Food Prices expected to rise due to agricultural losses

POSTED: Wednesday, August 17, 2011 - 4:33pm
UPDATED: Friday, April 13, 2012 - 8:54am

WACO -- It's been a summer of records and that doesn't stop when it comes to agriculture.

According to the National Weather Service in Fort Worth, statewide agricultural losses this year could be roughly $8 billion, double the previous record of $4.1 billion in 2006.

The destructive climate has taken huge hit on crops and livestock, which couldn't be worse timing for Texas farm producers as all of the major agricultural commodities are experiencing strong prices.

"Texas is the number one cattle producing state in the, all of the United States and our numbers are way down and they'll be even further down after everybody sells off," said Marc Scott, McLennan County Texas Farm Bureau President.

The Texas Farm Bureau said those low numbers will come back to consumers, as prices are expected to increase.

And we may not even see these effects until the next year or two.

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