Nebraska farmers expected to benefit as crop prices rise
For the last nine months there has been a significant rise in prices for commodities produced right here in Nebraska.
LINCOLN, Neb. (KLKN) —With soybean, wheat and corn prices on the rise, you may notice a small impact to your wallet. It’s farmers who will see a large benefit.
“For the first time in many years, they’re looking as they go into the fields of spring at a potential profitable year. So, their revenue should go up from from the markets,” Jay Rempe with the Nebraska Farm Bureau said.
For the last nine months there has been a significant rise in prices for commodities produced right here in Nebraska. Corn prices gained a dollar a bushel in just 14 days. While it’s very rare, Rempe said it’s something farmers needed.
“We’ve had a series of years where it’s been kind of tough for the farmers, they’ve had to take out loans to try to keep their operations afloat. This gives them a chance to pay off those debts,” Rempe said.
Rempe said production hiccups, big storms last summer in Iowa that took out millions of acres of crops and droughts in South America are all factors of the rising cost. How will it affect the everyday consumer?
“Particularly maybe at the meat counter, because it costs more to feed out the livestock, the cattle, the hogs. So, you might be paying a little more for your hamburger or maybe a little more for your pork chop as this filters through in a few months,” Rempe said.
He doesn’t expect the rise to be too significant, maybe just a few pennies in terms of overall price.
If production in the fall goes well for farmers, prices should begin to taper off as we exit harvest season and then your cost at the grocery store will decrease by the first part of next year.
For now, farmers in Nebraska get to take advantage of the demand.