Cheese prices drop below $2

 
Nov. 19, 2012 | by Alicia Kelso

Cheese prices dropped below $2 for the first time since September. Wheat and gas prices also fell slightly last week.

The stock market rebounded from an uncertain election week, however Papa John's took a big hit after a lawsuit was filed claiming the chain sent 500,000 illegal text messages to customers.

Cheese

Average block cheese prices dropped to $1.85 last week on the Chicago Mercantile Market, from $2.02 the week prior. This is the first time cheese has averaged less than $2 since September.

Prices closed at $1.85 Monday and Tuesday, $1.91 Wednesday, $1.82 Thursday and $1.82 Friday.

Wheat

Wheat prices also fell last week, averaging $9.19 on the Minneapolis Grain Exchange, from $9.51 the week prior. Wheat remains nearly $2 higher than it was in the summer, when prices averaged $7.49.

Prices closed at $9.24 Monday, $9.22 Tuesday, $9.23 Wednesday, $9.20 Thursday and $9.09 Friday.

Gasoline and diesel fuel

Today's nationwide average for regular unleaded fuel is $3.41, down from $3.43 last week.

According to the AAA and the Oil Price Information Service, prices a month ago were $3.69. Last year at this time, consumers were paying $3.37 at the pump.

Today's mid-range unleaded is $3.58, from $3.61 last week, while today's premium gas is $3.73, from $3.76.

Diesel fuel prices also fell slightly, averaging $3.99, from $4 last week. The price of diesel fuel is down from $4.12 last month and is even from $3.99 last year.

Natural gas

Natural gas prices generally registered overall increases for the report week (Nov. 7-Nov. 14) at many of the country's trading locations. The Henry Hub price dipped during the early portion of the reporting period before rebounding to close at $3.66 per million British thermal units (MMBtu) Nov. 14 (up 19 cents per MMBtu for the week).

The natural gas futures market trended higher over most of the week. At the New York Mercantile Exchange (NYMEX), the December 2012 natural gas contract gained 18.2 cents per MMBtu to close at $3.760 per MMBtu Nov. 14.

Pizza company stocks

Pizza Hut parent Yum! Brands Inc. closed last week at $71.89, up from $71.14 the week prior. The company hit its 52-week high in May at $74.44. Its 52-week low is $52.54 from a year ago.

Domino's closed last Friday at $40 even, from $39.84 the week prior. The company's 52-week high was $42.21 in April. Shares remain higher over this time last year when the company traded at $28.17.

Papa John's fell to $47.05, from $49.73 the week prior. Shares dropped after news broke of a lawsuit claiming that the chain sent unsolicited text messages to customers. PZZA hit its 52-week high at $56.41 after a strong Q2 earnings report in early August. The company hit its 52-week low of $35.21 a year ago.

CEC Entertainment Inc., parent company of Chuck E. Cheese restaurants, closed out last week at $30.02, a drop from $31.74 the week prior. The company's 52-week high was $40.01 in March. Its 52-week low was $28.23 a year ago.

Pizza Inn climbed to $3.14 last week, from $2.56 the week prior, after naming a new CEO earlier this month. PZZI hit its 52-week high of $7.07 in December and traded as low as $2.18 a year ago.

Read more about equipment and supplies.


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


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

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