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The request for federal public assistance covers 11 counties in southern Arkansas and two in the northern part of the state.
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The National Weather Service says Little Rock could see as much as a half-inch of ice accumulation by Wednesday morning.
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The 2022 rice season in Arkansas was "erratic" according to one agribusiness expert.
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The projection from AAA for the period between Friday and Jan. 2 comes as Arkansas is experiencing the lowest prices since May 2021.
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Arkansas is forecast to experience dangerously cold temperatures, with lows Friday morning below zero to the single digits.
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Much of Arkansas has burn bans in place, and with no rain in the forecast, gusty winds and low relative humidity, officials say the threat of wildfires is growing.
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About 75% of hay and other pasture fields in Arkansas are deemed in poor or very poor condition, according to a USDA report.
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While the state had been in a severe drought for much of the summer, rain in recent weeks has changed conditions drastically and came at a critical time for many farmers.
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The National Weather Service says central Arkansas could see up to two inches of rain over the weekend.
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As of Friday, burn bans were in effect in 55 of the state’s 75 counties. With very little rain forecast, conditions are expected to worsen.