Rising Crop Prices Come with Risk of Grocery Scams

5 years 4 months 1 week ago Saturday, August 04 2012 Aug 4, 2012 Saturday, August 04, 2012 8:37:00 PM CDT August 04, 2012 in News
By: Martin Sutovsky
loading

COLUMBIA - It is no surprise that farmers have been hit harder than just about anybody else during this year's drought. The heat has dried up ponds and destroyed crop yields. Some farmers have even had to start selling off cattle because they either can't provide enough water or can't keep up with rising feed prices. All of that will mean higher grocery bills, and a hit to consumers' wallets...eventually.

In the short term food prices at grocery stores and farmer's markets have not drastically increased, and probably won't until close to the end of the year, even if crop prices go up.

Said Director at the Farmer and Agriculture Policy Research Institute Pat Westhoff, "Even if the price of corn, the price of soybeans goes up very dramatically, the net effect on what people will pay at the grocery store for food is going to be relatively small proportionally."

Farmers like Mark Mahnken, owner of Missouri Legacy Beef, have had to cope with the effects of the drought on their livestock. Mahnken has been lucky however. His Salisbury based operation has had more rainfall than other parts of the state and he hasn't had to sell off members of his herd or raise his beef prices. But not all farmers were as fortunate.

Said Mahnken, "There are certain counties in the state of Missouri that are definitely devastated, and as a result many of our cattlemen are having to liquidate their cow-herds."

Since many farmers are selling off cattle, that will create a surplus of beef on the market, which means lower prices for consumers, at least temporarily.

"We could see beef prices stabilize, if not drop here in the next...four...five...six months...", said Mahnken.

However that means there will be a shortage once 2013 comes, and a possible increase in beef prices, especially in speciality beef. For most foods, prices won't increase until late 2012 or even into 2013. For consumers right now the danger is that some stores may increase prices anyways, and claim it's because of the drought. 

According to Westhoff,  "What people pay for food at the grocery store, only a small share of that goes back to the farmer."

If you see a store drastically increase prices, be wary, it may just be trying to squeeze extra money out of you. Earlier this week Agriculture Secretary Tom Vilsack warned consumers about stores trying to take advantage of the drought. Expect prices to increase, but not until later in the year, and be on the lookout until then.

More News

Grid
List
AUDRAIN COUNTY - The man who was found on Audrain Road 913 Tuesday next to a crashed car died of... More >>
7 minutes ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 8:32:00 PM CST December 13, 2017 in News
MOBERLY - Missouri law enforcement is impeded by a number of issues in cases involving child sexual abuse. Alleged... More >>
19 minutes ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 8:20:00 PM CST December 13, 2017 in Target 8
COLUMBIA - The Columbia Chamber of Commerce hosted the ninth and final public hearing by the 21st Century Missouri Transportation... More >>
1 hour ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 7:12:00 PM CST December 13, 2017 in News
COLUMBIA - The Federal Communications Commission vote to repeal net neutrality is fast approaching. The vote to remove regulations that... More >>
1 hour ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 7:12:00 PM CST December 13, 2017 in News
JEFFERSON CITY - The Justice Reinvestment Task Force approved all of the recommendations from the Council of State Governments Justice... More >>
1 hour ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 6:53:00 PM CST December 13, 2017 in News
COLUMBIA - As Columbia Regional Airport plans to expand, it got a push from Mayor Brian Treece. Treece called... More >>
2 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 6:37:00 PM CST December 13, 2017 in News
COLUMBIA - Missouri is among the worst states nationwide at preventing its young people from smoking and using tobacco, according... More >>
2 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 6:15:00 PM CST December 13, 2017 in News
JEFFERSON CITY - Missouri American Water is making changes to the aging Jefferson City Treatment Plant with the goal of... More >>
3 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 5:33:00 PM CST December 13, 2017 in News
Update: Police said the investigation into the Monday Old Hawthorne homicide revealed a home invasion and drug use. Investigators... More >>
3 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 5:32:19 PM CST December 13, 2017 in News
JEFFERSON CITY - Many people accused of crimes are languishing in county jails as the Missouri State Public Defender System... More >>
3 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 5:06:00 PM CST December 13, 2017 in Target 8
The Geminid meteor shower begins Wednesday night and viewing conditions may be the best in several years! This annual... More >>
3 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 4:47:00 PM CST December 13, 2017 in News
AUDRAIN COUNTY- A fire burned down a home and a truck on Wednesday while the owner was away in Moberly... More >>
3 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 4:45:00 PM CST December 13, 2017 in News
POPLAR BLUFF (AP) — A city official in the southeast Missouri town of Poplar Bluff faces criminal charges for... More >>
4 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 4:07:00 PM CST December 13, 2017 in News
COLUMBIA - Authorities have given the all clear after investigating a possible explosive device around the Hearnes Center shuttle bus... More >>
4 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 3:53:00 PM CST December 13, 2017 in News
AUGUSTA, Ga. (AP) — A federal grand jury has indicted a Missouri man with making threatening phone calls to... More >>
5 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 3:11:24 PM CST December 13, 2017 in News
KLIEVER - Deputies discovered stolen property in the woods near Kliever, Missouri. Police said they were alerted to the... More >>
7 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 1:39:00 PM CST December 13, 2017 in News
Jefferson City - While the Republican Congress in Washington is working on a plan to overhaul the country's tax system,... More >>
8 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 12:18:00 PM CST December 13, 2017 in News
COLUMBIA – The University of Missouri hit a major fundraising milestone, announcing Wednesday it reached the $1 billion mark. ... More >>
8 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 12:08:00 PM CST December 13, 2017 in News
Columbia, MO
Broken Clouds 45°
9pm 42°
10pm 40°
11pm 37°
12am 35°

Select a station to view its upcoming schedule:

Coming Up Next

8:00p
Golden Globe 75th Anniversary Special
10:00p
KOMU 8 News @ 10
10:35p
The Tonight Show Starring Jimmy Fallon
8:00p
Dynasty
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld

Tonight's Schedule

7:00p
The Wall
8:00p
Golden Globe 75th Anniversary Special
7:00p
Riverdale
8:00p
Dynasty
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld