Commodities update - Week of Sept. 29, 2008

Sept. 28, 2008
CHICAGO -- Block cheese prices on the Chicago Mercantile Exchange averaged just under $1.97 per pound for the trading week ended Sept. 26, up 5 cents compared with an average price of $1.93 per pound the previous week.
The closing price for block cheese was just above $1.98 per pound Monday, Tuesday and Wednesday, falling to a closing price of just above $1.95 per pound Thursday and $1.94 per pound Friday. 
Block cheese prices are about 12 cents per pound higher than they were this time last year, when block cheese averaged just under $1.86 per pound.
Wheat   Wheat for December delivery closed at just under $7.90 per bushel Friday on the Minneapolis Grain Exchange. Prices had closed at just above $7.98 per bushel Monday, $8.11 per bushel Tuesday, $7.96 per bushel Wednesday and $8.06 per bushel on Thursday.
Gasoline and diesel fuel   The nationwide average for regular unleaded gasoline was $3.64 per gallon Sept. 29, according to AAA and the Oil Price Information Service, off 10 cents from this time last week. Prices are off slightly from an average of $3.68 per gallon a month ago and up 30 percent from an average of $2.80 per gallon this time last year. Mid-range unleaded averaged $3.80 per gallon, while premium unleaded stood at $3.91 per gallon.
The nationwide average price for diesel fuel stood at $4.08 per gallon Sept. 29, off 3 cents from $4.11 per gallon from last week. Diesel prices are up 32 percent from an average of $3.08 per gallon this time last year.
Natural gas   Natural gas spot prices rose at most markets in the lower 48 states for the reporting week ended Sept. 24, increasing as much as $2.02 per million Btu in some locations.
During the reporting period, prices at the Henry Hub rose 33 cents per MMBtu, or about 4 percent, to $8.15 per MMBtu, compared with $7.82 per MMBtu last week. Prices in the Northeast were $8.15 per MMBtu, up 4 cents from the previous week.

Topics: Cheese , Delivery , Dough , Operations Management

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