Extreme weather conditions across 80 percent of the continental U.S. in 2012 forced the Federal Crop Insurance Program (FCIP) to pay out to farmers a record-breaking $17.3 billion in crop losses during last year's growing season, according to a study by the Natural Resources Defense Council (NRDC).
The study, "Soil Matters," which details last year's crop losses county-by-county in all 50 states, found that losses from drought, heat and hot wind alone accounted for 80 percent of all farm losses, with Upper Midwest and Great Plains states hit hardest. And with no end in sight for extreme weather conditions, similar record-breaking insurance payouts will likely continue to increase, NRDC predicted.
Severe drought conditions in 2012 affected 67 percent of cattle production and about 70 percent to 75 percent of corn and soybean production, according to "U.S. Drought 2012: Farm and Food Impacts," a study by the U.S. Dept. of Agriculture. More than 80 percent of the acres of major field crops planted in the U.S. are covered by federal crop insurance.
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