COVID-19 Related Cattle Industry Losses Estimated at $13.6B

DENVER, CO – A study released late Tuesday estimates cattle industry losses as a result of the COVID-19 pandemic will reach $13.6 billion. The study, commissioned by the National Cattleman’s Beef Association (NCBA) and conducted by a team of industry-leading agricultural economists, is intended to assist USDA in determining how best to allocate the CARES Act relief funds to cattle producers. Cow-calf producers will see the largest impact, with COVID-19-related losses totaling an estimated $3.7 billion, or $111.91 per head for each mature breeding animal in the United States. Without offsetting relief payments, those losses could increase by $135.24 per mature breeding animal, for an additional impact totaling $4.45 billion in the coming years. Stocker/backgrounder segment losses were estimated at $159.98 per head, for a total economic impact of $2.5 billion in 2020, while feeding sector losses were estimated at $3.0 billion or $205.96 per head.