OSU study estimates over $13 billion in losses to the cattle industry

OKLAHOMA CITY (KOKH) — Additional funding from the United States Department of Agriculture couldn't come soon enough for farmers, ranchers, and cattlemen.

A new study estimates the cattle industry has suffered more than $13 billion in losses.

Of those affected,cow-calf producers will see the largest impact totaling an estimated $3.7 billion in COVID-19 losses alone.

"It’s a huge number. The impacts are going to be for most of the year really no matter what," saysOklahoma State University Livestock Marketing Specialist, Darrell Peel.

Peel and a team of specialists from across the country worked quickly to produce the study so they could inform the United States Department of Agriculture just how hard the cattle industry has been hit by coronavirus.

From that study, the USDA has now offered $16 billion to help relieve farmers, ranchers and cattlemen.

But some believe even that amount of funding might not be enough.

Oklahoma Cattlemen's Association Executive Vice President, Michael Kelsey says, "That level of aid will not make anyone whole. But if it can keep people from going out of business then that in itself is a big accomplishment."