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Commodities update – April 14, 2008
April 13, 2008
CHICAGO — Block cheese prices on the Chicago Mercantile Exchange crept upward for the trading week ended April 11, averaging $1.85 per pound, up 4 cents from an average of $1.81 per pound the previous week.
Block cheese closed at $1.81 per pound Monday and just above $1.85 per pound Tuesday, climbing to a closing price of $1.89 per pound Wednesday and Thursday. Prices droped to a closing price of $1.84 per pound Friday. Cheese prices are up 30 percent compared with an average price of $1.42 per pound this time last year.
Wheat Wheat for May delivery closed at $12.92 per bushel Friday on the Minneapolis Grain Exchange, down from a closing price of $13.15 per bushel the previous day. Prices had closed at $13.50 per bushel Monday, $13.25 per bushel Tuesday and $13.20 per bushel on Wednesday.
Friday's close was off 2 percent compared with the previous Friday, when wheat finished the trading week at $13.25 per bushel.
Gasoline and diesel fuel The nationwide average for regular unleaded gasoline was $3.37 per gallon April 14, according to AAA and the Oil Price Information Service, down 2 cents from this time last week. Prices were up 3 percent from an average of $3.28 a month ago and up 18 percent from an average of $2.85 this time last year. Mid-range unleaded averaged $3.58, while premium unleaded stood at $3.71 per gallon. The nationwide average price for diesel fuel stood at $4.10 per gallon April 14, up 3 percent from an average of $4 per gallon last week. Diesel prices are up 40 percent from an average of $2.93 per gallon this time last year. Natural gas
Natural gas spot prices increased in most regions in the lower 48 states for the period from April 3 to April 9, according to the Department of Energy. During the reporting period, the Henry Hub spot price increased 30 cents to $9.89 per MMBtuu, up 3 percent compared with the previous week.
Prices in the Northeast were $10.70 per MMBtu April 9, up 2 percent from $10.47 the previous week.
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