NEW YORK - January 8, 2010 - From produce to meat, juice to bread… the sharp drop in temperatures blanketing most of the United States could add up to a spike in prices at the grocery store.

Aaron Elstein, who reports on Wall Street for Crain’s New York, says that frigid temperatures have affected wheat, produce and livestock.

Across Florida, farmers are doing everything they can to protect their multi-million dollar crop, just as it’s ready for harvest.

Orange trees can be killed with just 4 hours of freezing temperatures… the last time the Sunshine State faced a problem of this magnitude, in 1985… hundreds of millions of dollars of oranges were decimated. Experts say we should expect to see juice prices jump by a dollar a carton.

It’s not just produce prices that will be affected; everything from wheat products, breads and cereals to bacon and meat will see price increases. But there may be a silver lining.

Since the winter wheat crop in the midwest may be damaged, livestock producers may choose to bring animals to slaugther quicker than usual, pushing extra meat onto shelves.

However, with oranges, meat and wheat all being traded on the commodities market… that can quickly translate into higher prices on store shelves.