Average wheat prices plummet

Sept. 9, 2013

What prices are hovering near the $7 mark, their lowest average in years.

Meanwhile, gas prices have tempered a bit after a big jump last week stemming from tension in Syria.


Average block cheese prices jumped another 5 cents last week on the Chicago Mercantile, averaging $1.78, from $1.73 the week prior and $1.68 two weeks ago.

Cheese averaged $1.90 in the spring.

Cheese markets closed at $1.78 Tuesday through Thursday and $1.81 on Friday. The markets were closed Monday due to the Labor Day holiday.


Wheat prices tumbled 20 cents last week on the Minneapolis Grain Exchange, averaging $7.07, from $7.27 the week prior.

A year ago, wheat was averaging above $9.

Last week, wheat closed at $7.03 Tuesday, $7.15 Wednesday, $7.06 Thursday and $7.07 on Friday.

Gasoline and diesel fuel

The nationwide average price for regular unleaded fuel Monday was $3.57, down slightly from $3.59 the week prior. According to the AAA and the Oil Price Information Service, prices a month ago were $3.56.

Last year at this time, consumers were paying $3.82 at the pump.

Monday's mid-range unleaded was $3.73, from $3.75 the week prior. Premium gas is $3.89, from $3.92.

Diesel fuel prices are averaging $3.94, up a penny from $3.93 last week. The price of diesel fuel was $3.87 a month ago and $4.11 a year ago.

Natural gas

Nationwide natural gas hub prices grew moderately over the report week (Aug. 28-Sept. 4), which included the Labor Day holiday. The Henry Hub spot price closed
Sept. 4 at $3.68 per million British thermal units (MMBtu), up 14 cents per MMBtu from the beginning of the report week.

At the New York Mercantile Exchange (Nymex), the price of the October 2013 contract increased 10.1 cents, from $3.582 per MMBtu Aug. 28 to $3.683 Sept. 4.

Pizza company stocks

Shares of Pizza Hut parent Yum! Brands Inc. closed last week at $69.84, down from $70.55 as China sales continue to struggle, dropping 10 percent in August. The company's 52-week low was in early February at $59.68. The company hit a new 52-week high of $75.13 three weeks ago.

Domino's finished last week at $62.09, up slightly from $62.05 the week prior. DPZ hit its 52-week high in July at $64.70. Its 52-week low was $33.67 a year ago.

Papa John's finished Friday at $68.17, a drop from $69.63 the week prior. The company hit a new 52-week high in August at $71.72. The company hit its 52-week low of $46.42 a year ago.

CEC Entertainment Inc., parent company of Chuck E. Cheese restaurants, closed out last week at $41.87, up from $41.78 the week prior. The company's 52-week high was in July at $45.66. Its low was a year ago at $28.95.

Pizza Inn closed out last week at $7.44, up from $7.38 the week prior. The company's 52-week high was $9.18 in May. It traded as low as $2.47 a year ago.

Read more about supply chain news.


Topics: Cheese , Chuck E. Cheese's Pizza , Domino's Pizza , Equipment & Supplies , Operations Management , Papa John's , Pizza Hut , Pizza Inn

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