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.