The SBA's interim final rule for the Paycheck Protection Program confirms the SBA will remove industry-specific revenue thresholds, making U.S. agriculture enterprises eligible for the program.
A slowing economy is bad for all of the animal proteins, but beef - typically the highest priced of the proteins & considered a luxury product in economic terms – stands to suffer the most.
Shuttered schools, universities, restaurants, bars and cafeterias are no longer buying milk, meat, fruits, vegetables and other food, causing a downward spiral in crop and livestock prices.
In the past month, dairy prices have dropped 26-36%, corn futures have dropped by 14%, soybean futures are down 8% and cotton futures have plummeted 31%. Hog futures are down by 31%.