Freight costs are expected to remain elevated through winter despite recent drops in crude oil prices.
Researchers at the Steiner Consulting Group say tight inventories of diesel and heating oil will continue to impact prices. Data from the Bureau of Labor and Statistics show September freight PPI up 20 percent compared to last year with earlier costs up nearly 40 percent on the year.
Right now, freight costs are up nearly 50 percent compared to before the pandemic. Diesel and heating oil inventories are currently sitting just above 100 million barrels, which is well below the five-year average.
Related Stories
The Louisiana Farm Bureau has made 2024 a year for change and advocacy. The state’s Young Farmers & Ranchers Club recently met with congressional delegates on the issues affecting their employees and operations.
The Iowa Soybean Association shows us how one company, Benson Hill, is helping farmers grow soybeans with a specific purpose.
