The year 2023 has already yielded its fair share of major weather disasters. The National Oceanic and Atmospheric Administration has confirmed 15 weather disasters with total economic losses exceeding $1 billion each as of Aug. 8. That doesn’t include potential billion-dollar events still being assessed – such as the extensive flooding in Vermont and New Hampshire in July and ongoing drought conditions in the Midwest. And more-recent disasters such as Hurricane Hilary in California and the disastrous Maui fire in Hawaii have not yet been considered.
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Daniel Munch
Daniel Munch is an associate economist with the American Farm Bureau Federation’s Market Intel. Visit www.fb.org/market-intel for more information.





