Inflation effects on wheat farmers
LAWTON, Okla. (KSWO) - Farmers across the country are taking a hit from inflation, with today’s Diesel averaging 5 dollars and 27 cents in Oklahoma and a 30 percent increase in fertilizer. It appears whether it’s harvest or planting season for farmers and ranchers the increased equipment prices are taking their toll.
John Morris is a wheat farmer and rancher in Comanche County, he said it’s getting even harder to make money farming.
“Ferterzler prices right now are pretty much double what they were last year and with fuel prices increased on top of it, it’s going to cut back on our profits kinda bit. To make some money farming right now is getting a lot tougher. You’re really having to watch what you spend money on and with all of your investments with your crops,” said Morris.
Morris said he’s even taking a loss when selling his wheat to the Co-Ops.
“Prices were above 12 dollars a bushel but now they’re below 11 dollars here recently, we’re hoping it goes back up to help our profits a little bit,” said Morris.
According to Co-op Services in Lawton prices will increase 10 to 20 percent when selling to retailers.
“It’s going to trickle down the line eventually, I don’t know how much. It’s hard to say because it has to go down the line, where we start right here at the beginning all the way to the store. It can take a year you could see it in a few months I hope it doesn’t inflate too much,” said Morris.
According to bakingbusiness.com bread prices have increased 9.2 cents since February.
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