Cheese remains below $2 for second week in a row

 
July 14, 2014 | by Alicia Kelso

After hitting record-high prices earlier this year, cheese has tempered a bit and is below $2 for the second week in a row. Gas prices also let up today after hitting 6-year highs heading into the Fourth of July travel weekend.

Here's a glimpse at the market this week:

Cheese

Cheese prices remained below $2 for the second week in a row last week on the Chicago Mercantile, averaging $1.95, from $1.97 the week prior.

Last week’s prices closed at $1.95 on Monday, $1.95 Tuesday, $1.94 Wednesday, $1.95 Thursday and $1.97 on Friday.

Wheat

The cost of wheat rose slightly last week after weeks of declines, averaging $6.65 on the Minneapolis Grain Exchange, from $6.79 the week prior.

Wheat was near the $8 mark last quarter and was around $6.02 in the beginning of the year.

Last week, prices closed at $6.57 Monday, $6.52 Tuesday, $6.40 on Wednesday and Thursday, and $7.37 on Friday.

Gasoline and diesel fuel

The nationwide average price for regular unleaded fuel is down to $3.61, from $3.65 last Monday, after prices jumped ahead of the Fourth of July holiday. According to the AAA and the Oil Price Information Service, prices a month ago were also $3.65.

Last year at this time, consumers were paying $3.60 at the pump.

Today's mid-range unleaded is $3.80, a drop from $3.84 the week prior. Premium gas is $3.97, from $4.01.

Diesel fuel prices are averaging $3.88, down a penny from $3.89 the week prior. The price of diesel fuel was $3.89 a month ago, and $3.84 a year ago.

Natural Gas

Natural gas prices decreased during the report week (July 2 to July 9) at most market locations for the third week in a row. The Henry Hub spot price decreased from $4.39 per million British thermal units (MMBtu) July 2 to $4.15/MMBtu July 9.

At the New York Mercantile Exchange (Nymex), the August 2014 contract began the report week on July 2 at $4.357/MMBtu, decreasing to $4.170/MMBtu by the end of trading July 9, an 18.7-cent/MMBtu decline. The price of the 12-month strip also decreased, from $4.289/MMBtu July 2 to $4.152/MMBtu July 9.

Pizza company stocks

Shares of Pizza Hut parent Yum! Brands Inc. closed out last week at $82.47, up from $81.92 the week prior. Yum! hit another fresh 52-week high earlier last week, at $83.43. Its 52-week low was a year ago at $64.08.

Domino's finished last week at $73.70, up slightly from $73.42 the week prior. DPZ hit a new lifetime high in March at $80.61. The company's 52-week low was $58.67 a year ago.

Papa John's shares finished last week at $42.02, down slightly from $42.67 the week prior. PZZA hit its 52-week high in March at $55. Its low of $32.78 was a year ago.

Pizza Inn Holdings closed out last week at $5.97, down from $6.19 the week prior. The company’s 52-week high was $9.09 a year ago. It also traded as low as $5.38 a year ago.

Papa Murphy's closed out Friday at $8.82, a big drop from $9.78 the week prior. In its third month on the NASDAQ, FRSH’s high/low is $12.10 and $8.32, respectively.

Photo provided by Wikipedia.

 


Topics: Cheese , Domino's Pizza , Equipment & Supplies , Food Cost Management , Operations Management , Papa John's , Papa Murphy's Take 'N' Bake Pizza , 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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