San Juan Basin Royalty Trust is trading 5.15% lower at $3.50 after the trustee announced no cash distribution for October due to accumulated excess production costs and continued low natural gas prices. * The trust faces a cumulative deficit of approximately $9.32 million net in excess production costs. * Distributions are suspended until this deficit is repaid, a $2 million reserve is replenished, and its line of credit is settled. * U.S. natural gas prices have also weakened, adding pressure to the trust's outlook.