Rising Corn Prices Sending Beef Prices Soaring
By: Megan Hunter
Updated: July 16, 2012
Local cattle farmers get the majority of their feed from the Midwest; a region hit the hardest by the dry weather.
Since farmers are paying top dollar for corn to feed their cows, they say that could soon trickle down to the rest of us.
"The price will be higher," said Brandon Dillard, who works at the Alabama Cooperative Extension Service. "There will be a deficit of corn, so we definitely could see some implications from the shortage there."
Emmanuel McGhee agrees. He said, "it does mean the price will go up for corn and therefore for cattle. Either that or the cattlemen will have to take less money for the cow."
Monday, the price of corn rose to over $7.48 a bushel, the highest price it's been since September.
