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Retail diesel prices continue to fall

Retail diesel prices continued to fall this week, seeing an average decrease in the US of five cents to hit $2.51. The 27-week average is now at $2.80.

The New England region saw the largest fall of seven cents to $2.67, bringing the 27-week average price to $3.05. Despite the large fall, the region does not have the lowest diesel prices-- the Gulf Coast currently holds that position at $2.38. The Rocky Mountain region saw the smallest drop of only three cents. 

Markets

Morning Farm Report: Lean hog prices up over weekend

Live cattle prices dropped over the weekend from $146.53 on Friday to $143.20 on Monday, a $3.33 fall that brought the 27-day average price to $146.45. Feeder cattle also dropped 57 cents to $201.83. The 27-day average price now rests at $211.44.

Lean hog prices saw an increase over the weekend from $66.43 on Friday to $68.03 on Monday. The $1.60 increase brought the 27-day average price to $73.02.

Corn prices increased one cent over the weekend, while wheat jumped six cents to hit $4.83.

Markets

Boxed Beef Report: Beef prices drop

Choice boxed beef prices dropped over the weekend from $243.63 on Friday to $242.42 on Monday. The $1.21 fall brought the 27-day average price to $239.78. Select boxed beef also saw a 28-cent drop to hit $232.55, bringing the 27-day average price to $232.28.

Choice primal rib fell the most over the weekend from $350.76 to $346.74, a $4.03 fall that brought the 27-day average price to $336,23. Choice primal loin also fell $2.80. Chioce primal chuck and choice primal brisket were the only two cuts to not fall, jumping $1.67 and 56 cents, respectively.

Industry

Tick bite causes red meat allergy

A simple tick bite may be causing life-threatening allergies to beef and pork. One Missouri man found himself suffering anaphylaxis after eating a hot roast beef sandwich, reports Meryl Lin McKean for Fox4 Kansas City.

Markets

Where are gasoline prices headed?

Crude oil prices have once again been making headlines, dipping into the upper $30s and lower $40s per barrel. In an article last week (farmdoc daily, August 19, 2015), it was shown that real (inflation-adjusted) prices of crude of oil and gasoline have fallen back to levels prevailing more than a decade ago.

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