Wednesday, November 12, 2008

Input Costs--2009

Diesel Prices Continue to Fall

Caldwell--Idaho Farmers made it through the highest input costs on record in 2008 and as luck would have it, diesel prices fell just as the last harvest machinery cleared the fields.

"The drop in diesel came too late for us, we used all we had and we're buying for next year, said David Dixon of Wilder. “We usually buy half our supply in January but if it stays down, we'll buy it all for next year.”

Farmers are lining up diesel tanker deliveries said Idaho Farm Bureau Federation President Fank Priestley, “they're taking advantage of these low prices why they can.This might be the only chance to cut costs in 2009," he said.

Oil dropped to near $60 a barrel last week, but the market is hovering at $70 a barrel. Despite the fluctuating market prices the AAA projects lower diesel prices with a national average of $3.26 per gallon by the end of the year.

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