Wheat prices drop under $7

 
Nov. 25, 2013 | by Alicia Kelso

Wall Street has had quite a run this year, and continues to hit new milestones. The Dow Jones, for example, finished above 16,000 for the first time last week. Papa john's has gotten a lift from the bull, trading at a new lifetime high with shares up nearly 50 percent year-to-date.

Meanwhile, wheat prices have dropped below the $7 mark and are more than 50 cents lower than they were just one month ago.

Cheese

Cheese inched up a penny last week on the Chicago Mercantile, averaging $1.82, from $1.81 the week prior.

Prices closed at $1.82 Monday through Thursday, and $1.83 on Friday.

Wheat

Wheat prices continued to fall last week on the Minneapolis Grain Exchange, averaging $6.96, from $7 even the week prior. Wheat was more than $7.50 a month ago.

Prices closed at $6.95 Monday, $6.97 Tuesday and Wednesday, $6.96 Thursday and $6.97 on Friday.

Gasoline and diesel fuel

The nationwide average price for regular unleaded fuel today is $3.28, a jump from $3.20 last week. According to the AAA and the Oil Price Information Service, prices a month ago were $3.30.

Last year at this time, consumers were paying $3.42 at the pump.

Today's mid-range unleaded is $3.45, from $3.38 the week prior. Premium gas is $3.62, from $3.56 last week.

Diesel fuel prices are averaging $3.82, from $3.81 the week prior. The price of diesel fuel was $3.86 a month ago and $4.01 last year.

Natural gas

Natural gas spot prices fell slightly over most of the country, with the exception of prices in the Northeast. The Henry Hub spot price declined from $3.68/MMBtu Nov. 13 to $3.62/MMBtu Nov. 20.

At the New York Mercantile Exchange, however, the December 2013 contract rose from $3.566/MMBtu Nov. 13 to $3.674 Nov. 20.

Pizza company stocks

Shares of Pizza Hut parent Yum! Brands Inc. closed out last week at $74.92, up from $73.34 the week prior, and $69.80 two weeks ago. The company hit a new 52-week high earlier in the day on Friday, at $78.68. Its 52-week low was in early February, at $59.68.

Domino's finished last week at $69.15, down slightly from $69.15 the week prior. DPZ hit a new 52-week high earlier in the week, at $70.10. Its 52-week low was $40.30 a year ago.

Papa John's shares jumped to $85.34, from $78.44 the week prior and nearly $10 higher than two weeks ago, at $75.96. The company hit an all-time high earlier in the week, at $86.55. Its 52-week low was $49.88 a year ago.

CEC Entertainment Inc., parent company of Chuck E. Cheese restaurants, closed out last week at $46.53, up from $45.34 the week prior. The company hit a fresh 52-week high earlier in the week at $47.83. Its low was a year ago at $28.95.

Pizza Inn Holdings closed out last week at $8.69, up from $8.49 the week prior. The company's 52-week high was $9.18 in May. It traded as low as $3.03 a year ago.

Read more about supply chain news.

Photo provided by Wikimedia.


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


Alicia Kelso / Alicia Kelso 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

Related Content


Latest Content


comments powered by Disqus

 

TRENDING

 

WHITE PAPERS