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June 10, 2020Lincoln, Neb. |  By: AP

Potential Nebraska ag losses pegged at $3.7B from pandemic

LINCOLN, Neb. (AP) - The Nebraska Farm Bureau says the state potentially faces nearly $3.7 billion in agricultural losses from the coronavirus pandemic if economic conditions do not improve.

The Lincoln Journal Star reports the estimate Wednesday projects revenue losses for this year's commodities. It does not account for any financial assistance farmers and ranchers receive from COVID-19 relief programs. 

Jay Rempe, the Nebraska Farm Bureau's senior economist, said the analysis "clearly demonstrates the magnitude of the financial challenges currently facing farm and ranch families." He says that impact could be felt across the broader rural economy.