Bloomberg writers Michael Hirtzer and Tatiana Freitas reported recently that, “Plant shutdowns are leaving the U.S. dangerously close to meat shortages as coronavirus outbreaks now spread to suppliers across the Americas.”
Farm Policy News
As COVID-19 Slows Meat Processing, Meat Shortages a Growing Concern; Livestock Producers Face Tough Choices
Bloomberg writers Deena Shanker, Michael Hirtzer, Jen Skerritt, and Lydia Mulvany reported this week that, “The U.S. is edging closer to possible meat shortages with another major plant taken off line.”
UN’s World Food Programme: COVID-19 Could Almost Double Acute Hunger
The Financial Times reported this week that, “Governments and international institutions are becoming increasingly worried about the growing constraints on access to food around the world as coronavirus disrupts economies and leaves workers without income for sustenance.”
COVID19 at Meat-Processing Plants Highlights Key Link, and Vulnerabilities, In Food Supply Chain
Bloomberg writers Stephen Joyce, Michael Hirtzer, and Jen Skerritt reported this week that, “Hundreds of National Guard personnel are being activated in Iowa as coronavirus sweeps through meat-processing plants in a state that accounts for about a third of U.S. pork supply.”
Five Governors Ask EPA for RFS Waiver
Bloomberg writers Jennifer A Dlouhy and Michael Hirtzer reported last week that, “Five American governors are asking the Trump administration to waive U.S. biofuel-blending requirements, arguing the cost of complying with the mandates on top of coronavirus-spurred lockdowns pose a ‘severe economic harm’ to the country.”
Trump Administration Announces Coronavirus Food Assistance Program, $19 Billion Relief Program for Agriculture
Wall Street Journal writers Andrew Restuccia and Jesse Newman reported on Friday that, “President Trump announced a $19 billion relief program for the agriculture sector, which has been hard hit by the coronavirus outbreak, turning to a playbook the administration has used in its trade fight with China.”
Federal Reserve: Observations on the Ag Economy- April 2020, COVID-19 Variables Noted
On Wednesday, the Federal Reserve Board released its April 2020 Beige Book update, a summary of commentary on current economic conditions by Federal Reserve District. The report included several observations pertaining to the U.S. agricultural economy.
Focus on Logistical Disruptions for Food, as USDA Assistance Plan Expected Soon
New York Times writers Michael Corkery and David Yaffe-Bellany reported this week that, “The nation’s food supply chain is showing signs of strain, as increasing numbers of workers are falling ill with the coronavirus in meat processing plants, warehouses and grocery stores.”
COVID-19 Effects Persist: Decline in Farm Income Seen, Processing Disruptions Continue, Phase One Trade
DTN Ag Policy Editor Chris Clayton reported this week that, “An updated economic analysis looking at the impact of COVID-19 projects crop farmers to see $11.85 billion in lower revenue in 2020 and all livestock sectors combined to see a $20.24 billion drop in receipts for the year.”
Smithfield Pork Processing Plant Closes, as COVID-19 Cases at Meat Plants an Increasing Worry
The Associated Press reported this week that, “Virginia-based Smithfield Foods announced Sunday that it is closing its pork processing plant in Sioux Falls until further notice after hundreds of employees tested positive for the coronavirus — a step the head of the company warned could hurt the nation’s meat supply.”
COVID-19 Hits Some Domestic Ag Markets, Disrupts Global Supply, As Pres. Trump Highlights Aid to Farmers
Bloomberg’s Mike Dorning reported last week that, “President Donald Trump said he has asked his agriculture secretary to ‘use all of the funds and authorities at his disposal,’ to aid U.S. farmers, whose financial peril has worsened in the coronavirus pandemic.”
USDA-FAS Reports Provide Updates on Ag Trade, Production, and COVID-19 Impacts
On Thursday, the USDA’s Foreign Agricultural Service (FAS) released three reports that provided updated information on agricultural trade, production and recent impacts of the COVID-19 outbreak. A focus on wheat and rice, protein markets, and soybeans are included in today’s update.
COVID-19 Hampers Some Markets, as Worker Safety and Well-Being Garner Increased Attention
DTN Ag Policy Editor Chris Clayton reported this week that, “As meatpacking plants and other food processors reduce capacity or temporarily close because of coronavirus cases, Vice President Mike Pence pointed to the vital nature of the food industry and told those workers ‘to show up and do your job’ to keep grocery shelves stocked.”
Appellate Court Denies Rehearing in RFS Case, While Decreased Fuel Consumption Results in Idling of Some Ethanol Plants
DTN writer Todd Neeley reported this week that, “Small refiners will not receive a rehearing before the entire U.S. Court of Appeals for the 10th Circuit in Denver on a case alleging EPA improperly granted small-refinery exemptions to the Renewable Fuel Standard in 2017 and 2018, the court announced in an order on Tuesday.”
Prices for Some Food Staples Increase, as COVID-19 Impacts on Labor Remain a Concern
Bloomberg writers Agnieszka de Sousa, Ruth Olurounbi, and Jen Skerritt reported on Monday that, “As the coronavirus pandemic penetrates more deeply into global supply chains, prices for key staples are starting to soar in some parts of the world.”
Global Food Markets “Well Balanced” During COVID-19 Outbreak, But Trucking Issues a Concern
The April edition of the Market Monitor, a publication from the Agricultural Market Information System (AMIS), stated that, “Despite much uncertainty caused by the rapid spread of COVID-19, global food markets remain well balanced: cereal stocks are expected to reach their third highest level on record this season and export availabilities for all AMIS crops are more than adequate to meet the anticipated demand.”
COVID-19 Impacting Food Purchasing Dynamics, as Ag Labor Concerns Persist
Wall Street Journal writer Kirk Maltais reported this week that, “Consumers’ rush to buy groceries is fueling a rally in orange-juice prices, making the usually sedate asset the best-performing commodity in the first quarter of 2020.”
During COVID-19 Outbreak, Some Countries Restrict Ag Exports– WTO / UN Stress Importance of Keeping Supply Chains Open
Wall Street Journal writers Kirk Maltais and Joe Wallace reported this week that, “Consumers are loading up on pasta, rice and bread. Farm supply lines are disrupted. Countries are restricting agricultural exports.”
COVID-19 and Oil Prices Taking Toll on Ethanol Plants
Bloomberg writers Isis Almeida, Fabiana Batista, and Michael Hirtzer reported on Friday that, “The coronavirus and cheap oil are hitting the fuel business so hard that ethanol plants are shutting down. Some may never come back.”
Federal Stimulus Includes Money for Agriculture, as Farm Suppliers Accelerate Planting Input Deliveries
Wall Street Journal writers Siobhan Hughes and Natalie Andrews reported on Friday that, “President Trump signed a roughly $2 trillion stimulus package into law, hours after House lawmakers hustled back to the Capitol to pass the aggressive response to the coronavirus pandemic that has staggered the U.S. economy.”