With grazing land diminishing and
feed prices soaring, the cattle industry is reeling.
Not exact matches
Bernanke, the widely criticized chairman of the Federal Reserve, shot back Sunday evening at the inflation hawks who claim quantitative easing — the
Fed's plan to buy $ 600 billion of Treasury debt over eight months, in hopes of boosting asset
prices and nudging a sluggish economy forward — will send inflation
soaring and destroy the dollar.
Firmer consumer
prices at both the headline and core level, buoyant manufacturing output and upbeat regional
Fed manufacturing surveys — particularly the Philadelphia
Fed's manufacturing index — which
soared to a 33 - year high — added to investor optimism.
Pig farmers claim they are losing more than # 20 on each pig raised to slaughter, blamed on the
soaring price of
feed and the cost of meeting ethical obligations.
In bonds,
prices weakened and long - term yields rose significantly following the
Fed move, while the dollar plunged and precious metals
prices soared.
Naysayers also claim that turning over farmland to energy crops will crowd out conventional crops, sending the
price of food and animal
feed soaring.
However,
soaring corn
prices mean beef, pork, poultry, egg and fish producers pay more for corn - based
feed; grocery manufacturers pay more for corn, meat, fish and corn syrup; families pay more for everything on their dinner table; and starving Africans go hungry because aid agencies can not buy as much food.