In this study, we estimate the COVID-19 outbreak’s revenue impacts on some of Iowa’s largest agricultural industries. We estimate overall annual damage of roughly $788 million for corn, $213 million for soybean, over $2.5 billion for ethanol and $347 million in losses due to falling ethanol prices*, $658 million for fed cattle, $34 million for calves and feeder cattle, and $2.1 billion for hogs. As more data become available and as the pandemic evolves, these estimates will certainly change, but for now they represent our best assessment of the impact on these industries.
Hart, Chad; Hayes, Dermot J.; Jacobs, Keri L.; Schulz, Lee L.; and Crespi, John, "The Impact of COVID-19 on Iowa’s Corn, Soybean, Ethanol, Pork, and Beef Sectors" (2020). CARD Policy Briefs. 30.