Farmers should act fast to receive economic relief
- Congress recently appropriated $310 billion of additional funding to the Small Business Administration’s Paycheck Protection Program and an additional $60 billion for the Economic Injury Disaster program. Funds are expected to only last 4 days.
New York partnering with state dairy producers to give excess milk to food banks, and those in need
- New York’s Gov. Cuomo announced on Monday that New York will be partnering with state dairy producers to process and distribute excess milk to food banks and those in need. o This excess milk will be made into yogurt and cheese and then distributed to food banks and those in need.
Texas Gov. Abbott to allow stay-at-home order to expire on April 30th
- Gov. Abbott will raise the stay-at-home order on April 30th
- Opening the state back up will occur as a two-phase plan
- Phase 1- All retail stores, restaurants, malls, and movie theatres will be allowed to reopen with 25% limited occupancy.
- Phase 2- Set to begin on May 18th (barring phase one is successful.) Occupancy levels will be increased to 50%. Further increases will hopefully occur in the near future.
Market to Market
- According to Market to Market, Iowa State University economists estimate a possible $.40 drop in the price of corn through the summer