
An ag policy analyst says it’s only a matter of time before drought forces food prices to go up. Pat Westhoff of the University of Missouri says market prices for corn and soybeans have reached record levels, and retail prices for meat will follow.
Westhoff says products made directly from commodities will rise first, even though the market price received by producers is only a small part of the retail price. He says consumer prices for chicken, pork, and beef will start going up later this summer.