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As reported by PizzaMarketplace blogger and Pizza.com president Ed Zimmerman, cheese prices have continued their ascension – this time to $1.60 per pound. But if his predictions are correct, they won't be sustainable at much higher prices.
Block cheese prices increased again last week on the Chicago Mercantile Exchange, averaging just under $1.60 per pound, up 5 cents from the previous week's average of $1.55 per pound. Prices closed at $1.58 per pound Monday, and $1.60 the rest of the week.
Cheese prices are up 37 percent compared with last year, when they averaged $1.17 per pound.
Prices for wheat on the Minneapolis Grain Exchange closed at $6.29 per bushel last Friday, a 17 cent increase from $6.12 the previous Friday.
Wheat prices closed at just over $6.03 on Monday, $6.02 on Tuesday, $6.14 per bushel Wednesday, and $6.23 per bushel Thursday.
Gasoline and diesel fuel
The nationwide average for regular unleaded gasoline was $2.74 per gallon July 26, according to AAA and the Oil Price Information Service, up 2 cents from the previous week. Prices are relatively flat from an average of $2.75 per gallon a month ago and up 10 percent from an average of $2.49 per gallon this time last year. Mid-range unleaded currently averages $2.91 per gallon while premium unleaded as of July 26 stood at $3.02 per gallon. The nationwide average price for diesel fuel stood at $2.95 per gallon July 26, flat from the previous week. Diesel prices are up 16 percent from an average of $2.55 per gallon this time last year.
Natural gas prices rose across market locations in the lower 48 States during the report week. The Henry Hub natural gas spot price rose 31 cents, or 7 percent, during the week, averaging $4.70 per million Btu (MMBtu) as of July 21.
Pizza company stocks
Shares in Pizza Hut parent Yum! Brands Inc. closed at $41.62 on July 23, up 42 cents compared with the previous week's close of $41.20. YUM traded at a 52-week high of $44 in April 2010 and a 52-week low of $32.49 in Oct 2009.
Domino's closed at $13.20, up 43 cents compared with the previous Friday's close of $12.77. DPZ has traded as high as $16.32 in April 2010 and as low as $7.09 in August 2009, over the past 52 weeks.
Papa John's stock closed at $25.93, up 62 cents compared with the previous Friday's close of $25.31. PZZA traded at a 52-week high of $28.84 in May 2010 and a 52-week low of $21.44 in December 2009.
Shares in CEC Entertainment Inc., parent company of Chuck E. Cheese restaurants, closed at $35.99, down 60 cents compared with the previous week's close of $36.59. CEC traded at a 52-week high of $41.79 in April 2010 and a 52-week low of $24.69 in October 2009.
California Pizza Kitchen closed at $16.59 on July 23, up 95 cents from the previous week's close of $15.64 CPKI traded as high as $22.92 in April 2010 and as low as $12.29 in December 2009.
Pizza Inn closed at $1.85 on July 23, flat from the previous week's close of $1.86. PZZI traded at a 52-week high of $2.20 in April 2010 and a 52-week low of $1.50 in December 2009.
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