Cheese prices jump 11 cents

 
Nov. 6, 2011 | by Alicia Kelso

Cheese

Average block cheese prices jumped more than a dime to $1.83 last week on the Chicago Mercantile Exchange.

The previous week’s average was $1.72.

Cheese prices closed at $1.78 Monday, $1.79 Tuesday, $1.83 Wednesday and $1.88 on both Thursday and Friday.

Wheat

Wheat prices dropped last week on the Minneapolis Grain Exchange, averaging $9.12, down from $9.17 the previous week.

Prices remain down from a month ago and are expected to stay lower after a recent USDA report released predicted bigger surpluses.

Wheat closed at $9.08 Monday, $9.05 Tuesday, $9.10 Wednesday, $9.17 Thursday and $9.23 Friday.

Gasoline and diesel fuel

Today's nationwide average for regular unleaded fuel is $3.40, down from $3.44 last week, according to AAA and the Oil Price Information Service.

Prices are steady from $3.39 a month ago, but are significantly up from this time last year, when consumers were paying $2.84 at the pump.

Mid-range unleaded is $3.55, from $3.58 last week, while today's premium unleaded price is $3.68, from $3.71 last week.

The nationwide average for diesel fuel is up to $3.90, from $3.88 last week. The price of diesel fuel is also up from last month's $3.79, and from this time last year when it cost $3.11.

Natural gas

The previous report week's increasing prices gave way to relatively consistent declines across a large part of the country over this report week. The Henry Hub spot price showed a slight increase over the weekend, but closed down 26 cents for the week to $3.39 per million British thermal units (MMBtu) on Nov. 2.

Pizza company stocks

Pizza Hut parent Yum! Brands Inc. closed last week at $53.98, down a bit from $54.14 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 $32.01, down slightly from $32.15 the previous week. DPZ hit its 52-week high in mid-October, at $32.25. 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 its new 52-week high of $35.54, from $34.17 the previous week. The company’s shares surged following a strong earnings report. 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 $34.04, up from $33.32 the previous Friday despite a mixed earnings report. 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 finished at $4.73 last week, up from $4.55 the previous week after news of the company’s expanded credit facility. PZZI hit its new 52-week high in mid-October at $4.90. This number came shortly after the company announced its expansion plans into the hot China market. 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 , Financial Management , Operations Management , Papa John's , Pizza Inn


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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