Wheat, cheese prices inch up

 
Oct. 9, 2011 | by Alicia Kelso

Cheese

Average block cheese prices inched up a penny to $1.73 last week on the Chicago Mercantile Exchange, up from $1.72 the previous two weeks.

Cheese prices closed at $1.72 Monday, Tuesday and Wednesday, $1.74 on Thursday and $1.76 Friday.

Wheat

Wheat prices jumped a dime to $8.87 on the Minneapolis Grain Exchange, up from $8.77 the previous week. Wheat was as high as $9.57 in mid-September, but prices have responded to a higher than anticipated U.S. supply.

Wheat closed at $8.85 Monday, $8.62 Tuesday, $8.76 Wednesday, $8.95 Thursday and $9.19 Friday.

Gasoline and diesel fuel

A sharp decline in crude oil prices has sent gas prices down in the past month.

Today's nationwide average for regular unleaded gasoline is $3.39, down from $3.41 a week ago, according to AAA and the Oil Price Information Service.

Prices are also down from $3.66 a month ago, but remain up from this time last year, when consumers were paying $2.80 at the pump.

Mid-range unleaded dropped to $3.54 from $3.56 the previous week, while today's premium unleaded price is $3.67, down from $3.69 last week.

The nationwide average for diesel fuel is $3.79, compared to $3.82 last week. The price of diesel fuel is down from last month's $3.91 but up from this time last year when it cost $3.07.

Natural Gas

Like autumn leaves floating down to earth, natural gas prices dropped decidedly from their $4 support branch this past week. In a whirlwind of generally unsupportive market fundamentals, the Henry Hub price closed down 25 cents for the week to $3.63 per million British thermal units (MMBtu) on Oct. 5.

Pizza company stocks

The stock market dropped overall late last week, after a mixed jobs report and a European debt downgrade.

Pizza Hut parent Yum! Brands Inc. closed last week at $49.24, down from $49.39 the previous week. The company hit its 52-week high in August when shares were $56.72. Yum! traded as low as $46.40 in January.

Domino's closed last Friday at $26.63, down from $27.25 the week before. The company hit a new 52-week high in late September at $28.80. Shares remain substantially higher over this time last year when the company traded at $13.09 in October 2010.

Papa John's closed Friday at $30.29 Friday, a drop from $30.43 the previous week. The company hit its 52-week high in May at $34.27 and traded as low as $25.49 in October 2010.

CEC Entertainment Inc., parent company of Chuck E. Cheese restaurants, closed out last week at $28.79, a jump from $28.47 the previous Friday. CEC hit a new 52-week low of $27.42 two weeks ago. The company hit its 52-week high of $41.75 in July.

Pizza Inn stocks ended at $3.26 Friday, down slightly from $3.38 the previous week. Pizza Inn hit its 52-week high in July when it finished at $3.40. It traded as low as $1.83 in October 2010.

Photo provided by Geograph.

Read more about equipment and supplies.


Topics: Cheese , Chuck E. Cheese's Pizza , Domino's Pizza , Dough , Equipment & Supplies , 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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