Question

recommendations on how to deal with decline in food production lead by the drought

Answer 1

Answer:

Since I first became aware of the severity of the drought of 2012, I have been waiting for my grocery bill to rise precipitously. But most of the negative effects of the drought will take some time for the average grocery shopper to feel. In fact, you may find that the cost of your sirloin and pork chops has dropped recently.

This has to do with the economics of livestock farming. When a drought raises the price of feed, farmers need to find a way to make their herds economically sustainable. They do so by liquidating (that is, slaughtering) a portion of their breeding herds. That leaves them with fewer mouths to feed when the price of corn goes up, and gives them an extra influx of cash via the sale of that meat. What it means for consumers is that there is a short-term surplus of meat on the market, making prices lower.

However, we shouldn’t get used to those lower prices, since the reduction of herds means that there will be fewer animals available for slaughter in the coming months, driving the prices up again. The USDA, which tracks the changes in food prices from year to year, estimates that inflation of meat prices will be about 5% in 2013. To put that in perspective, the food inflation rate for all edibles in 2011 was 3.7% – which was already much higher than the usual annual inflation rate of 2%.

Answer 2

That has to do with the livestock farming economics. When a drought increases the price of grain, farmers need to find a way to economically maintain their herds.

Explanation:

• When It first became conscious of the extent of 2012 drought, I have been hoping for a precipitous increase in my food bill. But it should take the typical supermarket shopper some time to experience any of the adverse consequences of the drought. Yes, you may notice the cost of your sirloin and pork chops has recently fallen.
• They do this by liquidating a part of their breeding herds (that is, slaughtering them). That leaves them with less mouths to feed as the corn price increases, and gives them an extra cash inflow from the selling of that meat.

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