N A T I O N A L CATTLEMEN
The trusted leader and definitive voice of the beef industry May 2020 • Vol. 36, No. 7 • NCBA.org
Photo submitted by NCBA member Jessie Rudolph, JLR Cattle, Nebraska.
NCBA Delivers Much-Needed Relief for the Cattle Industry Corporation will receive $14 billion as a reimbursement for net realized losses not previously reimbursed and over $45 million will be used for rural development. This money will go to support business owners, expand distance learning, and fund telemedicine in these communities. Funding of $80 million will also go to develop necessary medical countermeasures and vaccines. Another part of aid funding to the beef industry is the $100 million that has been allocated to keep properly inspected beef moving through the supply chain, by covering expenses associated with commodity grading, inspection activities, and paying relocation costs of USDA inspectors
that have to move due to COVID-19. The CARES Act also included funding for the Paycheck Protection Program (PPP), which was aimed at helping small employers. The initial round of PPP funding was fully depleted less than two weeks after the program became operational, thus making the Paycheck Protection Program Increase Act a top priority for Congress and the White House. This bill provides an additional $321 billion in funding for PPP, with $60 billion set aside for small lenders and community-based financial institutions that serve the needs of underserved small businesses. Due to NCBA’s efforts, authorizing language was included to allow agricultural
enterprises with less than 500 employees to be eligible to receive Economic Injury Disaster Loan (EIDL) grants and loans. NCBA has been working since day one to eliminate PPP barriers to entry for agricultural producers and will continue these efforts throughout the government funding process. Shortly after Congress passed the CARES Act NCBA Vice President, Government Affairs Ethan Lane said: “As soon as this crisis hit, NCBA began working with all segments of the beef supply chain to do whatever was necessary to keep the supplies moving and to keep producers producing.
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NATIONAL CATTLEMEN’S BEEF ASSOCIATION 9110 E. NICHOLS AVENUE, SUITE 300 CENTENNIAL, CO 80112
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In late March, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into federal law. The $2 trillion CARES Act was the third round of federal government support in the wake of the coronavirus public health crisis and associated economic fallout. The bill appropriated $9.5 billion to the United States Department of Agriculture (USDA) to directly support agricultural producers who have been impacted by COVID-19. The $9.5 billion directed to USDA by the CARES Act will provide support for agricultural producers, such as specialty crop farmers, suppliers of local food systems, and livestock producers. Along with this money, the Commodity Credit
*At time of printing South Central market numbers were not available yet.
MARKET SNAPSHOT WEEK ENDING 4/24/2020 (prices vs. year ago) $96.77
CHOICE BOXED BEEF $231.58
OMAHA CASH CORN $3.02
25%
.4%
16%
SOUTH CENTRAL 500-600 LB. STEERS $153.14
LIVE FED STEERS
*NA *NA
$128.42
$232.50
$3.58
IN THIS ISSUE Leadership Comments Market Matters
3
6&7
Governance 10 Federation News
14
Checkoff 15