The Midwest drought has withered the nation's corn crop and pushed prices up. Now, the market for alternative feed for cattle is skyrocketing — sending farmers scrambling for cheaper alternatives, like gummy worms and ice cream sprinkles.
Substitutes for expensive corn feed range from the unprocessed — straw and cottonseed hulls — to a teenager's diet — ice cream, chocolate and gummy worms.
The U.S. drought is fueling a corn shortage that's driving up prices around the globe. And yet, federal support for corn ethanol — a fuel additive — means some 40 percent of U.S. corn will be turned into ethanol this year.
Farmers in dry areas who rely on irrigation start off better in a drought than farmers who count on rain. But when water tables fall, irrigation starts to shut down.
Soybean prices have reached a record high, and corn prices are near records in the midst of a rough drought across the Midwest. It could impact all of us soon in the form of higher prices for everything from cereal to chicken.
Temperatures may finally be cooling off, but hot temperatures and corresponding droughts are hurting farmers — and that could trickle down to your own wallet soon.