Commodities update - Week of Feb. 9, 2009

 
Feb. 8, 2009
CHICAGO -- Block cheese prices on the Chicago Mercantile Exchange remained fairly flat last week, averaging slightly higher than $1.15 per pound for the trading week ended Feb. 6, and up 3 cents from the previous week.   Block cheese prices closed at $1.15 per pound Monday and Tuesday, and slightly above $1.15 per pound Wednesday, Thursday and Friday.
 
Prices are down 78 cents, or 40 percent, compared with this time last year when block cheese averaged $1.93 per pound.   Wheat   Wheat for March delivery closed at just under $6.54 per bushel Friday on the Minneapolis Grain Exchange. Prices had closed at just above $6.46 per bushel Monday, $6.43 per bushel Tuesday, $6.37 per bushel Wednesday and just under $6.56 per bushel Thursday.   Gasoline and diesel fuel   The nationwide average for regular unleaded gasoline was $1.92 per gallon Feb. 9, according to AAA and the Oil Price Information Service, up 4 cents from the previous week.   Prices are up 7 percent from an average of $1.79 per gallon a month ago and off 35 percent from an average of $2.96 per gallon this time last year. Mid-range unleaded averaged $2.04 per gallon while premium unleaded stood at $2.12 per gallon.   The nationwide average price for diesel fuel stood at $2.35 per gallon Feb. 9, off 2 cents from last week. Diesel prices are off 30 percent from an average of $3.37 per gallon this time last year.   Natural gas   Natural gas spot prices decreased in half of the trading regions in the lower 48 states for the report week ended Feb. 4. Generally, areas east of the Rockies and particularly those that experienced frigid temperatures posted weekly price increases. However, there were some exceptions, including the Midcontinent and East Texas.
 
The Henry Hub spot price rose by 17 cents to $5.01 per million BTUs.
 
Prices in the Northeast stood at $11.55 per MMBtu on Feb. 4, up $4.56 compared with $6.99 the previous week.

Topics: Cheese , Dough , Operations Management


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