The summer of 2012 left the nation with extreme shortages of rainfall. As the winter months set in, we will feel the impact of the shortage of crops through a rise in prices.
According to an article in Hay and Forage Grower, premium alpha hay in Iowa has reached around $220 per ton. In other parts of the country, hay prices have almost doubled from last November.
The summer’s minimal rainfall left cattle pastures and hay grounds very dry, which provided less production than normal. It would be a wise decision for people to buy hay for their livestock early before it becomes scarce to find.
On the other hand, the food in grocery stores won’t be hard to find, but the products that use corn or soybeans in their ingredients may discover an overwhelming spike in price. In the Canadian Press recently, a report stated, “A rule of thumb is that food prices typically climb about 1 percent for every 50-cent increase in average corn prices.”
Who has the extra money to pay these prices? I sure don’t! Next spring I’ll be tilling up part of my yard to grow my own produce to save some green.
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