Why coffee drinkers are celebrating National Coffee Day

Consumers may be more in the mood to celebrate National Coffee Day today at their local Dunkin' Donuts (DNKN), Krispy Kreme (KKD), Peet's Coffee & Tea or Wawa because getting their java fix has gotten much cheaper in recent months. J.M. Smucker (SJM), the biggest U.S. roaster which makes Folger's and Dunkin' Donuts brews, announced in July that it would cut prices by 6 percent. Rival Kraft (KHC) followed suit with a 5.8 percent price cut for its Maxwell House and Yuban brands. Coffee prices have plunged more than 47 percent on the New York futures market to $1.20 per pound since their peak last year and don't appear to be headed up anytime soon, according to coffee analysts.