Check out Campbell Soup’s better-than-expected profit .

The world’s largest soup company posted operating earnings of 30 cents a share in the fourth quarter of fiscal 2009.

That was four cents better than Wall Street had expected, thanks to higher prices and increased sales of condensed soup and Prego pasta sauce as people ate at home more to save money during the economic slump.

Campbell, known for its soup in the iconic red and white cans, also forecast a stronger-than-expected  increase in earnings in the 2010 fiscal year.

In the past year, Campbell and most other food companies have raised prices to combat then-soaring commodity costs. 

But lower market prices could be on the horizon. 

The U.S. Department of Agriculture said mild weather aided in an expected record soy crop and near-record corn crop. The resulting lower prices will encourage milk and meat production, the according to the USDA.

Also in the basket:

Pernod Ricard execs cautiously optimistic

Fashion’s Secret Helpers (Wall Street Journal)

Penney’s Adds Own Contemporary Line (WWD, subscription required)

(Photo/Reuters)

Christmas is much more expensive this year. At least it is if you go the swans-a-swimming and geese-a-laying route.
 
PNC’s Christmas Price Index was up 8.1 percent this year, the second biggest leap in the 24-year history of the index, which is based on the holiday classic “The Twelve Days of Christmas.”
 
The biggest culprit for the increase? Those darn seven swans-a-swimming, which will costs $5,600 this year, compared with $4,200 in 2007, PNC said.
 
PNC also puts out a core Christmas Price index, which excludes the highly volatile swan sector. That core CPI was up just 1.1 percent.
 
PNC CPI’s sources range from retailers to the National Aviary in Pittsburgh and Philadanco, a modern dance company in Philadelphia.
 
Commodities prices, concerns about increased energy and shipping costs, jobs and a second straight minimum wage increase were major factors in the cost of the index, James Dunigan, managing executive of investments for PNC Wealth Management, said.
 
Prices for turtle doves, partridges and pear trees are also all up more than 30 percent, PNC said.
 
But if you want to save some money, see if your true love will let you get away with only the five golden rings — which are down 11.4 percent this year at $349.95.
 
Hey, there is a recession on, you know.

(Reuters photo)

Check out the latest retail scanner data.
 
The data, compiled by ACNielsen, show what consumers are buying and what they are taking a pass on.
 
According to J.P. Morgan’s take, the data show that shoppers are still scouring stores for ways to save money.
 
“The general themes remain consistent this month: sales growth is being driven by price, private label is gaining both dollar and volume share, and volumes continue to decline overall (likely due in part to a migration from measured channels to unmeasured channels such as Walmart),” J.P. Morgan analysts said in a research note.
 
Oh, that last part might be a bit important – that bit about unmeasured channels.
 
Not all stores are measured by Nielsen and competitor IRI. And some of those stores are the ones consumers are heading to in droves in what many economists say is a U.S. recession. Think Walmart and dollar stores, for example.
 
Some food companies say they expect to ship fewer products after raising prices in a weak economy. Hershey said yesterday that it expects volume to fall, for example.
 
That said, sales are still up for many food makers, helped by sharp price increases put in place to combat commodity costs that soared to unprecedented levels.
 
But lower-priced private-label products (or store brands) are also gaining market share. So the balancing act continues as food makers try to keep prices high but at the same time, need to ensure the price hikes don’t result in too much lost volume.

In yet another twist, many commodity prices are now falling. That could lead to lower prices from store brands as retailers try to get more customers in the stores and lure them with lower prices.
 
Also in the basket:
 
Housing starts plunge
 
Mexico’s Modelo not looking to buy back stake
 
Sonic posts lower quarterly profit

 (Reuters photo)

Check Out how higher commodity costs offset the benefit of a higher prices at Hershey.

Back in August, Hershey announced a roughly 10-percent price increase in the United States as it tried to deal with higher costs for cocoa, corn sweetener, sugar and peanuts.

But those higher costs, which other food companies are also battling, offset additional revenue generated by the August price bump, Chief Executive David West said on Thursday.

West added during a conference call that the company’s overall premium chocolate segment — which includes brands like Bliss, Extra Dark and Cacao Reserve –  is slowing.

The maker of Hershey’s Kisses and Reese’s peanut butter cups posted quarterly earnings that were in line with Wall Street’s expectations but said it expects slower sales growth in 2009.

Maybe Halloween will bring some cheer for the candy maker?

 Also in the basket:

Cadbury sets focus on original chocolate factory

Nike sues Wal-Mart, alleges patent infringement

CVS extends Longs tender until Thursday night

US shoppers to constrain holiday spending–NRF