Commodities update - Week of March 2, 2009

March 8, 2009
CHICAGO -- Block cheese prices on the Chicago Mercantile Exchange averaged slightly under $1.18 per pound for the trading week ended March 6, off 4 cents from the previous week.   Block cheese prices closed at slightly above $1.17 per pound Monday, slightly above $1.16 per pound Tuesday, $1.17 per pound Wednesday, slightly above $1.17 per pound Thursday and $1.20 per pound on Friday.   Prices are off 72 cents, or 38 percent, compared with this time last year, when block cheese averaged $1.90 per pound.   Wheat   Wheat for March delivery closed at $6.31 per bushel Friday on the Minneapolis Grain Exchange. Prices had closed at $6.12 per bushel Monday, slightly above $6.08 per bushel Tuesday, just under $6.23 per bushel Wednesday and $6.20 per bushel Thursday.   Gasoline and diesel fuel   The nationwide average for regular unleaded gasoline was $1.94 per gallon March 9, according to AAA and the Oil Price Information Service, up a penny from the previous week.   Prices are up slightly from an average of $1.92 per gallon a month ago and off 40 percent from an average of $3.22 per gallon this time last year. Mid-range unleaded averaged $2.06 per gallon while premium unleaded stood at $2.14 per gallon.   The nationwide average price for diesel fuel stood at $2.17 per gallon March 9, up 7 cents from last week. Diesel prices are off 43 percent from an average of $3.81 per gallon this time last year.   Natural gas
A late winter cold spell in major population centers in the lower 48 states this report week temporarily boosted natural gas prices in most of the country, according to the Energy Information Administration. The Henry Hub spot price increased 3 cents per million Btu to $4.23.
Prices in the Northeast stood at $5.27 per MMBtu on March 4, up 46 cents cents compared with $4.81 the previous week.

Topics: Cheese , Crime , Delivery , Dough , Operations Management

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