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U.S.-Cuba Trade Relationship: Past, present, and possible future

Since December 2014, when the United States and Cuba announced the intention to restore diplomatic ties for the first time in more than half a century, the U.S. has taken steps to ease restrictions on trade, remittances, and travel to Cuba. The actions have generated a wave of enthusiasm about the economic opportunities that a more normal relationship between the two countries could create.

Markets

Gas prices plummet

The United States saw a huge average fall this week for retail gasoline prices, falling 13 cents to $2.41 this week, bringing the 27-day average price to $2.53. The Midwest region saw the largest fall this week of 19 cents to $2.43, while the Rocky Mountain region saw the smallest decrease of only five cents. The Gulf Coast still has the lowest gas prices in the country at $2.19.

Ohio's gas prices fell 30 cents this week to $2.35, while Minnesota dropped 22 cents to $2.42. The lowest gas prices are in Texas at $2.21.

Markets

Morning Farm Report: Corn prices drop

Live cattle and feeder cattle prices both fell on Tuesday. Live cattle decreased $1.87 to $141.33, bringing the 27-day average price to $146.39. Feeder cattle prices also decreased from $201.83 to $200.28. The $1.55 fall brought the 27-day average price to $211.09. Lean hog prices also fell five cents to $67.98, bringing the 27-day average price to $72.66.

Corn prices saw a huge fall of eight cents to $3.56, while wheat increase one cent to $4.84.

Markets

Boxed Beef Report: Beef prices mixed

Choice boxed beef prices dropped from $242.42 on Monday to $241.78 on Tuesday. The 64-cent fall brought the 27-day average price to $240.18. Select boxed beef fell 23 cents to $232.32, bringing the 27-day average price to $232.42.

Choice primal rib saw the largest fall on Tuesday of $3.52 to hit $343.21, bringing the 27-day average price to $337.15. Choice primal loin also fell from $336.53 on Monday to $334.79 on Tuesday, a $1.74 fall. The largest increase was choice primal short plate with a 99-cent jump to $149.66.

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