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Longer Drought Would Pressure Food Prices

The continuation of the drought cause corn prices to rise as far as eight dollars per bushel this year, pushing food prices up with it. Iowa State Savings Bank Ag Bankers Leslie Miller and John Jensen tell KNIA/KRLS News that food prices will stay pretty stable despite this past year’s short crop, but another one will definitely be felt in the market. Right now, they say pork numbers continue to be steady and though beef numbers are lower, producers are putting extra pounds on them. Jensen says we’ll get an indication of how this year could go in March. Arkansas weather in March, he explains, is usually similar to Iowa weather in May.