Cheese prices continue gradual decline

 
May 19, 2014 | by Alicia Kelso

After hitting all-time highs in recent weeks, cheese prices continue to come down a bit. Gas prices have also relaxed after spiking from the spring blend switch.

Here's a glimpse at the market this week:

Cheese

Cheese prices have fallen for three weeks in a row after reaching all-time highs earlier this year. They averaged $2 even on the Chicago Mercantile last week, down from $2.04 the week prior.

Prices are still about 40 cents higher than they were a year ago.

Last week, prices closed at $2.04 Monday and $1.99 Tuesday, Wednesday, Thursday and Friday.

Wheat

After a near-50-cent spike in wheat prices last week on the Minneapolis Grain Exchange, the average cost has come back down a bit, averaging $7.71 from $7.90 the week prior. Wheat was $7.28 three weeks ago and remains significantly higher than they were in the beginning of the year, around $6.02.

Last week, prices closed at $7.92 Monday, $7.90 Tuesday, $7.81 Wednesday, $7.55 Thursday and $7.39 on Friday.

Gasoline and diesel fuel

After weeks on the rise, the nationwide average price for regular unleaded fuel today is $3.64, down a penny from last week and three cents from two weeks ago. According to the AAA and the Oil Price Information Service, prices a month ago were $3.66.

Last year at this time, consumers were paying $3.64 at the pump.

Today's mid-range unleaded is $3.83, even from the week prior. Premium gas is $4 even, also steady from last week.

Diesel fuel prices are averaging $3.93, down a penny from $3.94 the week prior. The price of diesel fuel was $3.96 a month ago, and $3.88 a year ago.

Natural gas

Natural gas spot prices fell throughout the United States. The Henry Hub decreased by 42 cents per million British thermal units (MMBtu), moving from $4.83/MMBtu May 7 to $4.41 May 14.

At the New York Mercantile Exchange (Nymex), the June contract fell by 37 cents/MMBtu, beginning the report week at $4.740/MMBtu May 7 and settling at $4.367/MMBtu May 14.

Pizza company stocks

Shares of Pizza Hut parent Yum! Brands Inc. closed out last week at $74.81, down from $76.33 the week prior. The company hit a new 52-week high last month at $79.70. Its 52-week low was a year ago at $64.08.

Domino's finished last week at $71.53, a slight uptick from $71.20 the week prior. DPZ hit a new lifetime high in March at $80.61. The company's 52-week low was $55.75 a year ago.

Papa John's shares finished last week at $41.54, down from $42.06 the week prior. PZZA hit its 52-week high in March at $55. Its low of $31.18 was a year ago.

Pizza Inn Holdings closed out last week at $6.39, up slightly from $6.03 the week prior. The company's 52-week high was $9.09 a year ago. It traded as low as $4.47 in June 2013.

Papa Murphy's closed out its third week on the NASDAQ market under the FRSH symbol. The company finished Friday at $10.69, which was 20 cents lower than the week prior’s closing. Its high/low is $12.10 and $10.35, respectively.

Photo courtesy of Wikimedia.


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


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