Cheese prices jump as wheat drops

 
July 24, 2011 | by Cherryh A. Butler

Cheese

Average block cheese prices jumped up 9 cents last week on the Chicago Mercantile Exchange to $2.14. The previous week's average was $2.05.

Cheese prices closed at $2.12 Monday, $2.14 Tuesday, $2.14 Wednesday, $2.14 Thursday and $2.15 Friday.

Wheat

Wheat prices came in at $8.35 last week on the Minneapolis Grain Exchange, a 9-cent drop from last week's $8.24. The increase comes after last week's 30-cent drop from the previous week.

Wheat closed at $8.22 Monday, $8.33 Tuesday, $8.52 Wednesday, $8.33 Thursday and $8.38 Friday.

Gasoline and diesel fuel

Monday's nationwide average for regular unleaded gasoline was $3.69, a 1-cent increase over last week's $3.64, according to AAA and the Oil Price Information Service.

Prices are also up from $3.59 a month ago and remain more than a dollar higher than last year, when consumers were paying $2.74 at the pump.

Mid-range unleaded is $3.82, a 2-cent increase from last week's price of $3.80, while today's premium unleaded price is $3.94, a 2-cent increase over last week's $3.92.

The nationwide average for diesel fuel is $3.96, 2 cents higher than last week's price of $3.94. Although Diesel prices are down from $3.96 a month ago, they remain up from $2.95 a year ago.

Natural Gas

Responding to extremely hot weather this week, natural gas prices moved up at market locations across the lower 48 States. The spot price at the Henry Hub increased 21 cents from $4.43 per million Btu (MMBtu) last Wednesday, July 13, to $4.64 per MMBtu yesterday, July 20.

Pizza company stocks

Pizza Hut parent Yum! Brands Inc. dropped to $54.37 from last week's $55.12. The company hit its 52-week high three weeks ago when shares were $56.72. Yum! traded at a 52-week low of $38.53 in July 2010.

Domino's enjoyed an upswing, finishing this week at $25.91, a 70-cent increase over last week's $25.31. The company hit its 52-week high a couple weeks ago when shares were at $26.07. Shares are substantially higher over this time last year when the company traded as low as $12.21 in July 2010.

Papa John's dropped again this week coming in at $31.59, down from last week's $31.91. The company hit its 52-week high six weeks ago at $34.12. Papa John's traded at a 52-week low of $22.78 in July 2010.

CEC Entertainment Inc., parent company of Chuck E. Cheese restaurants, hit a new 52-week high as it closed Friday at $41.32, up from last week's $41.07. CEC traded as low as $30.44 in August 2010.

Pizza Inn jumped 3 cents from last week's $2.85 to $2.88. Its 52-week high was two week ago when it finished at $3.26. It traded as low as $1.86 in August 2010.

For more information, click on the Operations Management Research Center.


Topics: California Pizza Kitchen , Cheese , Chuck E. Cheese's Pizza , Domino's Pizza , Dough , Operations Management , Papa John's , Pizza Hut , Trends / Statistics


Cherryh A. Butler / Cherryh Butler has been a reporter for nearly 10 years, writing on a variety of topics ranging from the restaurant industry to business and health and fitness news. Before joining FastCasual.com as editor, she oversaw KioskMarketplace.com and PizzaMarketplace.com and contributed to RetailCustomerExperience.com. She's also written for several daily newspapers, magazines and websites, including The Kansas City Star and American Fitness magazine.
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