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Food price increases resulting from the Midwest drought that ravaged crops might not be as steep...

Food price increases resulting from the Midwest drought that ravaged crops might not be as steep as some expect, according to some analysis. Fruit and vegetables crops are relatively stable due to irrigation, while corn ingredients typically only make up a a small portion of many common packaged food items. For the time being beef and milk prices could actually dip as farmers sell off cattle that they can't feed effectively, though next year consumers could take the hit when the dwindling number of cattle directly affects beef and dairy prices.
Comments (7)
  • Do these analysts shop for groceries or they only eat at Mortons and fancy Manhattan joints. Ask those who have to feed their families every day. Food prices have gone up and have been going up steadily, in fact ever since the Fed started QE3 and continued quantitative easing. Who are they kidding? that there is no inflation or that inflation is transient. Wake up Wall Street analysts and your friends in Washington and the Fed who stand to collect nice pensions when they retire (so no need to worry), look around you and stop living in your ivory tower. Poverty is on the rise in America, thanks to the policies of the FOMC and there is no debate about it.
    1 Aug 2012, 01:53 PM Reply Like
  • I want to know where he got the info on saying corn is not used that much. He obviously doesn't read labels because corn is in everything.
    1 Aug 2012, 02:06 PM Reply Like
  • Again, this is what the writer stated

     

    "while corn ingredients typically only make up a a small portion of many common packaged food items."

     

    He is not saying that "corn is not used that much"!!! I think that he is trying to say that not everything you eat has enough corn to be adversely affected by poor corn crop yield this dry season.

     

    Corn has also industrial uses such filler for plastic, packaging material, chemicals, paint, etc..
    9 Aug 2012, 07:50 AM Reply Like
  • once manufacturers increase prices or more deceptively, make their packaging and contents smaller, they do not reduce prices when commodities or raw materials fall

     

    have you seen SBUX ever reduce prices? GIS, K - etc all continue to increase prices
    meat is through the roof - saw small packages of filet mignon the other day $30+
    1 Aug 2012, 02:08 PM Reply Like
  • smaller packaging..Raisins were just caught at that..less raisins in one of those little boxes...cereal in a big way....but this guy has been told that grains only make up for 3% of the price of cereal..so he extrapolates that....and his comment on cheap beef this year cause the farmers are culling the herd...but next year it will triple...lol
    1 Aug 2012, 02:12 PM Reply Like
  • Our small town started a community garden last year with 12 raised beds (4 x 10 feet). I was fortunate to be one of the charter growers. The amount of fresh produce my wife and I are harvesting from that plus another small garden plot we have has made a measurable difference in our food bill. If you have the space and inclination, a garden can be rewarding in more ways than just financially. If you lack space, consider supporting a farmers market. Better yet, locate a friend or neighbor who has space and offer to garden it for a split of the produce. I did this several years ago and made new friends in the process. It is possible to take control of a portion of your food supply with a little effort. Many resources are available online to help you get started. You could start with YouTube and do a search on "vegetable gardens". Gardens pay dividends (non-taxable at that!).
    3 Aug 2012, 08:37 PM Reply Like
  • Todays crop numbers will make cost skyrocket again.....
    10 Aug 2012, 08:44 AM Reply Like
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