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High corn prices to trickle down to meats, milk and cheese

Posted on June 23, 2008

Midwest floods have engulfed at least 2 million acres of corn and soybean fields in Iowa, Indiana, Illinois and other key growing states, according to media sources. The trickle down effect could see rampant price inflation in beef, pork, poultry, eggs, cheese and milk as livestock owners go out of business due to high corn-based animal feed. On CBOT, July corn futures lost 12.25 cents to trade at $7.09 a bushel on Monday but were up nearly 20% in just two weeks prior. Read RI s recent coverage concerning the impact of the floods on the corn market....

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cbot , futures