Shoppers lose, agribusiness wins on high grain prices
Processed food makers, meatpackers raise prices, shrink packages while ranchers thin herds to pass high grain, energy prices on to shoppers; 'sticker shock' in meat case predicted. Food service suppliers look to shorten contracts. Stock prices are up for fertilizer maker Mosaic, biotech (GMO) seed creator Monsanto and farm equipment supplier Deere & Co.
The Wall Street Journal. (may require subscription) 2008-08-08
Categories: BUSINESS, Economy
Index: Alpha Baking Co., American Farm Bureau Federation, Brenda C. Barnes, Cheerios, Chris Hurt, Clint Rivers, David A. Schawk, David Mackay, Dean Foods, Farm Sector Economics, General Mills, Hillshire Farm, James Mintert, Joe Jennings, Julie Jargon, Kansas State University, Kellogg, Larry Marcucci, Lazbuddie, Livestock Marketing Information Center, meat prices, Michael Swanson, Nestlé SA, Paul D. Ridder, Paul Prentice, Pilgrim's Pride, Purdue University, Sara Lee Corp., Schawk Inc., Smithfield Foods, Tasty Baking Co., Tom Forsythe, Tyson Foods, U.S. Bureau of Labor Statistics, USDA, Wells Fargo & Co.