Fuel bills have been lower recently, but oil saw some upward moves since the Fed cut interest rates last week. Officials with GasBuddy say several factors are at play, but they do not expect prices to continue their climb.
“So a lot of different wild cards. I don’t think oil prices are going to retest the sub-$70 barrel mark. We can head somewhere into the mid $70s for now, but that shouldn’t impact gasoline prices much simply because gasoline demand last week was rather sluggish, with GasBuddy data showing that U.S. gasoline demand last week fell by over two percent,” said Patrick DeHaan with Gasbuddy.com.
Right now, AAA has diesel at $3.58 per gallon, which is nearly $1 less compared to last year at this time. The nationwide average for gasoline is holding around $3.22 per gallon.
Corn ethanol demand and stronger oilseed processing continue supporting domestic markets for crop producers.
The Washington State Tree Fruit Association says crop quality looks promising despite ongoing drought conditions.
IDA Texas’s Cooper Little discusses producer response to New World Screwworm in Texas, ongoing coordination with animal health officials, and the steps being taken to manage and protect livestock movement across the region.
The FAO report continues to serve as a key benchmark for global food market conditions, offering insight into how shifting supply and demand dynamics are impacting food systems worldwide.
Rep. Vicente Gonzalez says producers are concerned about the potential impact on cattle operations and livestock values.
Merck Animal Health shared insights on calf health at the Moly Manufacturing Beef and Greet.
