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U.S. average retail regular gasoline price decreases, average diesel fuel price increases

The U.S. average retail price of regular gasoline decreased less than a penny from the previous week to remain $2.32 per gallon on October 5, 2015, 98 cents per gallon lower than the same time last year. The Midwest and Gulf Coast prices increased three cents and two cents, respectively, to $2.35 per gallon and $2.04 per gallon, respectively. The Rocky Mountain price decreased six cents to $2.48 per gallon, while the West Coast price fell five cents to $2.79 per gallon. The East Coast price was down one cent to $2.17 per gallon.


Think Europe's halting GMOs? It could be heading for more

The large number of European countries opposing GMO cultivation may have given the impression the bloc is putting a brake on GMOs but with new crops queuing for approval and key countries leaving the door open, output is more likely to grow than wane.


Monsanto slashing 2,600 jobs, buying back shares as sales fall

Monsanto Co. said that it was slashing 2,600 jobs and restructuring operations to cut costs in a slumping commodity market. The company, which said it expected low prices for agricultural products to squeeze results well into 2016, also reported a much wider quarterly loss and gave an outlook below many analysts' expectations.


Morning Farm Report: Cattle prices up

Live cattle prices increased $4.22 to $129.35, bringing the 27-day average price to $135.02. Feeder cattle prices jumped from $182.53 on Tuesday to $184.95 on Wednesday. The $2.42 increase brought the 27-day average price to $192.39.

Lean hog prices saw a 23-cent increase on Wednesday, reaching $73.83. The 27-day average price is now at $70.61.

Corn prices fell two cents to $3.96, while wheat decreased nine cents to $5.17.



Heating oil expenditures forecast to be lower this winter

A forecast combination of warmer weather and lower crude oil prices is contributing to the lowest expected average residential heating oil expenditures in nine years for the winter heating season of 2015-16, which runs from October 1 through March 31. The average household using heating oil is forecast to spend about $1,390 for heating bills during winter 2015-16, down $460 from last winter’s average expenditures.


Look at past El Niño effect on winter and summer

El Niño is here to stay... at least through the winter season, explained Laura Edwards, SDSU Extension climate field specialist.


Feed cost indices for swine enterprises

A recent farmdoc daily article (here) discusses the importance of lower soybean meal costs on pork costs. This article documents the impact of lower corn and soybean meal prices on feed cost indices for a farrow-to-finish enterprise and a hog finishing enterprise, and provides projections for both swine enterprises. It is important to note that the hog finishing enterprise assumes the finishing of an early-weaned pig.


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