A recent study estimates that Illinois farms will lose approximately $67.2 million each year due to natural disasters, averaging about $960 in losses per farm. The analysis, conducted by the Trace One Group, highlights that drought is the leading cause of economic losses for the agriculture industry in Illinois and across the nation.
While California counties dominate the rankings for expected annual agricultural losses—with 14 of the top 15 counties—no Illinois counties are listed among the top 100 for highest expected losses due to this year’s drought or related issues.