Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

7/16/2012 (2 years ago)

Catholic Online (www.catholic.org)

Food prices to go skyward with parched crop failures

The next time you're in the supermarket, you could be in for some serious sticker shock - food prices are sure to climb as farmers in the Midwest are fighting through the worst drought in 25 years. The drought has already negatively impacted supplies of corn and soybeans.

The arid weather is expected to hurt corn crops which will in turn impact retail prices in the weeks ahead. The full impact of the drought won't be felt until early August or September.

The arid weather is expected to hurt corn crops which will in turn impact retail prices in the weeks ahead. The full impact of the drought won't be felt until early August or September.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

7/16/2012 (2 years ago)

Published in Home & Food

Keywords: Drought, Midwest, farms, market prices, meat, milk


LOS ANGELES, CA (Catholic Online) - Furthermore, the summertime drought will impact everything from milk to meat. It's all contingent on the weather in the coming weeks, and if Mother Nature decides to gift farmers with some rainfall in the coming months.

"We're at the cusp of seeing how severely this is going to impact consumer prices," Darrel Good, professor emeritus of agricultural and consumer economics at the University of Illinois at Urbana-Champaign says.

The current drought and high heat has "already done permanent damage to the crops, but our concern is the outlook for the weather is not very good and we're expecting a further deterioration.

"Prices will go up ever higher and have more severe and long-lasting impacts."

However, it must be noted that prices in the next few weeks for certain products may end up being major deals due to the drought.

Prices for beef and pork are expected to drop in the next few months as farmers slaughter herds to deal with the high cost of grains that are used as livestock feed. Shawn Hackett of the agricultural commodities firm Hackett Financial Advisors says that everything from milk to salad dressing is going to cost more in the near term, and eventually the meat deals will evaporate as demand outstrips supply.

The arid weather is expected to hurt corn crops which will in turn impact retail prices in the weeks ahead. The full impact of the drought won't be felt until early August or September, said

"We don't yet know what's going to happen and we don't yet know how severe the drought will be and the amount we end up getting at the end of the corn harvest," Richard Volpe, research economist for the Economic Research Service of the U.S. Department of Agriculture says.

Volpe wouldn't provide specific projections based on conditions now, but he did say price increases for milk, that were expected to be flat or decline this year, could head up "if there's a major jump in feed prices."

"There's been enough damage that we know we're not going to have a record crop in field corn. Now the question is, how far below the record crop is this going to fall? What happens in next two weeks will drive what happens to corn and that will have an affect on all food prices."

.

---


Pope Francis: end world hunger through 'Prayer and Action'


© 2014 - Distributed by THE NEWS CONSORTIUM

Pope Francis Prayer Intentions for December 2014
Christmas, hope for humanity:
That the birth of the Redeemer may bring peace and hope to all people of good will.
Parents: That parents may be true evangelizers, passing on to their children the precious gift of faith.



Comments


More Home & Food

Get your oven mitts ready, it's time to bake Christmas cookies! Watch

Image of A Christmas isn't complete without Christmas cookies on the table.

By Abigail James (NEWS CONSORTIUM)

Logs are burning in the fireplace and a sweet holiday tune escapes from the stereo. Christmas is here and it's time to break out those eggs and start the baking. LOS ANGELES, CA (Catholic Online) - Whether you're a solo baker or have enlisted the help from the younger ... continue reading


What you've always thought about high blood pressure may be wrong! Sugars have more impact on your heart than previously presumed Watch

Image of

By Abigail James (NEWS CONSORTIUM)

Lowering high blood pressure and preventing heart disease is vital; heart disease is the number one cause of premature death in the developed world. LOS ANGELES, CA (Catholic Online) - Studies show high blood pressure is heart disease's most important risk factor, ... continue reading


Delicious, but not nutritious -- you may want to give up Chicken McNuggets after reading this Watch

Image of What exactly goes into those great tasting - but highly suspect Chicken McNuggets by McDonalds? The world wants to know as many suspect - it isn't chicken!

