Yields

Summer 2020

Northwest Farm Credit: Rural, Real Estate, Operating Loans; Farm Loans; Country Home Loans; Lot Loans; Equipment Financing; Young and Beginning Producers; Crop Insurance; Business Management Education; Property Appraisals

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feature story Trudi Peterson and her family raise sheep, cattle and grain near Lewistown, Montana. In March, their steers were in a small feedlot in Nebraska, with just a month left before processing. COVID-19 disruptions at processing plants forced the Petersons to hold steers on feed for at least 30 more days. With delayed payments and additional feed costs, they now hope to have their cattle finished mid-June. The number of calves and fat cattle outside of feedlots in May reached the highest level since 2009. Now, with packing capacity nearly back to normal, the backlog continues as the food service industry slowly reopens. Trudi says COVID-19 impacts to the wool market are still unknown as international borders begin to reopen. But there are bright spots. "I'm seeing more people now who are starting to value local businesses," says Trudi. "We're getting calls from people looking for locally sourced meat, because they want to know where their meat is coming from. My son's girlfriend is looking at more local markets for selling our lamb and I'm excited to try that. Unfortunately, the butcher shops are feeling the brunt of this shift. Our butcher is 60 miles from here and he said it would be February before he could fit us in." During state lockdowns, the Petersons have been able to spend more time together as a family. Their daughter, an employee of Farm Credit of America in Omaha, Nebraska, and her family spent seven weeks on the Montana ranch. "They were able to work from home and their son was able to finish school from here. We were lambing at the time, so my young grandsons (ages five and seven) got to learn a lot about life and death," Trudi says. "I think other people are feeling the value in being home with family, too." COVID-19 Disruptions Perspectives from Northwest Producers In early June, we visited with Local Advisory Committee members from across the Northwest to hear how current events are impacting their industries, businesses and families. They shared what they're experiencing and learning. And, how current events are changing their business perspectives and planning for the future. Trudi Peterson Judith Gap, Montana 7 Northwest Farm Credit Services

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