The average cost of wheat continued to fall last week and remained under $7 for the second week in a row. Conversely, cheese prices spiked after a month on a downward trajectory. Here's a glimpse at the market this week:
After falling for a month, cheese prices inched up again last week on the Chicago Mercantile, averaging $2.04, from $2.01 the week prior. Last week, prices closed at $2.06 Monday and Tuesday and $2.03 Wednesday, Thursday and Friday.
The average cost of wheat stayed under $7 for the second week in a row, averaging $6.90, from $6.93 the week prior and $7.14 two weeks ago.
Wheat was near the $8 mark a month ago, but remains significantly higher than it was in the beginning of the year, when the cost sat at around $6.02.
Last week, prices closed at $7.04 Monday, $6.99 Tuesday, $6.84 Wednesday, $6.82 Thursday and $6.84 on Friday.
Gasoline and diesel fuel
The nationwide average price for regular unleaded fuel is $3.66, up a penny from $3.65 a week ago. According to the AAA and the Oil Price Information Service, prices a month ago were $3.64.
Last year at this time, consumers were paying $3.61 at the pump.
Today's mid-range unleaded is $3.85, from $3.84 the week prior. Premium gas is $4.02, from $4.01.
Diesel fuel prices are averaging $3.89, down a penny from $3.90 last week. The price of diesel fuel was $3.93 a month ago, and $3.85 a year ago.
Natural gas prices posted slight overall declines during the report week (June 4 — June 11) at most market locations. The Henry Hub spot price fell from $4.57/MMBtu June 4 to $4.50/MMBtu June 11.
At the New York Mercantile Exchange (Nymex) the price of the front-month (July 2014) contract fell from $4.640/MMBtu June 4 to $4.508/MMBtu June 11. The price of the 12-month strip fell from $4.660/MMBtu June 4 to $4.556/MMBtu June 11.
Pizza company stocks
Shares of Pizza Hut parent Yum! Brands Inc. closed out last week at $78.77, down slightly from $79.11 the week prior. The company hit a new 52-week high last week at $80.20. Its 52-week low was a year ago at $64.08.
Domino's finished last week at $72.36, down from $73.31 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 $42.43, up slightly from $43.20 the week prior. PZZA hit its 52-week high in March at $55. Its low of $31.50 was a year ago.
Pizza Inn Holdings closed out last week at $6.13, up from $5.95 the week prior. The company's 52-week high was $9.09 a year ago. It traded as low as $4.86 last year.
Papa Murphy's closed out Friday at $8.58, down from $9.97 the week prior in just its second month on the NASDAQ under the FRSH symbol. Its high/low is $12.10 and $8.32, respectively.
Photo provided by Wikipedia.
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.