Source: Chris Clayton, PROGRESSIVE FARMER, 4/13/20

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. The early partial analysis by the University of Missouri's Food & Agricultural Policy Research Institute (FAPRI) shows a potential overall $32.09 billion drop in cash receipts for crops and livestock. That leads to net farm income for 2020 dropping by $20 billion once lower input prices and higher government payments are included in the analysis.

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