According to the quarterly report from CoBank, diesel fuel prices are nearly 80 percent higher than a year ago. Fertilizer prices are forecast at a record $40 billion, up 15 percent from last year. Corn and soybean prices are higher but are not strong enough to offset the increased fuel and fertilizer costs. Sugar imports are up, but CoBank said U.S. sugar prices are at the highest level in more than a year-and-a-half. For cattle, there has been a marginal increase in beef replacement numbers, but herd rebuilding remains slow.
