May 19, 2020 5:32 PM

Some states see double-digit gains in gas prices

Posted May 19, 2020 5:32 PM

For the second consecutive week, the national average price of gasoline has increased, rising 6.4 cents to $1.83 per gallon. The average price of diesel, meanwhile, fell 1.6 cents to $2.41 per gallon.

Patrick DeHaan of GasBuddy says the increase is attributed to a near five percent increase in gasoline demand. DeHaan says, "as long as states continue to loosen restrictions, it'll mean more motorists on the roads and filling their tank."

Crude oil prices continue to march higher as demand for gasoline weighs on the market, with a barrel of West Texas Intermediate crude oil fetching $24.99 Monday morning, up from $19.19 a week ago, an increase of over $5 per barrel.

Brent crude oil was last at $31.11 per barrel, up from $26.01 a week ago. Oil's rally has come as OPEC and other oil-producing countries limit production and as U.S. gasoline demand has rallied as motorists in reopened states and others alike take to the road.

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May 19, 2020 5:32 PM
NPPC gains DOJ approval for industry collaboration to address COVID-19 crisis

On Friday, the U.S. Department of Justice's Antitrust Division provided guidance for collaboration among U.S. hog farmers. The guidance will help farmers effectively address unprecedented challenges brought on by the COVID-19 pandemic.

The favorable decision for NPPC is in response to a "business review" letter submitted to the DOJ by the organization.

The review seek permission to allow hog farmers greater flexibility in working to maximize the number of hogs entering the food supply, minimize the tragic need to euthanize hogs, and, facilitate the safe and orderly euthanization of those hogs which are not able to enter the food supply.

NPPC President Howard AV Roth, a farmer from Wisconsin, says, "Our goal is to efficiently process as many hogs as possible into the food supply."

Roth says appropriate collaboration across the industry and with state and federal government officials will minimize the number of pigs that must be euthanized and ensure that the situation is handled humanely, and that disposal is environmentally sound.