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Severe Drought Seen as Driving Cost of Food Up
Posted By admin On July 26, 2012 @ 2:35 am In Money Watch | Comments Disabled
ANNIE LOWREY and RON NIXON
NY Times 
July 26, 2012
WASHINGTON — Scorching heat and the worst drought in nearly a half-century are threatening to send food prices up, spooking consumers and leading to worries about global food costs.
On Wednesday, the government said it expected the record-breaking weather to drive up the price for groceries next year, including milk, beef, chicken and pork. The drought is now affecting 88 percent of the corn crop, a staple of processed foods and animal feed as well as the nation’s leading farm export.
The government’s forecast, based on a consumer price index for food, estimated that prices would rise 4 to 5 percent for beef next year with slightly lower increases for pork, eggs and dairy products.
The drought comes along with heat. So far, 2012 is the hottest year ever recorded in the United States, according to the National Oceanic and Atmospheric Administration, whose records date to 1895. That has sapped the production of corn, soybeans and other crops, afflicting poultry and livestock in turn.
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URLs in this post:
 NY Times: http://www.nytimes.com/2012/07/26/business/food-prices-to-rise-in-wake-of-severe-drought.html?_r=2&pagewanted=print
 Federal government hoarding meat stocks in response to drought – Food shortages for the rest of us?: http://www.prisonplanet.com/federal-government-hoarding-meat-stocks-in-response-to-drought-food-shortages-for-the-rest-of-us.html
 Federal government hoarding meat stocks in response to drought – Food shortages for the rest of us?: http://www.prisonplanet.com/federal-government-hoarding-meat-stocks-in-response-to-drought-food-shortages-for-the-rest-of-us-2.html
 US corn, soy prices hit records as drought lingers: http://www.prisonplanet.com/us-corn-soy-prices-hit-records-as-drought-lingers.html
 Food inflation to be driven by record-high mass slaughtering of farm animals: http://www.prisonplanet.com/food-inflation-to-be-driven-by-record-high-mass-slaughtering-of-farm-animals.html
 What Happens If Record Heat And Crippling Drought Cause Widespread Crop Failures Throughout The United States?: http://www.prisonplanet.com/what-happens-if-record-heat-and-crippling-drought-cause-widespread-crop-failures-throughout-the-united-states.html
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