Sometimes, even the experts can’t always predict what’s going to happen. Sabrina Hill explains.
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Experts say sometimes it’s just impossible to predict what’s going to happen in agriculture. 2012 is a good example of that. Agriculture Department Chief Economist Joe Glauber says 2012 was predicted to do much better. But, the nation saw the worst drought since the ‘30’s, driving production of many crops in the nation down, and driving up prices for those crops. That effected dairy, egg and livestock ranchers here in California, as feed costs went through the roof. It was part of the reason for California’s record high number of dairy bankruptcies for 2012. But Glauber says the overall farm economy hung in there.
In fact, Agriculture Food Price Analyst Ricky Volpe says the December consumer price figures should show only a slight inflation. Food shoppers may not be so lucky in 2013, and the forecast for farmers looks to be even more tricky than predicting 2012. Joe Glauber is counting on better weather this year and more production. Glauber says over all it should be a good farming year. But, Ricky Volpe says consumers won’t be so lucky.