Prepare For Food Shortages–Worse Drought Since 1956: Get Ready For Massive US Food Disaster And Skyrocketing Meat, Grain And Bread Prices
by Monica Davis
Tue Jul 17 2012
Drought Will Increase Meat, Grain And Bread Prices
It’s official. We’re in the worse drought in 3 generations. Experts say the nation hasn’t experienced a drought this bad since 1956.
Corn is burning up. Fields have become vast acres of parched soil. Wildfires are out of control.
And food prices are about to hit the ceiling.
Weeks of 100 plus degree heat have parched Midwest fields, and continue to make fire conditions high risk in the naton’s forests. Urban areas nn the line of fire include:
Cattle and hog producers face a double whammy: dangerously hot weather, near record future feed prices that will go through the roof. This, in turn, will generate a massive increase in pork and beef prices down the road, because producers will pay massive price increases for feed, and weather conditions will generate short trm sell offs which will fuel long term been and pork shortages.
In a recent meeting in Iowa, pork producers say that while media attention is focused on crop producers, the situation is even more dire for pork and beef producers.
They predicted a ripple effect throughout the state as smaller-than-expected harvests cause prices to spike and create a shortage of grain products that feed livestock. Pork and beef producers will be hit particularly hard because they lack an equivalent to the crop insurance that helps protect most corn and soybean farmers, they said. READMORE HERE www.businessweek.com/ap/2012-07-17/iowa-corn-pork-producers-warn-of-droughts-impact
Corn and soybean futures are trading at record highs. “The worsening drought caused Chicago Board of Trade spot corn futures prices to soar nearly 45 percent in only six weeks with the price on Friday coming within a few cents of the record high of $7.99-3/4 per bushel hit 13 months ago.”