Burger King CFO sees lower commodity prices ahead

LOS ANGELES (Reuters) - Burger King Holdings Inc (BKC.N) said on Thursday commodity prices appear to have peaked in July and it expects its commodity costs over the next six months to decline 2 percent to 3 percent from current levels.

"The general economy is likely to support a decline in food cost," Burger King Chief Financial Officer Ben Wells said in a conference calls with analysts.

U.S. farmers are expected to produce the second largest grain crop, but demand should still remain high, he said.

"Over the next six months we expect our commodity cost to decline 2 to 3 percent from where they are today, but still up 5 to 7 percent over the prior year," Wells said.

(Reporting by Lisa Baertlein, editing by Gerald E. McCormick)