This just in from Beef Magazine: the record-setting drought that’s hit Texas has a galactic price tag for the state’s agricultural economy.
The record $5.2 billion in losses exceeds the previous record of $4.1 billion during the 2006 drought. The losses also represent 27.7% of the average value of agricultural production over the last four years, says David Anderson, AgriLife Extension livestock economist.
This is sad news indeed, and the complete damage isn’t even done yet. Our hearts go out to our Texan counterparts.