LINCOLN - Nebraska could suffer nearly $3.7 billion in agricultural income losses this year due to the coronavirus if economic conditions do not improve, the Nebraska Farm Bureau estimated Wednesday.Jay Rempe, the Nebraska Farm Bureau's senior economist, said “To provide some perspective, $3.7 billion is more than 80% of the state of Nebraska's entire budget.”

The analysis pegs potential estimated losses in the beef cattle sector at nearly $1 billion in 2020. Potential corn and soybean losses were estimated at $1.17 billion. Potential losses in the ethanol sector could reach $1.3 billion, assuming that ethanol plants are unable to operate at more than 75% of capacity for the remainder of the year.

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