The Economic Impact of Midwest Flooding

I also noticed the price of cooking oil being way up the last time I was at the store. I never bought the more expensive types of oil - olive, canola, etc. - but now that corn and vegetable oil prices have reached the same level, I just as well buy the healthier stuff! We have been able to buy fuel that is part ethanol for less, but with the corn crop failures, I am sure that there will be a shortage not only for human consumption, but also for ethanol production. Undoubtedly, this will push up the price of that fuel as well. We live and work on a cattle ranch, and use corn gluten - a byproduct of ethanol production - as part of the feed for the cattle. In many other areas, livestock producers use byproducts of wheat, peanuts, soybeans, and even sugar beets as feed sources. In doing this instead of feeding whole grains, we are reducing our cost to produce the animal as well as making less of an impact on the supplies of grain needed for human consumption. In addition to the crops in the field that have been destroyed or have not even been planted at this time, some grain storage facilities have also been flooded which may destroy some of last year's crop still in storage. I think for those who haven't already, it's probably a good time to start tightening your belt where your finances are concerned as I don't think the price of anything is going to be going down!

We have done the belt tightening since the price of gas hit $3 a gallon and we both drive SUV's. I don't see any relief for Americans coming any time soon and I keep telling my husband (who always sees the positive in everything) that we are heading straight to a depression and he laughs at me. I have started stocking up on items when on sale and I have coupons and he laughs so much. We could go eight months with out buying anything other than meat. I am planning on emailing this dicussion to him to see that I am not the only one that believes product costs are on the raise. LOL

Thanks for the best response