Land O’Lakes CEO: Farm Aid Falls Short
Trade war with China closes off massive market for soybean, dairy products
U.S. farmers are under “tremendous stress” as the trade war with China closes off a massive market for soybean and dairy products, adding further pain to industries beset by oversupply and low prices, Bloomberg reports.
That’s the view of Beth Ford, chief executive officer of Minnesota-based agriculture cooperative Land O’Lakes Inc.
Attending the Global Food Forum in New York last week, she said the Trump administration’s compensation package falls short of the losses being incurred by producers, many of whom can’t simply wait for tariffs to be lifted.
“The bean farmers are going to get $3 billion but it doesn’t make up for the $6 or $7 billion loss that they’ve already seen,” Ford said.