Food prices expected to rise in 2013 - Fox 2 News Headlines

Food prices expected to rise in 2013

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2013 is right around the corner, but if one of your resolutions is to work on your household budget, you may want to set aside more money for food.

Prices at the grocery store are going up and some things will get more expensive in the coming weeks.

The price hike is largely due to the drought of 2012. Meat and dairy prices will increase first, with other items following suit in the coming months.

So, what's to blame? Corn.

Corn and soybean crops across the Midwest are inadequate for the country's needs.  

Both foods are used to feed chickens and cows. When it costs more to feed the animals, it costs more to get it to your table.  

The dry spell of Summer 2011, the worst since 1950, caused this year's crops to be the smallest harvest farmers have seen in years.

What's the time table on price hikes?

Processed foods, like cereal, bread and crackers, will rise mid 2013.

Experts say the processed food increases won't be as drastic as fresh items.     

If you love a good steak, prices are expected to go up 4 to 6 percent in 2013. Plus, some estimates by the cattleman's association say it'll go up again in 2014.

The meat to buy now: Pork.

Prices are expected to go down before they go higher. It's getting expensive for farmers to feed pigs so they're selling them off.

The result is a temporary glut, with lots of pork at grocery stores.

Hams were just 49 cents a pound at Fresh and Easy.

To save yourself some cash, be a smart shopper. Freeze what you can while prices are still low. You can also try buying directly from a beef producer, to cut out the middle man.

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