Conditions are drying around much of Texas, and forecasts are calling for a dry warm winter. Texas A&M Ag Economist Dr. David Anderson says a drought would raise some prices. "I think more about livestock. A severe drought like we had a just a decade ago forced us to move out cows. We ended up with much higher beef prices." Dr. Anderson says although it's too early to call the drought, pricier baked goods and even clothing could be coming next year. "Many of the crops that we grow here: cotton, wheat corn (we feed corn to a lot of our livestock) we won't know the outcome of that harvest until June and July."
Price of the Texas State Nut Might Drop
Dr. Anderson continues, "While drought MAY develop - it's still early. We have time to get rainfall to set us up better for the spring. I think for food - particularly - are longer term effects." He says only the West Central, Coastal and Central parts of the state are experiencing low precipitation now -but high fertilizer prices and pesticide shortages despite could increase grocery store prices next year.
We'll check back next year!
photo:GettyImages
Drought could cause beef feed to rise in price.Photo: Getty Images