The Nebraska Farm Bureau estimates the ongoing trade dispute will cost the state’s farmers $943 million in lost revenue this year, but those losses will be partly offset by aid payments from the government.
Nebraska Farm Bureau economist Jay Rempe said Tuesday the lost revenue will add to the financial pressure on farmers in the state and hurt Nebraska’s economy.
Rempe says it’s not yet clear how much of this year’s $16 billion in federal aid payments will go to Nebraska farmers, so he couldn’t include that figure in his report.
Last year, the Farm Bureau estimated that Nebraska farmers lost between $695 million and $1 billion revenue because of the trade dispute. The state’s farmers received $574 million in aid payments last year.