Coronavirus hits already struggling US farmers with drop in costs



On this photograph taken March 20, 2020, cattle rancher Joe Whitesell rides his horse in a area close to Dufur, Oregon, as he helps a pal herd cattle.

Gillian Flaccus | AP

U.S. farmers have endured a slew of monetary hardships over the previous few years. 

The U.S.-China commerce struggle despatched scores of farmers out of enterprise. File flooding inundated farmland and destroyed harvests. And a blistering warmth wave stunted crop progress within the Midwest. 

Now, the coronavirus pandemic has dealt one other blow to a susceptible farm financial system, sending crop and livestock costs tumbling and elevating considerations about sudden labor shortages.

"We had been already underneath excessive monetary strain. With the virus sending the costs down it is attending to be the straw that broke the camel's again," stated Iowa farmer Robb Ewoldt.

"We had been hoping for one thing good this yr, however this virus has stopped all our markets," he stated. 

Farmers are fearful about labor shortages proper earlier than planting season begins in April. In an effort...



Supply cnbc.com



Source marketwatch.com