The severe droughts that Texas has experienced this summer have led to a significant loss in the agricultural industry, as local farmers and larger companies are struggling to recover some semblance of what the sector once was, The Associated Press reported.
Texas agriculture officials have noted that the heat has cost the state a significant amount of money, and that this number may not be declining at any point soon, as the heat wave may not subside for some time, according to the news source.
"This drought is ongoing," David Anderson, an AgriLife livestock economist, told Bloomberg. "Further losses will continue if rainfall does not come soon to establish this year’s winter-wheat crop and wheat grazing."
Total hits to the sector have already reached record levels, as the state's agricultural industry has reported $5.2 billion in money that was lost due to the drought. This number has already eclipsed the previous record of $4.1 billion, as farmers are struggling in the current heat, according to the news source.
Farmers that are trying to cope with the revenue losses caused by the drought may want to consider investing in used farm equipment.