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Some 2008 predictions...
Okay, here's what I think will happen this year...
Hay
This year we've gotten sooo much rain in Ontario. I don't know about where you guys live, but here in my area the cut hay is floating in water. My hay guy was supposed to call me June 1 and I haven't heard from him at all. If this weather doesn't improve, horse hay prices will be through the roof.
My dad is out there now baling hay that has been cut for 4 weeks! It's brown thanks to all the rain we've gotten, but we couldn't get it dry enough to take off until now.
Corn
Do you feed you animals feed that has corn in it? If so, you can expect the price of that to increase as well. Although corn needs rain, the record amounts we've been getting here is making it rot. Same goes for Iowa which is a big corn producing state from what I'm told. Also, the hail destroys the corn even further.
Gas prices are already expected to reach $1.70 - $1.80 at the end of the year, and with a bad corn crop there will be a lack of ethanol so it could be way more expensive. We'll see what happens.
Beans
So all the farmers that lost their corn crops are planting beans. Beans are a hardier crop that can grow and be mature by harvest time. So if you eat tofu, this is a good thing for you! With a surplus bean crop, prices should decrease a bit.
This is just my prediction. I could be way off, but at this point I think I'm pretty close to hitting the nail on the head.
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Do you agree? Disagree? Have anything to add?
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I'm a farmer - I'll grow on you.
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