Posts Tagged ‘Beef prices’
Agricultural Economics
Despite crippling drought, US food prices will rise little as only 15% of each food dollar is attributable to farm products. Thus, even a 100% rise in corn prices would lift the CPI by 1.5%. And if this drought is as bad as 1988, which cost $80 billion, GDP will fall by just 0.50%. In…
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The combination of high agricultural land values, competition for land from corn, soybeans and other crops, severe drought, the high price of feed and surging exports have raised live cattle prices to a record $1.26 per pound. Yet, farmers continue to thin their herds. So much so that the 91 million head of cattle in…
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