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Food Price Outlook Corinne Alexander cealexan @purdue.edu Purdue University August 19, 2011

Food Price Outlook Corinne Alexander cealexan @purdue.edu Purdue University August 19, 2011. http://www.ers.usda.gov/Briefing/CPIFoodAndExpenditures/Data/cpiforecasts.htm. http://www.ers.usda.gov/Publications/ERR114/ERR114.pdf. Ingredient Prices Up. Late August CME Nearby Futures Quotes.

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Food Price Outlook Corinne Alexander cealexan @purdue.edu Purdue University August 19, 2011

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  1. Food Price OutlookCorinne Alexander cealexan@purdue.eduPurdue University August 19, 2011 Department of Agricultural Economics Purdue University

  2. Department of Agricultural Economics Purdue University

  3. Department of Agricultural Economics Purdue University

  4. Department of Agricultural Economics Purdue University

  5. http://www.ers.usda.gov/Briefing/CPIFoodAndExpenditures/Data/cpiforecasts.htmhttp://www.ers.usda.gov/Briefing/CPIFoodAndExpenditures/Data/cpiforecasts.htm Department of Agricultural Economics Purdue University

  6. Department of Agricultural Economics Purdue University

  7. Department of Agricultural Economics Purdue University

  8. Department of Agricultural Economics Purdue University

  9. http://www.ers.usda.gov/Publications/ERR114/ERR114.pdf Department of Agricultural Economics Purdue University

  10. Ingredient Prices Up Late August CME Nearby Futures Quotes

  11. Ingredient Prices Up Late August CME Nearby Futures Quotes

  12. 2012 Food Price Prediction • ERS predicts (June 25, 2011) • 3.0 to 4.0% for 2011 • 2.5 to 3.5% for 2012 • Corinne • 3.5 to 5.0% for 2011 • 3.0 to 4.0% for 2012 • Big unknowns are • Weather and it’s impact on crop and livestock production • Global economy • Individual categories will see sharp increases • Pasta, beef, … Department of Agricultural Economics Purdue University

  13. I think most farmers here know, particularly if you’re in livestock farming, right now the costs of feed keep on going up and the costs of food as a consequence are also going up.  Only about 4 percent of that is accounted for by corn being diverted into ethanol, but as you see more and more demand placed on our food supplies around the world — as folks in China and folks in India start wanting to eat more meat and commodity prices start going up, it’s going to be important for us to figure out how can we make biofuels out of things that don’t involve our food chain. • -Obama, 8/17/2011 Department of Agricultural Economics Purdue University

  14. Questions?

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