Record corn prices raise other food costs

by Jonathan M. Forester, Posted Jun 28th 2008 @ 8:01AM

The floods in the Mid-West are causing a nationwide increase in food prices across the board. Corn and soy prices are increasing dramatically which means other foods that depend upon them are increasing as well. Expect to see many grocery items like meats, cheese, eggs, milk, oil, etc. increase in price.

I spent summers as a child in the corn fields of Iowa, many of which have become lakes, with the gently hills small islands. Now many of these farmers are calling it quits, selling off the farms and getting out of the business. Animals are being sold off, which means a short term meat glut, but a long term shortage. Don't expect prices to go down from the quick influx of meat, because the long term shortage is so visible that prices have to start reacting now.

This is going to have such long term effects that you can expect your Holiday turkeys and hams to cost quite a bit more than last year, and possibly even more the year after that.

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Filed Under: Ingredients
Tags: beef, cheese, corn prices, CornPrices, dairy, eggs, food prices, grains, increase, meat, pork, poultry, shortage