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Retail diesel prices slightly rise

Retail diesel prices in the United States saw an average rise of one cent this week to sit at $2.91.

Throughout the country only the Rocky Mountain region rose by more than one cent with a two cent rise. The Central Atlantic region stayed fixed at $2.16.

The West Coast region continues to have the highest retail diesel prices at $3.17.

Markets

Morning Farm Report: Crop prices drop

Live cattle prices saw a dip on Tuesday, falling 33 cents to hit $151.80. The 27-day average now rests at $153.57. Feeder cattle prices did better, rising 60 cents to hit $219.60. The rise brought the 27-day average price to $216.33.

Lean hog prices fell 55 cents to $83.18 on Tuesday to bring the 27-day average price to $81.85. 

Wheat prices saw a steep drop of 21 cents, falling to $4.94. Corn also fell five cents.

News

Argentina’s labor situation supports soy complex

Financial markets depressed commodity markets Tuesday. Renewed concerns about European Monetary Union and the euro have resurged this week, thereby spurring big U.S. dollar gains and sending stock indexes lower. Both of those reactions are seen as negative for commodity demand, which was probably a big reason corn futures fell today. The outsized wheat breakdown apparently weighed on corn as well. July corn futures settled 5.0 cents lower at $3.55/bushel Tuesday, while December lost 4.5 to $3.7325.

Contributors

Jolley: The trumpet has sounded, all is lost

My old friend Keith Nunes, writing his column for Food Business News, hoisted his keyboard trumpet and played Taps for the 'science' of food. He wrote "Taco Bell, a Yum! Brands business unit, plans to remove all artificial flavors and colors from its food and replace them with alternatives perceived as natural by the end of 2015. The company also has set a goal of 2017 to remove all artificial preservatives and additives."

Markets

Boxed Beef Report: Beef prices mixed at beginning of week

Choice boxed beef prices dropped 30 cents on Tuesday to hit $260.50, bringing the 27-day average price to $260.02.  Select boxed beef prices are up to $248.75. The 75 cent increase brought the 27-day average price to $248.63.

Choice primal rib prices saw a $2.63 increase to hit $386.59, the largest increase on Tuesday. Choice primal chuck saw the opposite effect, dropping $2.87 to hit $199.84.

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