News
Commodities update – Feb. 25, 2008
February 24, 2008
CHICAGO — Block cheese prices on the Chicago Mercantile Exchange continued to climb during the shortened trading week, averaging $2.06 per pound for the week ended Feb. 22, up 3 percent from an average of $2 per pound the previous week.
The markets were closed Feb. 18 for President's Day.
Prices closed at $2.05 per pound Tuesday and Wednesday and crept upward to close at $2.07 Thursday and Friday.
Cheese prices are up about 53 percent compared with the same week last year, when they averaged $1.35 per pound. Wheat Wheat futures for March delivery closed at $10.49 Friday on the Chicago Board of Trade after rising as high as $10.91 earlier in the week.
Gasoline and diesel fuel The nationwide average for regular unleaded gasoline was $3.44 per gallon Feb. 25, according to AAA and the Oil Price Information Service, up 10 cents from this time last week. Prices were up 5 percent from an average of $3 a month ago and up 35 percent from an average of $2.33 this time last year. Mid-range unleaded averaged $3.33 while premium unleaded stood at $3.45 per gallon. The nationwide average price for diesel fuel stood at $3.59 per gallon Feb. 25, up 4 percent from an average of $3.44 per gallon last week. Diesel prices are up 38 percent from an average of $2.61 per gallon this time last year. Natural gas
Natural gas spot prices increased in all areas for the period from Feb. 13 to Feb. 20 as colder temperatures swept across the country. The average spot price for natural gas rose 9 percent to $9.08, from $8.35 the previous week. The average spot price was the highest in more than a year and 72 percent higher than a Sept. 4 low of $5.29 per MMBtu.
Prices in the Northeast averaged $10.63 per MMBtu Feb. 20, up 73 cents from the previous Wednesday.
Related Media
Subscribe
Get the latest news and resources from Pizza Marketplace.
