Wheat prices drop after weeks of gains

 
April 7, 2014 | by Alicia Kelso

Cheese prices finally seem to have stabilized after months on the rise and flirting with all-time highs. Wheat prices also fell a bit this week after two weeks of spikes.

Here's a glimpse at the market this week.

Cheese

Cheese prices remained stable last week, averaging $2.38, even from the week prior on the Chicago Mercantile. Cheese prices remain near all-time highs and are about 80 cents higher than they were last year.

Last week, prices closed at $2.38 Monday, Tuesday and Wednesday, $2.42 Thursday and $2.35 on Friday.

Wheat

Wheat prices relaxed a bit last week on the Minneapolis Grain Exchange, averaging $7.30, from $7.53 the week prior.

Wheat prices were as low as $6.02 at the beginning of the year.

Last week, prices closed at $7.42 Monday, $7.35 Tuesday, $7.22 Wednesday, $7.30 Thursday and $7.21 on Friday.

Gasoline and diesel fuel

The nationwide average price for regular unleaded fuel today is $3.57, up 2 more cents from $3.55 the previous week. According to the AAA and the Oil Price Information Service, prices a month ago were $3.48.

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

Today's mid-range unleaded is $3.75, from $3.73 the week prior. Premium gas is $3.92, from $3.90 the week prior.

Diesel fuel prices are averaging $3.96, down a penny from $3.97 the week prior. The price of diesel fuel was $4.01 a month ago, and $3.99 a year ago.

Natural gas

Spot prices fell at most market locations during the report week (March 26 to April 2). The Henry Hub spot price fell from $4.42/MMBtu March 26 to $4.35/MMBtu April 2.

At the New York Mercantile Exchange (Nymex), the May 2014 contract decreased slightly from $4.395/MMBtu at the beginning of the report week to $4.364/MMBtu April 2.

Pizza company stocks

Shares of Pizza Hut parent Yum! Brands Inc. closed out last week at $76.44, up from $73.20 the week prior. The company hit a new 52-week high in November, at $78.68. Its 52-week low was a year ago at $63.16.

Domino's finished last week at $77.62, up from $75.26 the week prior. DPZ hit a new lifetime high three weeks ago at $80.61. The company's 52-week low was $49.09, a year ago. Wall Street publication The Motley Fool featured Domino's rise in the past few quarters and attributed the growth to its international ambitions and technology initiatives.

Papa John's shares finished last week at $51.46, down slightly from $51.78 the week prior. PZZA hit its 52-week high three weeks ago at $55. Its low of $29.50 was a year ago.

Pizza Inn Holdings closed out last week at $6.06, up from $5.58 the week prior. The company's 52-week-high was $9.18 in May. It traded as low as $4.12 a year ago.


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 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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