Cheese prices finally show some relief

 
May 5, 2014 | by Alicia Kelso

After months on the rise, cheese prices finally showed some relief last week, closing out Friday 15 cents lower than the prior week's average.

On the stock market, Papa Murphy's made its debut on Friday, and reached $12.10.

Here's a glimpse at the market this week:

Cheese

Cheese prices finally eased up last week after holding steady for three weeks and hitting record highs earlier this year. They averaged $2.13 on the Chicago Mercantile, down from $2.22 the week prior.

Prices are still about 50 cents higher than they were a year ago.

Last week, prices closed at $2.20 Monday, $2.17 Tuesday, $2.13 Wednesday, $2.10 Thursday and $2.07 on Friday.

Wheat

Wheat prices rose sharply last week on the Minneapolis Grain Exchange, averaging $7.53, from $7.28 the week prior.

Wheat prices remain significantly higher than they were at the beginning of the year, around $6.02.

Last week, prices closed at $7.50 Monday, $7.47 Tuesday, $7.57 Wednesday, $7.48 Thursday and $7.63 on Friday.

Gasoline and diesel fuel

After weeks on the rise, the nationwide average price for regular unleaded fuel today is $3.67, down slightly from $3.69 the previous week. According to the AAA and the Oil Price Information Service, prices a month ago were $3.57.

Last year at this time, consumers were paying $3.52 at the pump.

Today's mid-range unleaded is $3.85, from $3.87 the week prior. Premium gas is $4.02, from $4.04 the week prior.

Diesel fuel prices are averaging $3.95, down from $3.96 the week prior. The price of diesel fuel was $3.96  a month ago, and $3.87 a year ago.

Natural gas

Natural gas spot prices were generally flat for the report period, increasing by a few cents in some locations. The Henry Hub spot price was nearly flat, changing from $4.79/MMBtu April 23 to $4.78 April 30.

At the New York Mercantile Exchange, the May near-month contract gained just over a nickel, beginning the week at $4.730/MMBtu and settling at $4.795/MMBtu on April 28, when the June contract moved to near-month position. The June contract gained about 7 cents over the report week, from $4.747/MMBtu April 23 to $4.815 April 30.

Pizza company stocks

Shares of Pizza Hut parent Yum! Brands Inc. closed out last week at $76.25, down slightly from $76.79 the week prior. The company hit a new 52-week high two weeks ago at $79.70 after a positive Q1 earnings report. Its 52-week low was a year ago at $64.08.

Domino's finished last week at $71.80, a drop from $75.09 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 $44.29, down from $46.50 the week prior. PZZA hit its 52-week in March at $55. Its low of $31.18 was a year ago.

Pizza Inn Holdings closed out last week at $5.84, up from $5.68 the week prior. The company's 52-week-high was $9.18 in May. It traded as low as $4.47 a year ago.

Papa Murphy's made its debut Friday on the NASDAQ market under the FRSH symbol. The company opened up its first day at $11 even, and reached $12.10 at one point.

Photo provided by Wikimedia.


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


Alicia Kelso / Alicia Kelso 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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