February 16, 2021 | 5:40 pm Font Size
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A RANCHER passes in front of a herd of cattle grazing in a field at the Barthle Brothers Ranch in Dade City, Florida, US on Friday, Jan. 22. BLOOMBERG
THERE are signs that the food inflation that’s gripped the world over the past year, raising prices of everything from shredded cheese to peanut butter, is about to get worse.
The coronavirus disease 2019 (COVID-19) pandemic upended food supply chains, paralyzing shipping, sickening workers that keep the world fed and ultimately raising consumer grocery costs around the globe last year. Now farmers especially ones raising cattle, hogs and poultry are getting squeezed by the highest corn and soybean prices in seven years. It’s lifted the costs of feeding their herds by 30% or more.
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