Block cheese prices continue to drop

Cheese

Average block cheese prices continued to drop last week on the Chicago Mercantile Exchange, averaging down from $1.58 the previous week to $1.56.

Cheese reached its 3-month high of $2 on Nov. 15, but continues to drop on slowing demand. This week's average is its lowest since early April.

Cheese prices closed at $1.56 Monday through Friday.

Wheat

Wheat inched a bit higher last week, averaging $8.38 on the Minneapolis Grain Exchange. Wheat was $8.33 the previous week, the crop's lowest price since mid-July.

Wheat closed at $8.27 Monday, $8.39 Tuesday, $8.41 Wednesday, $8.43 Thursday and $8.44 Friday.

Gasoline and diesel fuel

After dropping to its lowest level since February, gas prices increased a penny from last week. Today's nationwide average for regular unleaded fuel is $3.23, according to AAA and the Oil Price Information Service.

Prices are down from $3.30 a month ago, but remain up from this time last year when consumers were paying $3.04 at the pump.

Mid-range unleaded is $3.37, a bump from $3.35 last week, while today's premium unleaded price is $3.51, up a penny from $3.50 last week.

Diesel fuel prices are averaging $3.82, compared to $3.85 last week. The price of diesel fuel is down from $3.96 a month ago, and up from $3.29 a year ago.

Natural gas

Natural gas prices at most trading locations across the country fell or remained stable during the report week. The spot price at the Henry Hub fell 3 cents, from $3.08 per MMBtu last Wednesday, Dec. 14, to $3.05 per MMBtu yesterday, December 21.

Pizza company stocks

Pizza Hut parent Yum! Brands Inc. closed last week at $59.03, up from $57.70 the previous week. The company hit its 52-week high early in the day last Friday, at $59.17. Yum! traded as low as $46.40 in January.

Domino's closed last Friday at $33.87, an increase from $33.30 the previous week. DPZ hit its 52-week high of $35.00 two weeks ago. Shares remain substantially higher over this time last year when the company traded at $15.78.

Papa John's closed last week at $37.88, from $36.71 the previous week. PZZA hit its 52-week high earlier this month at $38.92. PZZA's 52-week low was last December when it traded at $25.83.

CEC Entertainment Inc., parent company of Chuck E. Cheese restaurants, closed out last week at $35.42, a climb from the previous Friday when it closed at $33.93. CEC hit its 52-week low of $27.42 in September. The company hit its 52-week high of $41.75 in July.

Pizza Inn closed Friday at $5.45, from $5.57 the previous week. PZZI hit its 52-week high of $6.60 earlier this month. PZZI traded as low as $1.86 a year ago.

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User Comments – Give us your opinion!
  • Michael Silvestri
    72009313
    I have been reading on this site about cheese prices dropping but according to my supplier, ANF, the price you indicate for a lb of cheese is not the price for Grande Part Skim Mozz. Would you please write, in the future what, the price per lb is for Grande Mozz cheese so I can see what you write about and what I am charged is accurate.
  • Alicia Kelso
    71539387
    Thanks for your feedback, Michael. The reason we post the weekly average price of cheddar block is because it affects the price of milk used to make cheese, which in the end determines the wholesale price of mozzarella. There are many factors that influence the cost of milk such as supply and demand, reduction in herd sizes, energy prices and weather. The best way to determine if you're being charged fairly by your supplier, then, is to reach out and compare with other pizza operators or check out the cost from other suppliers.

    I hope this information helps. Thanks for reading.

    Alicia Kelso
    Editor
    PizzaMarketplace.com
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