Drought and forage losses in recent years have brought more attention to forage insurance. University of Missouri economist Ryan Millhollin tells Brownfield the drought of 2012 got the interest going and the number of buyers in Missouri grew ten-fold by last year.
And, he says because of drought this year there have been forage insurance payouts in the state, “We saw some payments from $30 to $40 bucks an acre for grazing ground to up to, like, $150 bucks an acre for hay ground.”
Millhollin says payments are based on actual rainfall received by nearby weather stations, “Of how much rainfall should have occurred based on that data.
Continue reading Forage insurance deadline nears at Brownfield Ag News.
