Commodities update - Week of Oct. 20, 2008

Oct. 19, 2008
CHICAGO -- Block cheese prices on the Chicago Mercantile Exchange averaged $1.87 per pound for the trading week ended Oct. 17, up 2 cents from the previous week.   The closing price for block cheese closed at $1.89 Monday through Thursday before dropping to a closing price of $1.79 per pound on Friday.
Prices were up slightly compared with this time last year, when block cheese averaged just under $1.86 per pound.
Wheat   Wheat for December delivery closed at $6.40 per bushel Friday on the Minneapolis Grain Exchange. Prices had closed at $6.63 per bushel Monday, $6.64 per bushel Tuesday, $6.38 per bushel Wednesday and $6.32 per bushel on Thursday.
Gasoline and diesel fuel   The nationwide average for regular unleaded gasoline was $2.92 per gallon Oct. 13, according to AAA and the Oil Price Information Service, off 28 cents from $3.20 per gallon this time last week. Prices are off 9 percent from an average of $3.78 per gallon a month ago and up 4 percent from an average of $2.82 per gallon this time last year. Mid-range unleaded averaged $3.05 per gallon, while premium unleaded stood at $3.14 per gallon.
The nationwide average price for diesel fuel stood at $3.64 per gallon Oct. 20, off 20 cents from $3.84 per gallon from last week. Diesel prices are up 17 percent from an average of $3.12 per gallon this time last year.
Natural gas   Natural gas spot prices increased at most markets in the lower 48 states outside the California, West Texas, and Arizona/Nevada regions, with prices rising as much as 76 cents per million Btu, according to the Energy Information Administration.
Prices at the Henry Hub rose 6 cents per MMBtu or about 1 percent, to $6.64 per MMBtu, compared with $6.58 per MMBtu this time last week. Prices in the Northeast were $7.09 per MMBtu Oct. 15, up 15 cents from the previous week.

Topics: Cheese , Delivery , Dough , Operations Management

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