Cheese prices hit 3-month high

 
Nov. 20, 2011 | by Alicia Kelso

Cheese

Average block cheese prices continued to climb last week on the Chicago Mercantile Exchange, averaging $1.95, from $1.90 the week before.

Cheese reached its 3-month high of $2 on Nov. 15, but is expected to drop on slowing demand.

Cheese prices closed at $1.96 Monday, $2 Tuesday and Wednesday, $1.98 Thursday, and $1.83 Friday.

Wheat

Wheat prices dropped to $9.26 last week on the Minneapolis Grain Exchange, from $9.40 the previous week.

Wheat closed at $9.27 Monday, $9.31 Tuesday, $9.33 Wednesday, $9.25 Thursday and $9.17 Friday.

Gasoline and diesel fuel

Today's nationwide average for regular unleaded fuel is $3.35, down from $3.41 last week, according to AAA and the Oil Price Information Service.

Prices are down slightly from $3.46 a month ago, but are significantly up from this time last year, when consumers were paying $2.87 at the pump.

Mid-range unleaded is $3.49, from $3.56 last week, while today's premium unleaded price is $3.63, from $3.70.

The nationwide average for diesel fuel is currently at $3.98, from $3.96 last week. The price of diesel fuel is up from last month's $3.84, and from this time last year when it cost $3.19.

Natural gas

A confluence of unsupportive market conditions served to undermine gas prices at all pricing points during the week. The Henry Hub price closed down 44 cents for the week to $3.11 per million British thermal units (MMBtu) on Nov. 16.

Pizza company stocks

Pizza Hut parent Yum! Brands Inc. closed last week at $53.84, a drop from $55.81 the previous week. The company hit its 52-week high in August when shares were $56.72. Yum! traded as low as $46.40 in January.

Domino's closed last Friday at $32.50, up from $32.37 the previous week. DPZ hit its 52-week high last Tuesday, at $33.33. Shares remain substantially higher over this time last year when the company traded at $13.98 in November 2010.

Papa John's closed last week at $36.36, down from $36.50 the prior week, which was the company's 52-week high. PZZA's shares remain strong after a favorable earnings report three weeks ago. PZZA's 52-week low was last November, at $25.00.

CEC Entertainment Inc., parent company of Chuck E. Cheese restaurants, closed out last week at $33.58, a drop from $35.03 the previous Friday. CEC hit its 52-week low of $27.42 in September. The company hit its 52-week high of $41.75 in July.

Pizza Inn closed at $5.43 Friday, from $6 the previous Friday, its 52-week high. The recent boost came after a strong Q1 earnings report and news of the company's expanded credit facility to grow its Pie Five concept. PZZI traded as low as $1.88 in November 2010.

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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