COVID Impact on Grain Markets and Alabama Cattle Relief Deadline
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**As the American economy recovers from a steep Spring contraction, grain markets have been shaped by large supplies and low prices.
According to the Farm Credit Administration, poor Midwest weather and stronger than expected export demand have lifted corn and soybean markets recently, but crop returns could fall sharply next year if government assistance is lower.
For the protein sector, earlier supply-chain disruptions have waned, but large inventories and uncertain demand prospects continue to pressure prices.
**Alabama cattle farmers affected by the coronavirus pandemic have until October 9th to apply for $10.5 million in grants through the Alabama Agriculture Stabilization Program.
According to alfafarmers.org, farmers who sold cattle from April 16-May 15 are eligible. Slaughter cattle and bulls do not qualify.
The Alabama Department of Agriculture & Industries will distribute the payments, which are available thanks to state funds from the federal CARES Act.
Applications close October 9th at crf.alabama.gov.
http://alfafarmers.org/stories/news-detail/cattle-farmers-apply-for-cares-funds-through-oct.-9#.X15JyeeSlPY
**Farmers and ranchers impacted by Hurricane Laura may qualify for assistance from USDA programs.
Ag Secretary Sonny Perdue tells agrimarketing.com, the administration remains committed to supporting Gulf Coast ag producers, and we will be there, providing all the support we can, for as long as we can, to get them back on their feet.
The USDA is helping residents recover by helping farm production and conservation agencies weather financial impacts as well as assisting operations in recovery.
https://www.agriculture.com/news/business/usda-to-assist-farmers-and-ranchers-impacted-by-hurricane-laura
