Prices Generally, prices of goods were reported to be steady or falling in nearly all districts. Reports of falling prices were prevalent in the manufacturing sector, with districts mentioning lumber, paper, petrochemicals, plastics, textiles, steel, and automotive and aircraft parts. Prices for some of these products are expected to decline further. Unseasonably warm weather in the United States contributed to falling energy prices and high inventories. Oil prices have fallen to their lowest nominal levels in more than a decade.
Agricultural prices are also low, with the exception of milk.
There were a few reports of price increases, particularly for construction materials and in some real estate markets. Agriculture and Natural Resources Financial stress in the farm sector was reported by the Dallas, Chicago, Minneapolis, Kansas City and San Francisco Districts. Output reports were mixed, but regions with good production were hurt by low product prices. Hog prices are at their lowest levels in nearly 30 years, bringing large losses and some liquidations. A number of apple orchards in the Pacific Northwest went unpicked because prices were too low to cover production costs.