Wheat, cheese prices hold steady

 
April 28, 2014 | by Alicia Kelso

After months of rising commodities prices, wheat and cheese prices have remained relatively stable for the past two weeks.

Conversely, gas prices across the country continue to rise and are above $4 in some markets. The average price of a gallon is at a 13-month high.

Here's a glimpse at the market this week:

Cheese

Cheese prices remained relatively steady for the third week in a row, averaging $2.22 last week, up a penny from $2.21 the two weeks prior.

Prices are about 20 cents lower than they were a month ago, and are about 60 cents higher than this time last year.

Last week, prices closed at $2.25 Monday, $2.22 Tuesday, and $2.21 Wednesday, Thursday and Friday.

Wheat

Wheat prices also remained steady, averaging $7.28 last week on the Minneapolis Grain Exchange, from $7.28 the week prior.

Wheat prices remain significantly higher than they were at the beginning of the year, around $6.02.

Last week, prices closed at $7.14 Monday, $7.20 Tuesday, $7.24 Wednesday, $7.36 Thursday and $7.47 on Friday.

Gasoline and diesel fuel

The nationwide average price for regular unleaded fuel today is $3.69, up 3 cents from $3.66 the previous week. According to the AAA and the Oil Price Information Service, prices a month ago were $3.54.

Last year at this time, consumers were paying $3.50 at the pump.

Today's mid-range unleaded is $3.87, from $3.84 the week prior. Premium gas is $4.04, from $4.01 the week prior.

Diesel fuel prices are averaging $3.96, up from $3.95 the week prior. The price of diesel fuel was $3.97 a month ago, and $3.88 a year ago.

Natural gas

Natural gas spot prices increased at almost all market locations outside of the Northeast and the Midwest. The Henry Hub spot price increased by $0.17/MMBtu from $4.62/MMBtu April 16 to $4.79/MMBtu April 23.

At the New York Mercantile Exchange (Nymex), the price of the near-month futures contract rose from $4.530/MMBtu April 16 to $4.730/MMBtu April 23.

Pizza company stocks

Shares of Pizza Hut parent Yum! Brands Inc. closed out last week at $76.79, down slightly from $76.86 the week prior. The company hit a new 52-week high earlier in the week at $79.70 after a positive Q1 earnings report. Its 52-week low was a year ago at $64.08.

Domino's finished last week at $75.09, up slightly from $74.97 the week prior. DPZ hit a new lifetime high last month at $80.61. The company's 52-week low was $52.29 a year ago.

Papa John's shares finished last week at $46.50, down from $48.46 the week prior. PZZA hit its 52-week high last month at $55. Its low of $31 was a year ago.

Pizza Inn Holdings closed out last week at $5.68, down from $5.78 the week prior. The company's 52-week-high was $9.18 in May. It traded as low as $4.47 a year ago.

Photo provided by Wikipedia.


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