A report released at this week’s Nebraska Farm Bureau annual convention shows the impact on the state’s ag economy from withdrawal from the North American Free Trade Agreement. The report indicates nearly half of Nebraska’s total agricultural exports are bound for Canada and Mexico. So, President Steve Nelson says walking away from the deal could cost Nebraska farmers and ranchers up to $55,000 annually.
The analysis shows exports of Nebraska soybeans and soybean meal in 2016 through NAFTA were worth $1.28 per bushel of soybeans. NAFTA exports are also worth $38.22 per head of beef, $22.16 per head of pork, $0.21 per bushel of corn and $0.75 cents per bushel for wheat.
Nelson says they want to share these numbers with US. trade negotiators and President Trump as the NAFTA talks continue.
He says the administration and trade negotiators need to understand how NAFTA impacts not only Nebraska’s agriculture and economy, but also the rest of the United States.
The report was authored by Farm Bureau Chief Economist Jay Rempe.
