Wed, Jul 18, 2012
Catchy title today. Not only is it in the headlines in our local news but it’s made national news as well. The Ag Secretary is praying for rain. According to reports less than 40% of corn crops are considered great. About the same % is considered poor or very poor. That’s not a good outlook for corn. Because of the drought food prices are expected to be going up – especially corn and meat.
What does this mean to you? Initially meat prices may fall. Why? Because of the shortage of corn many ranchers will kill off some of their stock. (sort of why I sold some of my sheep) It will cost too much to feed their stock and they know it. So initially there may be a glut in the market for things like beef and pork. If there is and you eat it, then you should buy it. Learn to can and put it up.
But food prices are going to continue to rise like they have over the past couple years. I read somewhere that food only went up one or two percent last year. If that’s the case I wonder what those people were buying. Most food items have jumped significantly. The following website has been tracking what he calls his grocery list for a year’s worth of food for an adult. http://www.grandpappy.info/hfood1yr.htm In the past 4 years food on his list has gone up 32%! That’s almost 1/3 more. But you know that already.
If you put $ 100 in the bank today and planned on buying food with that money in one year you will have $ 101 to spend. Do you really think the food today will only cost $ 1 more? The basics are going to rise. Cereals are going to rise. Everything is going to rise. Every extra penny you have should be going into food storage. What better way than this to make 10% or maybe even more on your money?
On a side note, for those who raise chickens and other animals, not only is the scratch and lay pellets going to go up but so is hay. Why? Because if the animal feed gets too high it will be supplemented with hay. So stock up here too if you use any animal feed or hay. I still have two dozen chickens in the chicken coop but all the chickens we are hatching in the incubator will end up in the front pasture. Right now we have a dozen out front. There’s almost an acre for them to search for food. I probably won’t have to feed them at all if I don’t want to. That’s the best way to raise livestock and poultry.
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