The Nebraska Farm Bureau president says farm and ranch losses to the devastating flooding could reach $1 billion in the state.
President Steve Nelson estimates $400 million on crop losses because of crops that will be planted late _ if at all. He also estimates up to $500 million in livestock losses as the state struggles with swollen rivers and breached or overtopped levees following heavy rain and snowmelt.
He told the Omaha World-Herald, “That gets us close to a billion dollars. I would not be surprised to see the lost agriculture numbers go over a billion dollars.”
Agriculture amounts to 20 percent of the state’s gross domestic product and provides one of every four jobs.
The Nebraska Emergency Management Agency says the current public impact of flooding in Nebraska is $205.5 million and the private impact is $59.7 million.
Topics Profit Loss Flood Agribusiness
Was this article valuable?
Here are more articles you may enjoy.
FCC Bans Wireless Router Imports, Citing Security Concerns 
Fannie Mae, Freddie Mac Will Again Accept Actual Cash Value Home Insurance 
Berkshire Hathaway to Invest $1.8 Billion in Tokio Marine 
Nebraska Fires Burn Grazing Lands, Threaten Plans to Grow US Cattle Herd 
