Source: POLITICO'S MORNING AGRICULTURE, 3/19/20

The newly approved coronavirus relief package, which President Donald Trump signed on Wednesday night, includes a dramatic expansion of the food safety net, along with other measures to respond to the worsening pandemic and economic slowdown, reports Pro Ag's Catherine Boudreau.

Here's a quick refresher of what's in the package: $500 million in food aid for pregnant women and mothers under the WIC program; $250 million to deliver meal packages to millions of seniors; and $400 million for USDA to buy up commodities and distribute them to food banks.

— It also suspends work requirements for food stamp recipients and allows states to use Supplemental Nutrition Assistance Program funds to help families with kids who qualify for free or reduced-priced school meals.

What's next? The Senate is already negotiating yet another stimulus package, the largest yet, that could push the total price tag past $1 trillion. The Trump administration proposed its own plan on Wednesday that would include $250 billion in direct payments to Americans starting on April 6.

The White House is also asking Congress to replenish USDA's coffers with an additional $161 million to pay for agencies' emergency actions and other consequences of the pandemic, Catherine reports.

— Among the needs: $55 million for the Animal and Plant Health Inspection Service to offset a drop in user fees as air traffic grinds to a halt; $33 million for the Food Safety and Inspection Service to support overtime pay for federal meat inspectors and additional hiring; and $14 million for the Forest Service to disinfect its leased spaces.

Financial fallout: The stock market on Wednesday continued tumbling off a cliff, wiping out virtually all its gains since Trump took office. It's also hitting agricultural markets: Cattle ranchers sent a letter to Trump asking for "emergency measures" to keep livestock producers afloat, such as directing agricultural lenders to extend deadlines for loan repayments and cutting capital gains taxes for farmers who sell off their land or equipment.

"The coronavirus upheaval has intensely worsened the financial and economic conditions of America's cattle farmers and ranchers," wrote Bill Bullard, CEO of R-CALF USA. "Many will not make loan payment deadlines, and many of those will not survive without immediate intervention."