCEPTION.WITH RESTAURANTSCLOSED AND FOODPROCESSING PLANTSAT REDUCEDCAPACITY, FARMERSAND RANCHERS INNEBRASKA AND IOWAARE TAKING A HIT.REPORTER JONKIPPER TELLS USJUST HOW BIG OF AHIT IT IS."FOR US FARMERS,WE LIVE IN ON HOPEAND WE'RE LOSINGTHE ABILITY TO SEEHOPE IN OURFUTURE." BILLARMBRUST HAS BEENAT IT FOR OVER 40YEARS.GROWING CORN ANDSOYBEANS, ANDRAISING CATTLE ATHIS OPERATION INRURAL ELKHORN."RIGHT NOW, WE'RE INA SITUATION WHEREWE'RE NOT REALLYLOOKING ATMAXIMIZING PROFITS,WE'RE TRYING TOMINIMIZE LOSSES." ATA VIRUTAL PRESSCONFERENCEWEDNESDAYMORNING, THENEBRASKA FARMBUREAU SHOWEDHOW WIDESPREADTHE PROBLEM IS.SENIOR ECONOMISTJAY REMPE SAYS THEFIRST KNOCK CAMEWHEN RESTAURANTSCLOSED, ANDETHANOL PLANTSREDUCED CAPACITY.THEN - MEATPROCESSING PLANTSCLOSED...ADDING TOTHE TROUBLE."IT WAS A DBLEWHAMMY TO THELIVESTOCK SECTOR INTHE STATE OFNEBRASKA." THENUMBERS ARESTARTLING.THE PROJECTEDLOSSES FOR BEEFJUST SHORT OF ONEBILLION DOLLARS,PORK AROUND 166MILLION DOLLARS,PLUS IF YOU COMBINECORN AND SOYBEANS,THAT LOSS IS OVERONE BILLION.ALL OF IT EQUALINGTO ABOUT A 2.38BILLION DOLLAR LOSSIN NEBRASKA.THAT'S 11 PERCENTOF STATE'S AGREVENUE."ARMBRUST DOESWORRY ABOUTYOUNGER FARMERS,WHO ARE ALREADYTAKING HITS OVERTHE LAST FEW YEARS,NOW THEY MAY JUSTLEAVE FARMINGALTOGETHER DUE TOTHE PANDEMIC."JON LL BRIDGE"I DON'T THINKTHEY'RE GOING TOHAVE A CHOICE, ITHINK THEY'RE GOINGTO BE REMOVEDFROM THE BUSINESS."ARMBRUSTARMBRUST SAYS DUETO LOW PRICES OVERTHE LAST FEW YEARSFARMERS HAVEPRODUCED MOREPRODUCT THANUSUAL TO MAKE UPFOR THE LOSS.NOW WITHDECREASED DEMAND,THERE'S NOWHEREFOR THE CROP, ORTHE LIVESTOCK, TOGO."IT BECOMES AS YOUCAN PROBABLY FINDOUT PRETTY QUICK APROBLEM THATDOESN'T HAVE ASOLUTION." AND ASSOMEONE WHOWANTED TO FARMUNTIL HE PHYSICALLYCOULDN'T DO IT, HE'SHAD TO RE-THINKWHEN HE MIGHTRETIRE."I WOULD FARM ASLONG AS I POSSIBLYCAN.WHEN DOES ITBECOME A HOBBYFARM IS PROBABLYTHE QUESTION ON MYWIFE'S MIND OR MYBANKER'S MIND."ARMBRUSTIN ELKHORN JONKIPPER 3NNTHE NEBRASKA FARMBUREAU BELIEVES AWORLDWIDEECONOMICRECOVERY, THATINCLUDES BRINGINGBACK TRADE TO ASIA,WILL HELP FARMERSAND RANCHERS GETOUT OF THE HOLETHEY'RE CURRENTLYIN.