Drought will hit us all at grocery store - KTIV News 4 Sioux City IA: News, Weather and Sports

Drought will hit us all at grocery store

Posted:
WASHINGTON, D.C. (AP) -

You could soon see food prices soar at your grocery store.   And it's all because scorching temperatures and a widespread drought have damaged corn crops.  The U-S Department of Agriculture says nearly 40 percent of the corn planted across the nation is in poor or very poor condition.

The bad weather, and fears that things could get worse, have forced corn futures to jump 50 percent over the past month -- to nearly eight dollars a bushel.

An Agriculture Department economist says usually, other food prices rise one percent for every 50 percent increase in corn prices.   And experts expect beef, pork and poultry prices to climb the most.  That's because farmers feed mainly corn to their chickens, cattle and pigs.

An executive with the National Cattlemen's Beef Association says prices won't soar overnight, though.   He says consumers will likely see a trickle down effect toward the end of the year.  

Powered by WorldNow
All content © Copyright 2000 - 2013 WorldNow and KTIV Television Inc. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.

Persons with disabilities who need assistance with issues relating to the content of this station's public inspection file should contact Administrative Assistant Kathy Clayton at (712) 239-4100 x209. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, at 888-835-5322 (TTY) or at fccinfo@fcc.gov.