By Troy Dredge, Catholic Online

What exactly goes into those great tasting - but highly suspect Chicken McNuggets by McDonalds? The world wants to know as many suspect - it isn't chicken! In response, the fast-food monarch has released a new video detailing the process - which is not very ... continue reading


Do you take aspirin everyday? Uh-oh, you'd better read this! Watch

Image of An aspirin a day can pose more risks than benefits for women under 65.

By Catholic Online (NEWS CONSORTIUM)

Does an aspirin a day keep women's heart attacks away, or does it merely bring along more risking medical problems? According to Healthday News, researchers found that, in women younger than 65, taking a low dosage of aspirin over years did reduce the risks of heart ... continue reading


This Thanksgiving, an average person can consume as much fat as three sticks of butter Watch

Image of It turns out that the real culprit isn't necessarily the Thanksgiving meal. It's the second helpings and embellishments that send calories skyrocketing.

By Catholic Online (NEWS CONSORTIUM)

The holidays are upon us - and eating right traditionally goes out the window. Dieticians estimate that the average person gobbles up the fat equivalent of three sticks of butter with every Thanksgiving and Christmas meal. The added pounds we put on during the ... continue reading


Magical grain: Barley enabled Tibetans to live at high altitudes Watch

Image of The discovery of barley probably wouldn't have been enough to sustain early Tibetans at such high altitudes.

By Catholic Online (NEWS CONSORTIUM)

Remember your mother telling you to eat your oatmeal, rice and wheat so that I would "stick to your ribs" and build a healthy body? There appears to be an element of truth in that. Scientists say that ancient Tibetans were able to live at high elevations levels ... continue reading


What could be worse than the end of the world? How about a world without chocolate Watch

Image of The available amount of chocolate globally continues to shrink as people continue to consume more cocoa than is produced, driving up price and decreasing flavor.

By Catholic Online (NEWS CONSORTIUM)

Some of the world's largest makers of chocolate, Mars, Inc. and Barry Callebaut are warning that an era without chocolate is rapidly approaching the world. LOS ANGELES, CA (Catholic Online) - Already the world population is out consuming what little cocoa farmers ... continue reading


Americans thinking healthy, and Coca-Cola and McDonald's suffer as a result Watch

Image of Americans have fallen out of love with high-sugar, high-calorie fizzy drinks and are seeking healthier alternatives instead.

By Catholic Online (NEWS CONSORTIUM)

It's fast and inexpensive and not good for you - and since Americans are becoming more health conscious, or desire higher quality fare, such junk food staples such as McDonald's and Coca-Cola are feeling the pinch. As iconic American as both companies are, more ... continue reading


McDonald's reveals that 'pink slime' is no longer used in their food on TV tour Watch

Image of Various rumors that have swirled around their food, even long before the Internet age, such as the claim that their hamburgers never decomposed. McDonald's is now tackling those rumors head on.

By Catholic Online (NEWS CONSORTIUM)

McDonald's, the world's preeminent producer of processed fast food welcomed a crew from TV's "Good Morning America" into their California plant. It was all part of an "Our Food, Your Questions" series to dispel some of the rumors surrounding that a former ... continue reading


Taste challenge: Are these America's best burgers? Watch

Image of Zagat has released a survey of the best burgers in the United States.

By Catholic Online (NEWS CONSORTIUM)

Zagat has released a survey of the best burgers in the United States. Sure to inspire controversy and more than a little debate - all of it involving delicious seared beef patties and freshly cooked buns, the winners range from fast food winners In-N-Out ... continue reading


All Home & Food News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Daily Readings

Reading 1, Judges 13:2-7, 24-25
2 There was a man of Zorah of the tribe of Dan, ... Read More

Psalm, Psalms 71:3-4, 5-6, 16-17
3 Be a sheltering rock for me, always accessible; you ... Read More

Gospel, Luke 1:5-25
5 In the days of King Herod of Judaea there lived a ... Read More

Saint of the Day

Saint of the Day for December 19th, 2014 Image

St. Nemesius
December 19: Martyr of Egypt. He was burned alive in Alexandria, Egypt, ... Read More

Inform, Inspire & Ignite Logo

Find Catholic Online on Facebook and get updates right in your live feed.

Become a fan of Catholic Online on Facebook


Follow Catholic Online on Twitter and get News and Product updates.

Follow us on Twitter