Financial Times FT.com

Price of meat surges as poor weather hits US feed crops

By Javier Blas in London

Published: June 17 2008 03:00 | Last updated: June 17 2008 03:00

The world economy faces a fresh wave of food inflation as the price of meat surged to a 22-year high on the back of record costs for corn and soyabean, the key feeding crops for livestock.

Both crops jumped to fresh highs yesterday after US farmers said heavy rain and low temperatures over the past six weeks had damaged millions of acres of crops and meant several million more acres had been left unplanted.

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