Friday, March 09, 2007

Demand For Corn Driving Up Meat Prices

From Yahoo! News:

Strong demand for corn from ethanol plants is driving up the cost of livestock and will raise prices for beef, pork and chicken, the Agriculture Department said Friday. Meat and poultry production will fall as producers face higher feed costs, the department said in its monthly crop report. Ethanol fuel, which is blended with gasoline, is consuming 20% of last year's corn crop and is expected to gobble up more than 25% of this year's crop.

So does this mean the American taxpayer can cut back on farm subsidies?
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