A Strange Twist Is About to Hit the AI Market That Almost Nobody Sees Coming...

If you have any money in AI stocks right now, or if you're even thinking about it, you need to see what's going on. The truth is, the moves we've seen in tech and AI stocks over the last couple of months could be the start of something much bigger. That's why I've put together this special presentation with Wall Street legend, Charles Mizrahi.

Florida agriculture hit with $190M losses from Hurricane Milton

CURT ANDERSON
December 20, 2024

ST. PETERSBURG, Fla. (AP) -- Florida agriculture suffered more than $190 million in losses from Hurricane Milton, making it the costliest for farmers and ranchers of three cyclones that pummeled the state in 2024, according to University of Florida researchers.

When all the data is in, the university's Institute of Food and Agricultural Sciences (IFAS) estimates the losses from Milton could reach over $642 million. That compares with farm-related damages of $170 million from Hurricane Debby in August and up to $162 million caused by Hurricane Helene in September.

Milton came ashore Oct. 9 near Siesta Key on the Gulf coast as a Category 3 storm, sweeping across the central part of the state with hurricane-force winds striking 14 counties. The storm impacted more than 5.7 million acres (2.3 million hectares) of agricultural land, much of it used for cattle and other livestock grazing.

Total production value on that land annually is pegged at about $8.6 billion, according to the report.

"Milton resulted in higher agricultural losses than Hurricane Helene, not only because it caused more intense weather conditions overall, but also because areas producing high-value commodities experienced higher-intensity weather conditions," said Xiaohui Qiao, an IFAS research assistant professor.

Helene, which came ashore Sept. 27 along the Big Bend region of Florida, impacted about 6 million acres (2.4 million hectares) of agricultural lands, the report said.

The Milton report is broken down into low and high estimates of loss. For example, researchers say losses to vegetable crops range between $52.5 million and $233 million. Greenhouse and nursery costs are estimated at between $66.9 million and $177 million.

The dominant livestock operations in the region had estimated losses of between $29.4 million and $86.5 million, the researchers said. That includes sickened and dead animals but also such things as damaged fencing and structures and loss of feed.

There also were delays in planting crops crucial to Florida's winter growing season.

"Some growers have delayed winter crop planting due to Helene and Milton, disrupting the production schedule and potentially affecting the value of future harvests," the report says.

The loss estimates are based on a survey of agriculture producers around the state. A final report on Milton's impact is expected in the first quarter of 2025 and will include additional survey results.

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