WASHINGTON — A U.S. Department of Agriculture economist said the drought will have an impact on U.S. food prices, especially beef. Although Ricky Volpe, USDA economist, and other experts are predicting sharp increases in food prices next year because of sharp declines in many feed grains, Volpe said that most food prices will fall this year. As farmers and ranchers run out of feed and useable pasture, they’ll dump livestock into the markets, driving down prices because of the glut, he said. And Volpee said recent falling energy prices are helping to reduce the effects of the drought on food price increases.
Friday, July 27, 1 p.m.
