June 27, 2008
Thanksgiving turkey to become costly on Midwest floods
Thanksgiving turkeys and Christmas hams could become very costly this year, as the recent floods have severely affected about 2 million acres of corn and soy fields in key growing states.
The floods have caused world grain prices to move up due to fears of a much smaller corn crop.
US turkey producers may reduce their flocks by 10-15 percent nationwide, a move that will send turkey prices spiraling high, according to Paul Hill, chairman of turkey processor West Liberty Foods and of the National Turkey Federation.
Hill added that the cost of Thanksgiving and Christmas turkeys will increase this year and may go on rising further in 2009.
