The Texas panhandle wildfires earlier this year were the costliest on record, causing an estimated $123 million in agricultural losses, a report has found.

The estimates in cost were detailed in a report by economists at the Texas A&M AgriLife Extension Service and may yet continue to grow, a report from the service said.

The Texas Panhandle fires burned through more than 1.2 million acres over the course of around three weeks, from February 26 to the middle of March. The wildfire was quite devastating to the surrounding land, which is home to many ranches and farms integral to providing dairy, beef, corn and more to the rest of the state.

The costs take into account the estimated 12,000 cattle deaths as well as infrastructure repair across the ranches.

A picture shows the remains of a deer across damaged land due to the Smokehouse Creek fire on March 5, 2024, near Canadian, Texas. Estimated losses from the fire have reached $123 million, a new... A picture shows the remains of a deer across damaged land due to the Smokehouse Creek fire on March 5, 2024, near Canadian, Texas. Estimated losses from the fire have reached $123 million, a new report says. Scott Olson / Staff

"AgriLife Extension continues to be committed in providing resources needed for landowners, livestock producers and individuals impacted from this historic wildfire," Rick Avery, AgriLife Extension director said in a statement.

"The recovery process will be ongoing and AgriLife Extension agents and specialists will continue to provide support. We appreciate the ongoing efforts of our dedicated agent network and industry partners."

Loss estimates relating to cattle deaths caused by the wildfiresstand $27 million, the economists report, as well as another $1 million to cover other costs relating to the deaths such as disposal, the report said. This one hits the region hard, as the price of cattle is continuing to rise.

Estimates for the loss of infrastructure is standing at $68.7 million, while grazing lands damaged are costing $26 million.

"These loss estimates are likely to continue to grow as more details emerge as the wildfire risks remain high this spring," David Anderson, AgriLife Extension livestock marketing economist at Bryan-College Station said in a statement.

"What we will see is a significant increase in replacement costs for fencing due to the increase in materials cost," DeDe Jones, AgriLife Extension risk management specialist in Amarillo, continued. "Fence rebuilding costs are in the range of $3 per foot to $4 per foot, depending on the type of fencing and the type of country."

A stock photo shows a fire at a ranch. The Panhandle fires destroyed a huge area of farmland and ranches in the area. A stock photo shows a fire at a ranch. The Panhandle fires destroyed a huge area of farmland and ranches in the area. Karson Sorenson/Getty

Efforts to help those affected by the fires are still ongoing, with AgriLife Extension agents from the Disaster Assessment and Recovery (DAR) unit, still supplying resources to affected farmers, according to the report.

Hundreds of bales of hay, livestock feed and field assessments are being carried out by the DAR, its program director, Monty Dozier said in the summary.

"Our agents have been working tirelessly to make sure needs are fulfilled. We also want to thank those throughout Texas and out of state who have donated. Their support has been overwhelming," Dozier said.

The state of Texas is no stranger to wildfires, but it seems conditions are becoming more ideal for them to spread as drought continues in the state. A lack of precipitation causes a lack of moisture in plants and soil, meaning if a fire starts, it is more able to spread at a very fast rate.

Investigations found that a fallen decayed utility pole was the cause of the fire in Smokehouse Creek, which is where the largest of the flames were reported.

Do you have a tip on a science story that Newsweek should be covering? Do you have a question about wildfires? Let us know via science@newsweek.com.

Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.