Commodities update - Week of Oct. 27, 2008

 
Oct. 26, 2008
CHICAGO -- Block cheese prices on the Chicago Mercantile Exchange averaged slightly above $1.78 per pound for the trading week ended Oct. 24, off 9 cents from the previous week.   The closing price for block cheese closed at just above $1.79 Monday through Thursday before dropping to a closing price of just below $1.74 per pound on Friday.
 
Prices are down 12 cents compared with this time last year, when block cheese averaged just over $1.90 per pound.
 
Wheat   Wheat for December delivery closed at just under $6.02 per bushel Friday on the Minneapolis Grain Exchange. Prices had closed at just under $6.43 per bushel Monday, $6.29 per bushel Tuesday, just under $6 per bushel Wednesday and just above $6.05 per bushel on Thursday.
 
Gasoline and diesel fuel   The nationwide average for regular unleaded gasoline was $2.67 per gallon Oct. 27, according to AAA and the Oil Price Information Service, off 25 cents from $2.92 per gallon this time last week.
 
Prices are off 27 percent from an average of $3.67 per gallon a month ago and off 6 percent from an average of $2.85 per gallon this time last year. Mid-range unleaded averaged $2.78 per gallon, while premium unleaded stood at $2.87 per gallon.
 
The nationwide average price for diesel fuel stood at $3.44 per gallon Oct. 27, off 20 cents from $3.64 per gallon from last week. Diesel prices are up 8 percent from an average of $3.19 per gallon this time last year.
 
Natural gas   Natural gas spot prices in the lower 48 states increased this report week as a result of cold weather in some major gas consuming areas of the country, several ongoing pipeline maintenance projects, and the continuing production shut-ins in the Gulf of Mexico region, according to the Energy Information Administration.
 
Prices at the Henry Hub rose 30 cents per MMBtu or about 5 percent, to $6.94 per MMBtu, compared with $6.64 per MMBtu this time last week. Prices in the Northeast were $7.80 per MMBtu Oct. 22, up 71 cents from the previous week.
 

Topics: Cheese , Dough , Operations Management


Related Content


Latest Content


comments powered by Disqus

 

TRENDING

 

WHITE PAPERS