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Ag Economist Concern About Next Year

Ag Economist Concerned About Next Year

(Ames) -- Although grain prices are spiking as a result of the drought, a retired agricultural economist believes this year's drought may have additional consequences into next year.  Robert Wisner with Iowa State University says that South America also suffered a drought this past growing season, and he says along with the U-S drought, farmers in both regions will be tempted to plant every available acre next year, which may cause a steep decline in commodity prices.
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Wisner says as a result of the drought, consumers will begin seeing higher prices at the supermarket; first with milk, then with poultry, and finally with red meat products like beef and pork.
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Wisner says in the short-term, there may be bargains with poultry and red-meat products as farmers flood the market selling their stock, but in the long-term, meat may be in short supply.

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