LSU AgCenter’s Preliminary Estimate Sets Hurricane Laura Losses at $1.6 billion

According to preliminary estimates from the LSU AgCenter, Hurricane Laura caused about $1.6 billion in losses to Louisiana’s agriculture and forestry industries. That is more than Hurricanes Katrina and Rita combined. AgCenter breaks it down to about $525.4 million in damage and losses to Louisiana farmers and $1.1 billion in damages and losses to the Louisiana timber industry. The timber industry losses include both national forest and privately owned land. Kurt Guidry, an economist for the AgCenter said, “Based on the amount of infrastructure damage that occurred and the losses associated with timber, the total economic impact to the food and fiber sector from Hurricane Laura will be as large as or larger than any storm that I have developed estimates for since my time with the AgCenter.”