Commodities update - Week of Dec. 1, 2008

Nov. 30, 2008
CHICAGO -- Block cheese prices on the Chicago Mercantile Exchange trended upward during the shortened trading week, averaging slightly above $1.79 per pound for the trading week ended Nov. 26, up 4 cents from the previous week.
The CME was closed Thursday and Friday for the Thanksgiving holiday.
The closing price for block cheese closed at slightly under $1.78 per pound Monday and slightly above $1.80 per pound Tuesday and Wednesday.
Prices are down 39 cents compared with this time last year, when block cheese averaged just above $2.18 per pound.
Wheat   Wheat for December delivery closed at just under $6 per bushel Friday on the Minneapolis Grain Exchange. Prices had closed at just under $6.16 per bushel Monday, slightly under $6.06 per bushel Tuesday and slightly above $6.01 per bushel Wednesday.
The MGE was closed Thursday.
Gasoline and diesel fuel   The nationwide average for regular unleaded gasoline was $1.82 per gallon Dec. 1, according to AAA and the Oil Price Information Service, off 9 cents from $1.91 per gallon this time last week.
Prices are off 26 percent from an average of $2.46 per gallon a month ago and off 40 percent from an average of $3.07 per gallon this time last year. Mid-range unleaded averaged $1.93 per gallon, while premium unleaded stood at $2 per gallon.
The nationwide average price for diesel fuel stood at $2.74 per gallon Dec. 1, off 8 cents from $2.82 per gallon last week. Diesel prices are off 21 percent from an average of $3.49 per gallon this time last year.
Natural gas   The Energy Information did not issue a natural gas price report last week due to the Thanksgiving holiday.

Topics: Cheese , Dough , Operations Management

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