SLO Co Building New $2.2 Mil Facility – Cloud Co, manufacturer of tank cleaning machines offers cleaning systems for key Central California industries including bulk transport, marine, food processing, brewing and wineries to name some – all made in San Luis Obispo.
Now the family owned company is building a $2.2 million facility near the SLO airport at 4855 Morabito Place, off Broad/Edna.Founded as a tool and die shop in San Francisco in 1951 the company acquired the Seller line of machines in 2008.
Gas prices are heading down,not up across the state. In SLO town gas has dropped to below $4 a gallon at several locations.Gas Buddy confirms the trend,prices are heading down with some locations selling gas today in Northern California for $3.52 today.AAA says the average price across the state is $4. In New York ,gasoline futures have dropped by 40 to 45 cents since mid-February although California gas sells for a few cents more.
California mortgage rates are down to 3.36% today. Zillow Mortgage Marketplace’s current mortgage rates in California for 30-year fixed-rate mortgages dropped 2 basis points from 3.40% to 3.38% on Friday and down to 3.36 on Saturday.The California mortgage interest rate on April 5, 2013, is down 11 basis points from last week’s average California rate of 3.49%.
Drought is clear in California and the West as seen in this latest Drought Monitor map .It is just as clear that the Midwest is recovering for its drought last year and that could relief for California livestock owners for feed and food prices for consumers later this year.
In California while rainfall amounts this season are awful, reservoir storage is not as bad – a good reason why we have dams. Shasta is at 101% of average for this date,Oroville is 108%,Folsom at 97%,New Melones at 105% of average. It is not as bright a picture in the south Valley with Millerton at 88%,Pine Flat on the Kings at 65%,Tule River’s Success Dam at 75% and Lake Isabella 44%.Kaweah River’s Terminus Dam is 115% of average. So far this water year Kaweah watershed precip is about 50% of average.
Friant Water Contractors will get just 55% of their allotment this year the Bureau of Reclamation announced this past week,down from an expected 65%. Farmers will be pumping from their groundwater supply this summer.
Corn Prices eased again late last week with May Corn falling to $6.29 a bushel. Some 68% of dairy operators costs are feed related.Meanwhile beef and milk prices paid to producers have been heading higher and we will likely see more volume in coming months.