Gas Down-Diesel Up and Dairy Consumption Down
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.
**For the first time in over a month, the nation's average price of gasoline declined, falling 4.0 cents from a week ago to $3.78 per gallon.
That is up 5.8 cents from a month ago but 3.5 cents lower than a year ago.
The nation’s average diesel price rose 3.3 cents in the past week to $4.33 per gallon, 70.7 cents lower than one year ago.
**In 2021, U.S. residents consumed 20.3 pounds of frozen dairy products per capita, nearly 6 pounds less than in 2000.
Per capita consumption of frozen dairy products, like ice creams and frozen yogurt among other frozen dairy products, has been declining since the 1990s, dipping to its lowest point in 2021.
Consumption of regular ice cream in 2021 was estimated at 12.0 pounds per person, a drop of about 4 pounds from 2000.
**The cost of price supports for dairy, and several field crops, could skyrocket if Congress allows the 2018 farm bill to expire without a replacement.
In a report called “Expiration of the Farm Bill,” the Congressional Research Service said dairy subsidies could cost between $15 and $19 billion a year, a 28-fold increase, under rules that go into effect on January 1 without a new or extension of the current Farm Bill, or suspension of the underlying, permanent law.
www.agriculture.com/dairy-subsidies-could-cost-usd19-billion-without-new-farm-bill-7852185
