Guess some people want to get in on the money. Commodity prices of grains are way up. So what do they do with fertilizer? Raise the price. An example, UREA....this year it was running between $250 to $275 a ton. Price has gone up to $900 a ton. Wheat futures are in the high $7.00 range. Beans are selling for $11 something.
Good example of price gouging if you ask me.....
Sacred Heart of Mary, pray for us now, and at the hour of our death. AMEN
O blood and water which gush forth from the heart of Jesus, have mercy on us
For the sake of his sorrowful Passion, have mercy on us and the whole world
Last time America saw inflation like this it lasted ten+ years. Im afraid we've only began to see a glimpse of whats coming in the next decade. The official number is about 6%, imagine what 18% looks like.
OH its going to get bad, pretty much any farm inputs for crops have double - triple, wait till food prices and fuel next year.
And that is where its gonna hit people the most....FOODOriginally Posted by n2ratfishin
Last time America saw inflation like this it lasted ten+ years. Im afraid we've only began to see a glimpse of whats coming in the next decade. The official number is about 6%, imagine what 18% looks like.
Some things you can go without....food and stuff, gotta have to sustain life.
Sacred Heart of Mary, pray for us now, and at the hour of our death. AMEN
O blood and water which gush forth from the heart of Jesus, have mercy on us
For the sake of his sorrowful Passion, have mercy on us and the whole world
I paid $24 a bag for 8-24-24 to top off my alfalfa one last time last weekend. I'd bought it for $16 last in late July. Next spring is going to suck- I normall buy a ton in April. I Keep hearing inflation at 5-6% but I keep seeing stuff 33% or more inflated....
I officially started my work career, and purchased my first house when Jimmy was president. 30 year fixed at 11.5%, if I remember correctly, and fuel was through the roof. From past experience, we ain't seen nothing yet.
40 pound bag of Rebel fescue at HD $95!!!!!!
Depends on what you're buying.
https://www.bls.gov/news.release/cpi.nr0.htm
As you can see anything energy is flat out through the roof. This winter may prove challenging for people who have never experienced this kind of inflation.
Bought my first in 86, I secured a great 10% rate at the time.
Last edited by n2ratfishin; 10-25-2021 at 12:37 PM.
Bought our first house in 1989 and the rate was 12% then. I can't imagine what people will do or how a house could sell with double digit rates? Our first house was 79K what would double digit interest rates do to 300K and up house - WOW!!!!!! ---- HUGE PAYMENT
My wife and I are first house we got a first time home buyer interest rate at 11.5 percent interest! Crazy.
It’s scary to me. We’ve been renting trying to ride out whatever is coming and now someone is buying our neighborhood to tear down the houses and build huge estate houses. Now we have only a few months to buy and move. It’s scary to drop big money on something now.
I just looked up the house we bought in 86. We paid 69,000. Zillow estimates 240,000 now. The house was a 3 bedroom 2 bath 1200 square feet on a postage stamp yard.
A loan calculator says my payment would be about 605.00 a month on the 69,00 today. the same 10% on 240,000 is 2,106.00. This is just P&I. 4% drops that 240,000 dollar home to 1,145.00 a month. That is for a 35 year old 1200 square foot slab house.
I'm not sure about your area, but a 240,000 dollar house isn't much in my hood these days.
When I figure a 600,000 dollar home like my son lives in, 3500 square feet in Nashville, it's 2,864 a month at 4% and 5,256 a month at 10%.
Perfect storm, high demand low supplies.
Fertilizer is also made from oil so as oil prices go up, so does fertilizer.
Wheat has been high for a while now
2007 Bass Cat Puma
2007 Mercury Pro XS 250
My lawn guy won't send out contracts for next year until February said he doesn't know what to charge. I know he has a warehouse and buys for the whole year for his contract customers.
John the Garage Doorman
Better do it now why rates are the lowest ever!!!
Over 6K a month with Taxes and insurance added..........
When I figure a 600,000 dollar home like my son lives in, 3500 square feet in Nashville, it's 2,864 a month at 4% and 5,256 a month at 10%.
The price of fertilizers are always linked to commodity prices. When commodity prices are higher the value or ROI for fertilizer increases so fertilizer manufacturers are going to take a cut of the extra earnings. But this time is different because the cost of manufacturing fertilizer is also increasing due to increases in the price of ammonia. But none of this means the price of food will go up as farmers are price takers and do not determine the price of food, the market makes that determination. And most of the major crops (corn, soybeans, wheat, cotton) are more industrial inputs than they are food.
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