Friday, July 6, 2012
This is what Global Warming looks like!
Expect corn prices to reach near $7 a bushel due to reduced harvest. Ethanol will get higher. The other concern, if we exceed our water usage we face a fine. Cattle auctions are jammed with parched critters. Grassland has little carrying capacity now and ranchers are forced to feed hay to cattle in the pasture. A few even have to haul water.
Meat prices will go up, maybe a lot, thats ok, most of us eat to much of it anyway, that could meter us down a few pounds and open up your heart tubes again. Other products will go up a little as corn prices impact food processors, look for soft drinks to go up, thats fine with me too. Wheat is up 25% in the last few days with news of Argentina's wheat crop is at risk, and why, storms and foul weather over broad areas of their farm belt, it's global.