Cheese and wheat prices take a tumble

 
April 14, 2014 | by Alicia Kelso

Cheese prices took a much-anticipated tumble last week after months on the rise and all-time highs.

Conversely, prices at the pump are climbing, and are 12 cents higher than they were a month ago.

Here's a glimpse at the market this week:

Cheese

Cheese prices dropped 17 cents last week, offering up some long anticipated relief after months on the rise and record highs. They averaged $2.21 on the Chicago Mercantile, from $2.38 the week prior.

Prices remain nearly 60 cents higher than they were this time last year.

Last week, prices closed at $2.30 Monday, $2.26 Tuesday, $2.18 Wednesday, $2.16 Thursday and $2.17 on Friday.

Wheat

Wheat prices also dropped last week on the Minneapolis Grain Exchange, averaging $7.11, from $7.30 the week prior.

Wheat prices were as low as $6.02 at the beginning of the year.

Last week, prices closed at $7.22 Monday, $7.23 Tuesday, $7.12 Wednesday and $7.01 Thursday and Friday.

Gasoline and diesel fuel

The nationwide average price for regular unleaded fuel today is $3.63, up 6 cents from $3.57 the previous week. According to the AAA and the Oil Price Information Service, prices a month ago were $3.51

Last year at this time, consumers were paying $3.53 at the pump.

Today's mid-range unleaded is $3.81, from $3.75 the week prior. Premium gas is $3.98, from $3.92 the week prior.

Diesel fuel prices are averaging $3.95, down a penny from $3.96 the week prior. The price of diesel fuel was $4 a month ago, and $3.96 a year ago.

Natural gas

Spot prices rose slightly at most hubs for the report week (April 2 to April 9) and went up significantly at the benchmark Henry Hub, following declines the previous week. The Henry Hub spot price rose from $4.35/MMBtu April 2 to $4.66/MMBtu April 9.

At the New York Mercantile Exchange, the May 2014 contract increased from $4.364/MMBtu on April 2 to $4.586/MMBtu April 9.

Pizza company stocks

Shares of Pizza Hut parent Yum! Brands Inc. closed out last week at $75.19, down a bit from $76.44 the week prior. The company hit a new 52-week high in November, at $78.68. Its 52-week low was a year ago at $63.16.

Domino's finished last week at $74.29, down from $77.62 the week prior. DPZ hit a new lifetime high a month ago at $80.61. The company's 52-week low was $49.09 a year ago.

Papa John's shares finished last week at $48.34, down from $51.46 the week prior. PZZA hit its 52-week high a month ago at $55. Its low of $29.50 was a year ago.

Pizza Inn Holdings closed out last week at $5.95, down from $6.06 the week prior. The company's 52-week-high was $9.18 in May. It traded as low as $4.47 a year ago.

Photo provided by Wikipedia.


Topics: Cheese , Domino's Pizza , Equipment & Supplies , Food Cost Management , Operations Management , Papa John's , Pizza Hut , Pizza Inn


Alicia Kelso / Alicia has been a professional journalist for 15 years. Her work with QSRweb.com and PizzaMarketplace.com has been featured in publications around the world, including Good Morning America, Voice of Russia radio, Consumerist.com and Franchise Asia magazine.
View Alicia Kelso's profile on LinkedIn

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