Report: Tariff related losses cost Nebraska farmers nearly $1B in 2019

A new analysis by Nebraska Farm Bureau estimates the ongoing retaliatory tariffs imposed by countries on U.S. ag exports will cost Nebraska producers 943 million dollars in lost revenues in 2019.

Soybeans and corn account for most of those losses, with Nebraska soybean producers losing nearly 590 million dollars and corn growers about 250 million dollars.

Nebraska Farm Bureau economist Jay Rempe says Market Facilitation Program payments to producers have helped, but they don’t cover all of their losses.

“The MFP payments, based on last year and what I’m seeing this year, may be 60 to 65 percent of the loss to the farmers on the ground,” Rempe says.

Rempe says farmers have been patient with the Trump Administration, but that patience is starting to be tested.

“Not only with trade issues, but some of the other decisions that have been made related to biofuels and ethanol,” he says. “There have been some good things come from this administration and I think they’re exhibiting some patience in some of these trade issues because of that.  But I think it’s starting to wane and wear a thin, a little bit.”

Excerpts from NE Farm Bureau conference call with reporters

  • I can’t understand how the farmers can continue to support trump when his agenda is so destructive to them and our country?

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