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Commodities update – April 7, 2008
April 6, 2008
CHICAGO — Block cheese prices on the Chicago Mercantile Exchange remained relatively unchanged for the trading week ended April 4, averaging $1.81 per pound, up a penny from an average of $1.80 per pound the previous week.
Block cheese closed at $1.80 per pound Monday and slightly above $1.80 per pound Tuesday and Wednesday. Prices advanced to a closing price of $1.82 per pound Thursday, pulling back to finish the week slightly above $1.81 per pound.
Wheat Wheat for May delivery closed at $13.25 per bushel Friday on the Minneapolis Grain Exchange, up from a closing price of $12.75 per bushel the previous day. Prices had closed at $11.94 per bushel Monday and rose slightly to a closing price of $11.55 per bushel Tuesday and $12.15 Wednesday.
Friday's close was slightly higher than the previous Friday, when wheat finished the trading week at $13.19 per bushel.
Gasoline and diesel fuel The nationwide average for regular unleaded gasoline was $3.39 per gallon April 7, according to AAA and the Oil Price Information Service, up 10 cents from this time last week. Prices were up 6 percent from an average of $3.20 a month ago and up 23 percent from an average of $2.76 this time last year. Mid-range unleaded averaged $3.55, while premium unleaded stood at $3.67 per gallon. The nationwide average price for diesel fuel stood at $4 per gallon April 7, down slightly from an average of $4.02 per gallon last week. Diesel prices are up 38 percent from an average of $2.90 per gallon this time last year. Natural gas
Natural gas spot prices increased in all regions in the lower 48 states for the period from March 27 to April 2, according to the Department of Energy. The Henry Hub spot price increased 34 cents to $9.59 per MMBtuu April 2.Cold temperatures continued for a portion of the week in the Northeast and for most of the week in the West, likely boosting heat demand.
Prices in the Northeast were $10.47 per MMBtu April 2, up 4 percent from $10.07 the previous week.
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