The worst U.S. drought since 1936 has devastated crops and livestock across the country and opened the floodgates to opportunists hawking genetically modified (GM) seed products. Worse yet, socioeconomic experts now predict that the world may be less than one year away from a catastrophic food crisis that could lead to even more political instability and civil unrest.
Meanwhile, consumers are bracing for a harsh winter as food prices begin their rise to unprecedented levels. Meat and dairy products, which account for 52% of the world’s food basket, are expected to become far more expensive over the next several months as farmers around the globe continue to slaughter millions of hogs, dairy cows and steers because they cannot afford the corn and soybean products used to make feed. It has gotten so bad that, in several cases, farmers have even been adding candy to cattle feed because of rising grain prices.
According to analysts at Rabobank, a leading agricultural investment house: “There will be an initial glut in meat availability as people slaughter their animals to reduce their feed bills. But by next year herds will be so reduced that there won’t be enough animals to meet expected demand, and prices will soar.