x
Breaking News
More () »

Report: Hay and pasture land losses could hit $100 million

According to a report by the Fryar Risk Management Center of Excellence, the economic impact of the summer-long drought could approach $100 million in losses.

ARKANSAS, USA — The economic impact of the summer-long drought could approach $100 million in losses when it comes to hay and pasture field forage losses, according to a report by the Fryar Risk Management Center of Excellence. At least 20 counties in the state have been designated as disaster areas due to drought, according to the U.S. Department of Agriculture.

About 75% of hay and other pasture fields in Arkansas are deemed in poor or very poor condition, the USDA’s Crop Progress report in August indicated. Arkansas livestock farmers use pasture lands to feed their animals during the spring, summer and fall. Many cut hay to feed their livestock during the winter.

“Based on the 2017 U.S. Agriculture Census, Arkansas has 3.189 million acres of permanent pasture land. Assuming changes in acreage between 2017 and 2022 are negligible, 3.189 million acres is the basis for valuing forage production intended for grazing. The 2022 USDARMA county base value of forage production for grazing is $54.51/acre in Arkansas. This implies the total value of grazing acreage in Arkansas is $174 million,” the Fryar report states.

To read more, visit Talk Business & Politics. 

RELATED: NWA Crisis Stabilization Unit set to re-open with a new provider

RELATED: Arkansas receiving nearly $12 million in federal funding for road and bridge repairs

Follow 5NEWS on social media: Facebook | Twitter | Instagram | YouTube

Download the 5NEWS app on your smartphone:

Stream 5NEWS 24/7 on the 5+ app: How to watch the 5+ app on your streaming device

To report a typo or grammatical error, please email KFSMDigitalTeam@tegna.com.

Before You Leave, Check This Out