Wheat prices on weeks-long high streak

 
July 11, 2010 | by Jennifer Litz

Cheese

Block cheese prices shot up on the Chicago Mercantile Exchange during the short holiday week, averaging just above $1.50 per pound, up 10 cents from the previous week's average. Prices closed at  $1.48 on Tuesday and Wednesday, $1.52 on Thursday and $1.53 Friday.      

Cheese prices are up 34 percent compared with last year, when they averaged $1.12 per pound.  

Wheat  

Prices for wheat on the Minneapolis Grain Exchange closed at just under $5.55 per bushel last Friday, a 26-cent run-up from the previous Friday's close of $5.29 (and about 53 cents more than the average two weeks ago).  

Wheat prices closed at $5.28 on Tuesday, $5.51 per bushel Wednesday, $5.63 per bushel Thursday and $5.55 on Friday.  

Gasoline and diesel fuel  

The nationwide average for regular unleaded gasoline was $2.72 per gallon July 12, according to AAA and the Oil Price Information Service, down 4 cents from the previous week. Prices are up 1 percent from an average of $2.70 per gallon a month ago and up 7 percent from an average of $2.54 per gallon this time last year. Mid-range unleaded currently averages $2.88 per gallon while premium unleaded as of July 12 stood at $2.99 per gallon. The nationwide average price for diesel fuel stood at $2.95 per gallon June 12, off 2 cents from the previous week. Diesel prices are up 14 percent from an average of $2.58 per gallon this time last year.  

Natural gas   

Natural gas spot prices increased the most recent report week (June 30 – July 7), as much of the East Coast experienced the hottest regional temperatures of the year, according to the U.S. Energy Information Administration. During the report week, the Henry Hub spot price increased by $0.23 to $4.76 per million Btu (MMBtu).

Pizza company stocks  

Shares in Pizza Hut parent Yum! Brands Inc. closed at $39.98 on July 9, down 99 cents compared with the previous week's close of $40.97. YUM traded at a 52-week high of $44 in April 2010 and a 52-week low of $32.49 in Oct 2009.  

Domino's  closed at $11.87, up 18 cents compared with the previous Friday's close of $11.69. DPZ traded as high as $16.32 in April 2010 and as low as $7.09 in June 2009, over the past 52 weeks.  

Papa John's stock closed at $24.24, up 12 cents compared wit the previous Friday's close of $24.12. PZZA traded at a 52-week high of $28.84 in May 2010 and a 52-week low of $21.44 in December 2009.  

Shares in CEC Entertainment Inc., parent company of Chuck E. Cheese restaurants, closed at $34.99, down 61 cents compared with the previous week's close of $35.60. CEC traded at a 52-week high of $41.79 in April 2010 and a 52-week low of $24.69 in October 2009.  

California Pizza Kitchen closed at $13.98 on July 9, down $1.81 from the previous week's close of $15.79. CPKI traded as high as $22.92 in April 2010 and as low as $12.29 in December 2009.  

Pizza Inn closed at $1.85 on July 9, flat from the previous week's close. PZZI traded at a 52-week high of $2.20 in April 2010 and a 52-week low of $1.46 in July 2009.

 


Topics: Operations Management


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