-October 30,2022-
WSJ: Oct 30
Natural-gas prices have fallen more than 40% since hitting shale-era highs in late August, reducing the risk of budget-busting heating bills this winter for millions of Americans and potentially easing a major cost pressure for manufacturers.
The decline is due to warm autumn weather, record domestic production and gas-storage facilities that have filled up fast since the end of air-conditioning season. Now, one of the big drivers of inflation costs roughly the same as it did a year ago.
California average gasoline prices fell from $6.21 in late September to $5.50 as of October 24 says the California Energy Commission. That is a drop of 71 cents at the pump.
No back-up at our ports. The queue of ships waiting to unload at the ports of Los Angeles and Long Beach fell from a peak of 109 ships in January to four vessels this week.Descartes Systems Group Inc., says container imports to the U.S. in September declined by 11% from a year earlier and by 12.4% from August.
Shipping lines have canceled between 26% to 31% of their sailings across the Pacific over the coming weeks, according to Sea-Intelligence. In September of 2021 the average cost for shipping a container from Asia to the U.S. West Coast exceeded $20,000. Last week, the average cost to ship a container from Asia to the U.S. West Coast had declined 84% from a year earlier to $2,720.
Coffee cash prices are down to $1.74 lb vs $2.40 last Spring
December arabica coffee (KCZ22) on Friday closed sharply lower by -9.05 (-5.26%), and Jan ICE Robusta coffee (RMF23) closed down -29 (-1.54%).
Arabica coffee prices Friday extended the sharp sell-off seen in the past three weeks and fell to a new 15-month nearest-futures low. Robusta coffee fell to a 14-month nearest-future low. Coffee prices are retreating on demand concerns
DTN
Fertilizer prices head lower:The starter fertilizer 10-34-0 led the average price drop on five of eight fertilizers tracked by DTN in the third week of October, continuing to show a significant drop for the third consecutive week.
The average price of 10-34-0 came in 12% lower compared to one month ago at $759 per ton. DTN defines a significant drop in price as 5% or higher.
Two fertilizers recorded price drops of 2% including MAP and DAP. The average price of DAP came in at $930/ton while MAP was $986. The average price of potash fell by 1% to $863/ton. The price of UAN28 dropped fractionally to $576/ton.
Zumper
Rent prices begin course-correcting: October report reveals significant price drops throughout much of the country. National one-bedroom median rent is down 0.8% over last month, to $1,491 and the two-bedroom median is down 0.7% to $1,832. More than half the cities on our list posted month-over-month declines and 19 cities remained flat, leaving just 20% of Zumper’s top 100 list with month-over-month increases. This slowdown is showing up in our year-over-year figures, too: After 12 straight months of double-digit year-over-year jumps, the national median is up a slightly more reasonable 9.2% over October of last year.
This reversal of widespread price hikes is fueled by several factors, including rising vacancy rates in some markets, a return to more typical seasonal moving patterns and, above all, fear of recession.
Used Car Prices
After rising to record levels, used car prices are starting to fall.
They dropped 4.3% in September according to the Consumer Price Index, South Region report. That dip was by far the biggest change of 2022.
This price drop is enough to cover the rise in interest rates this year.
Bloomberg Commodity Index falls from a high this July
