Wheat prices continue downward spiral

 
June 26, 2011 | by Alicia Kelso

Cheese

Average block cheese prices rose slightly last week on the Chicago Mercantile Exchange, coming in at an average of $2.13. The previous week's average was $2.11.

Cheese prices closed at $2.13 even from Monday through Friday.

Wheat

Crop supportive weather continues to cause wheat prices to fall significantly after hitting above $10 earlier this month. Last week's average on the Minneapolis Grain Exchange was down to $8.66, down from the prior week's average of $9.37.

Wheat closed at $9 even Monday, $9.02 Tuesday, $8.60 Wednesday, $8.44 Thursday and $8.26 Friday.

Gasoline and diesel fuel

Monday's nationwide average for regular unleaded gasoline was $3.56, an 8-cent drop from $3.64 last week, according to AAA and the Oil Price Information Service.

Prices are also down from $3.79 a month ago, but remain up from this time last year, when consumers were paying $2.75 at the pump.

Mid-range unleaded is $3.70, while today's premium unleaded price is $3.83, down from last week's $3.91.

The nationwide average for diesel fuel is $3.92, a decrease from $3.97 last week. Diesel prices are also down from $4.02 a month ago, and remain up from $2.98 a year ago.

Natural Gas

Natural gas prices fell slightly at most market locations from Wednesday, June 15 to Wednesday, June 22. The Henry Hub price fell 10 cents from $4.52 per million Btu (MMBtu) last Wednesday to $4.42 per MMBtu yesterday.

Pizza company stocks

Shares in Pizza Hut parent Yum! Brands Inc. dipped Friday to $54.18 from the previous week's closing of $54.69. The company hit its 52-week high three weeks ago when shares were $56.26. Yum! traded at a 52-week low of $38.53 in July 2010.

Domino's hit its 52-week high as it finished at $25.07 Friday, a jump from $23.76 last week. Shares are also substantially higher over this time last year when the company traded as low as $10.99 in June 2010.

Papa John's finished at $32.59, an increase from last week's $32.13. The company hit its 52-week high three weeks ago at $34.12. Papa John's traded at a 52-week low of $22.78 in July 2010.

Shares in CEC Entertainment Inc., parent company of Chuck E. Cheese restaurants, jumped up to $39.69 from $38.87 the previous week. CEC traded as high as $40.90 in December 2010 and as low as $30.44 in August 2010.

California Pizza Kitchen closed at $18.46 Friday, down a penny from $18.47 the previous week. CPKI traded as high as $20.79 in May 2010 and as low as $13.19 in July 2010.

Pizza Inn hit a new 52-week high this week at $2.82, up from the previous 52-week high last week of $2.50. It traded as low as $1.77 in May 2010.


Topics: California Pizza Kitchen , Cheese , Chuck E. Cheese's Pizza , Domino's Pizza , Equipment & Supplies , Food & Beverage , Operations Management , Papa John's , Pizza Hut , Pizza Inn


Alicia Kelso / Alicia 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.
View Alicia Kelso's profile on LinkedIn

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