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An Economic Assessment of the 1999 Drought: Agricultural Impacts Are Severe Locally, but Limited Nationally

Author

Listed:
  • Morehart, Mitchell J.
  • Gollehon, Noel R.
  • Dismukes, Robert
  • Breneman, Vincent E.
  • Heimlich, Ralph E.

Abstract

While the 1999 drought has had severe financial impacts on agricultural producers in the drought regions, its impact on U.S. agricultural production has been limited. The drought will reduce commodity receipts relative to 1998 by an estimated $1.29 billion. Estimated farm net income losses, including expected yield losses, increases in expenses, and insurance indemnities, will total $1.35 billion, about 3 percent of expected 1999 U.S. net farm income. Drought impacts in areas of the Northeast designated as extreme and severe drought are expected to reduce farmers' net income by nearly $840 million. The regions affected, the crops grown in those regions, the increased use of irrigation, and crop insurance coverage limited the drought's impacts on agriculture nationally. Drought also affects the rural population by reducing water supplies available for human and livestock consumption.

Suggested Citation

  • Morehart, Mitchell J. & Gollehon, Noel R. & Dismukes, Robert & Breneman, Vincent E. & Heimlich, Ralph E., 1999. "An Economic Assessment of the 1999 Drought: Agricultural Impacts Are Severe Locally, but Limited Nationally," Agricultural Information Bulletins 33655, United States Department of Agriculture, Economic Research Service.
    • Handle: RePEc:ags:uersab:33655
    DOI: 10.22004/ag.econ.33655
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    Cited by:

    1. Diersen, Matthew A. & Taylor, Gary, 2003. "Examining Economic Impact And Recovery In South Dakota From The 2002 Drought," Economics Staff Papers 32028, South Dakota State University, Department of Economics.

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    Keywords

    Agricultural Finance; Farm Management;

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