MillerCoors, the U.S. joint venture between Molson Coors Brewing Co and SABMiller PLC , expects costs for commodities such as fuel and aluminum to moderate as 2010 progresses.

MillerCoors Chief Executive Leo Kiely told an investor meeting that he is looking for cost of goods sold per barrel of beer to increase at a mid-single-digit rate in the first half of 2010 with moderation in the back half of the year.

(Reporting by Martinne Geller. Editing by Robert MacMillan)