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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (63759)	2/15/2001 7:38:29 AM
From: long-gone	Respond to of 116753

Could we see the same thing happening(without the fertilizer costs but with additional electric costs) in gold mining? Could inflation costs hit the bottom line of the miners? Costs Staggering the Farm Economy MoneyNews.com Wires February 14, 2001 More bad news for farmers in Wisconsin and across the nation: soaring energy and fertilizer costs are threatening an already embattled farm economy, according to a report presented to Congress Tuesday. Net farm income is likely to drop 20%, or $9 billion, over the next two years unless there is a fresh outpouring of federal aid, according to the congressionally funded Food and Agricultural Policy Research Institute, based at the University of Missouri. The cost of fuel farmers need for tractors, combines and irrigation equipment jumped 31 percent nationally last year. Prices may drop slightly in coming months, but growers are expected to be hit this year with a 33 percent increase in fertilizer costs, the report said. Nitrogen fertilizer, which is used to boost yields for corn, soybeans and many other crops, is made from natural gas. For Wisconsin farmers, the bad news was a familiar refrain since they've been beset by falling prices for their milk, beef and pork for several years now as the costs to run their farms continues to grow. "This is an extremely frustrating time to be in agriculture," said Sandy Chalmers, spokeswoman for the Wisconsin agriculture department. "You have to be an optimist to be a farmer. You have to be able to say next year will be better, next year prices will be higher." But next year might not be better. (cont) newsmax.com