Cheese jumps more than 30 cents in a month

 
Sept. 2, 2014 | by Alicia Kelso

Cheese prices rose sharply last week and are more than 30 cents higher than they were just one month ago. Conversely, gas prices continued to tumble through the busy Labor Day holiday weekend.

Here's a glimpse at the market this week.

Cheese

Average block cheese prices jumped 7 cents last week on the Chicago Mercantile, averaging $2.30, from $2.23 the week prior. Cheese was $2.14 three weeks ago and $1.99 last month.

Prices last week were $2.26 Monday, $2.29 Tuesday, $2.30 Wednesday, $2.32 Thursday and $2.33 on Friday.

Wheat

The week's average for wheat was $6.13, down 2 cents from $6.15 the week prior. Wheat averaged close to $6.30 a month ago.

Last week's prices closed at $6.17 Monday, $6.12 Tuesday, $6.10 Wednesday, $6.12 Thursday and $6.15 on Friday.

Gasoline and diesel fuel

Monday's nationwide average for regular unleaded gasoline was $3.43 on Monday, even week over week and down from $3.51 a month ago. Consumers were paying $3.59 at the pump this time last year, according to AAA and the Oil Price Information Service. 

Mid-range unleaded was $3.63 on Monday, while premium unleaded price was $3.80.

The nationwide average for diesel fuel was $3.80 Monday, steady from the week prior. Diesel prices are down from $3.84 a month ago and $3.93 a year ago.

Natural Gas

Spot prices rose at most trading locations across the country for this report week (Aug. 20 to Aug. 27). The Henry Hub spot price rose from $3.85 per million British thermal unit (MMBtu) Aug. 20 to $3.99/MMBtu Aug. 27.

At the New York Mercantile Exchange (Nymex), the near-month (September 2014) contract rose from $3.823/MMBtu Aug. 20 to $3.957/MMBtu Aug. 27, when it expired.

Pizza company stocks

Shares in Pizza Hut parent Yum! Brands Inc. closed out last Friday at $72.31, down slightly from 72.41 the week prior. Yum’s 52-week high is $83.58. Its low is $64.08.

Domino's finished last week at $75.26, up from $74.03 the week prior. DPZ’s 52-week high is $80.61. Its low is $60.95 a year ago.

Papa John's finished at $39.42 last Friday, up slightly from $39.32 the week prior. PZZA’s 52-week high is $55. Its low is $33.27.

Pizza Inn turned in at $8.07, up from $8.03 the week prior and $7.99 two weeks ago. The company’s 52-week high is $9.09. Its low is $5.38.

Shares in Papa Murphy's closed at $8.43 Friday, down from $8.60 the week prior. In its fourth month on the NASDAQ, FRSH’s high/low is $12.10/$8.08, respectively.

Photo provided by Pixabay.


Topics: Cheese , Domino's Pizza , Equipment & Supplies , Food Cost Management , Papa John's , Papa Murphy's Take 'N' Bake Pizza , 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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