Farmers suffer as plants shuttered: Hayes

June 1, 2020

Dr. Dermot HayesDermot Hayes, professor, was quoted in a May 30 Bloomberg story, "Opaque World of American Meat Trading Leaves Farmers Squeezed."

“The negotiated market has fallen through the floor,” Dermot Hayes, agriculture economist at Iowa State University, said by telephone.

That drop had an outsized impact. Even though the trades are a tiny part of the market, they’re used to calculate contracts all across the industry. They also help give direction to futures traded on the Chicago Mercantile Exchange, the global benchmark.

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