FarmPolicy

February 23, 2019

Policy Issues; Ag Economy; Biotech; and Regulations

Policy Issues

Ron Hays reported yesterday at the Oklahoma Farm Report Online that, “The money continues to flow from Crop Insurers to farmers and ranchers as 2011 rapidly comes to a close. According to the latest statistics of indemnity payments that have been made nationally, $7.938 billion has paid to farmers for losses to their 2011 crops- based on data through the close of business December 27, 2011.

“More than a fourth of that money has been handed over to Texas farmers who have received $2.213 billion with likely more claims yet to be paid. For every dollar paid into crop insurance for the 2011 crops in Texas- $2.04 has been paid out to date.

“According to Scott Bulling with the Oklahoma Farm Bureau, Oklahoma’s share of Crop Insurance payments now totals $381,789,941, with a loss ratio of $1.89 paid out for each dollar that was paid in. Bulling believes there are still a significant amount of claims to be paid to Oklahoma producers for the 2011 crop year, and that the final indemnity total for the state could approach or exceed $400 million.”

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