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Extreme Drought Hits Much of US; Ranchers Sell Herds as Feed Costs Skyrocket

Kurt114 Wrote: Jul 15, 2012 9:36 AM
A lot of herds are going to auction now in the Dakotas and Wyoming. Some ranchers put back hay for the past few years and are in good shape as far as that goes. Some did not, and grasshoppers aren't helping them any. The real problem is that there is very little water left in the stock ponds. We have had some rain recently, but that will need to keep up if we are to keep the cattle in pasture gaining weight until the fall. From what we understand the high pressure system that was stalled over us has moved on, so those who have lasted this long may make it.

Corn, soybean and wheat prices have soared lately due to poor crop estimates amid extreme drought conditions in 26 states.

Let's take a look at those conditions, followed by charts of agricultural commodities

The Atlantic Wire reports U.S. Declares the Largest Natural Disaster Area Ever Due to Drought

AP Photo/Seth Perlman

The blistering summer and ongoing drought conditions have the prompted the U.S. Agriculture Department to declare a federal disaster area in more than 1,000...