Rising Crop Prices Come with Risk of Grocery Scams

6 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
JEFFERSON CITY - SSM Health and MU Health Care will host the last of three scheduled public forums Monday night... More >>
5 minutes ago Monday, December 17 2018 Dec 17, 2018 Monday, December 17, 2018 3:10:00 AM CST December 17, 2018 in News
SPRINGFIELD (AP) — A 57-year-old southwestern Missouri man has pleaded guilty in federal court to a $2.4 million wire fraud... More >>
5 hours ago Sunday, December 16 2018 Dec 16, 2018 Sunday, December 16, 2018 9:48:54 PM CST December 16, 2018 in News
COLUMBIA - The University of Missouri sent out an MU Alert just before 6 p.m. Sunday to warn people about... More >>
8 hours ago Sunday, December 16 2018 Dec 16, 2018 Sunday, December 16, 2018 6:45:00 PM CST December 16, 2018 in News
COLUMBIA- From model trains to decorated window panes, there was fun for all ages at the Boone County History and... More >>
9 hours ago Sunday, December 16 2018 Dec 16, 2018 Sunday, December 16, 2018 6:12:00 PM CST December 16, 2018 in News
COLUMBIA – After a life-threatening accident 17 years ago, a Columbia man is proving you never have to give up... More >>
14 hours ago Sunday, December 16 2018 Dec 16, 2018 Sunday, December 16, 2018 12:46:00 PM CST December 16, 2018 in Sports
COLUMBIA - A University of Missouri assistant football coach was arrested Saturday on a warrant from Miller County after failing... More >>
17 hours ago Sunday, December 16 2018 Dec 16, 2018 Sunday, December 16, 2018 10:12:00 AM CST December 16, 2018 in Sports
FULTON - Two people were arrested on various drug charges Sunday morning. According to a release, Police stopped a... More >>
20 hours ago Sunday, December 16 2018 Dec 16, 2018 Sunday, December 16, 2018 7:08:00 AM CST December 16, 2018 in News
COLUMBIA - The Missouri Symphony will play holiday music Sunday for the Symphony of Toys concert. Students in the Missouri... More >>
1 day ago Saturday, December 15 2018 Dec 15, 2018 Saturday, December 15, 2018 9:45:00 PM CST December 15, 2018 in News
COLUMBIA - People gathered at Hickman High School on Saturday to celebrate holidays from several cultures. KOPN Community Radio... More >>
1 day ago Saturday, December 15 2018 Dec 15, 2018 Saturday, December 15, 2018 9:10:00 PM CST December 15, 2018 in News
COLUMBIA - Columbia College had a special moment during the graduation ceremony Saturday to honor a student who died in... More >>
1 day ago Saturday, December 15 2018 Dec 15, 2018 Saturday, December 15, 2018 8:15:00 PM CST December 15, 2018 in News
JEFFERSON CITY - The Jefferson City Diocese confirmed Saturday three people were added to its list of clergy accused of... More >>
1 day ago Saturday, December 15 2018 Dec 15, 2018 Saturday, December 15, 2018 7:31:00 PM CST December 15, 2018 in News
COLUMBIA - Columbia Police made an arrest in connection to Saturday afternoon's shooting in the 3800 block of Aspen Heights... More >>
1 day ago Saturday, December 15 2018 Dec 15, 2018 Saturday, December 15, 2018 4:40:00 PM CST December 15, 2018 in News
JEFFERSON CITY, Mo. (AP) — The Missouri State Capitol has recently completed an effort to restore and conserve the building's... More >>
1 day ago Saturday, December 15 2018 Dec 15, 2018 Saturday, December 15, 2018 3:26:00 PM CST December 15, 2018 in News
BOONVILLE - Anyone walking around Boonville might be able to play a game of "I spy" now that painted rocks... More >>
1 day ago Saturday, December 15 2018 Dec 15, 2018 Saturday, December 15, 2018 10:50:00 AM CST December 15, 2018 in News
COLUMBIA- High school football teams from around the state will travel to Memorial Stadium for the next five years to... More >>
1 day ago Saturday, December 15 2018 Dec 15, 2018 Saturday, December 15, 2018 9:41:00 AM CST December 15, 2018 in Sports
WASHINGTON (AP) — President Donald Trump says Interior Secretary Ryan Zinke , who's facing federal investigations into his travel, political... More >>
1 day ago Saturday, December 15 2018 Dec 15, 2018 Saturday, December 15, 2018 8:53:00 AM CST December 15, 2018 in News
ASHLAND - The Southern Boone Area YMCA will build a new 15,714 square-foot facility in the next two years, if... More >>
1 day ago Saturday, December 15 2018 Dec 15, 2018 Saturday, December 15, 2018 7:48:00 AM CST December 15, 2018 in News
ALTON, Ill. (AP) — Authorities are looking for a man who is suspected of fleeing to Missouri after officers shot... More >>
1 day ago Saturday, December 15 2018 Dec 15, 2018 Saturday, December 15, 2018 7:12:00 AM CST December 15, 2018 in News
Columbia, MO
Broken Clouds 32°
4am 29°
5am 28°
6am 28°
7am 28°