Wheat prices spike 50 cents in a week

June 25, 2012 | by Alicia Kelso

Wheat prices finished above $8 last week, jumping nearly 50 cents from the previous week's average. Cheese remained steady, while fuel prices continued to drop.


Average block cheese prices dipped to $1.61 last week on the Chicago Mercantile Exchange, from $1.64 the week prior.

Cheese prices closed at $1.61 Monday and Tuesday, and $1.62 Wednesday through Friday.


Wheat prices jumped again last week on the Minneapolis Grain Exchange, averaging $8.29, from $7.79 the week prior and $7.49 two weeks ago.

Wheat closed at $8.02 Monday, $7.98 Tuesday, $8.44 Wednesday, $8.43 Thursday and $8.59 Friday.

Gasoline and diesel fuel

Today's nationwide average for regular unleaded fuel is $3.41, another big drop from the previous week, when prices were $3.50 at the pump, according to AAA and the Oil Price Information Service.

Prices a month ago were 24 cents higher, at $3.65. Last year at this time, consumers were paying $3.58 at the pump.

Today's mid-range unleaded is $3.57, down a dime from $3.67 last week, while today's premium unleaded price is $3.70, from $3.80.

Diesel fuel prices are averaging $3.70, also down from $3.77 last week. The price of diesel fuel is down a quarter from $3.95 a month ago, and from $3.94 a year ago.

Natural gas

Natural gas prices increased at nearly all trading points across the country over the week. At the New York Mercantile Exchange (NYMEX), the July 2012 natural gas contract ended the week up 33.2 cents per MMBtu to close at $2.517 per MMBtu on June 19.

The Henry Hub price followed the NYMEX lead, closing June 19 at $2.60 per MMBtu, up 42 cents per MMBtu for the week.

Pizza company stocks

Pizza Hut parent Yum! Brands Inc. closed last week at $65.01, up from $64.42 the week prior. The company hit its 52-week high in May at $74.44 after turning in a positive earnings report. Its 52-week low is $47.15 from a year ago.

Domino's closed last Friday at $28.75, down from $29.32 a week ago. DPZ's 52-week high was $42.21 from April. Shares remain substantially higher over this time last year when the company traded at $22.84.

Papa John's closed last week at $45.99, nearly $1 down from $46.88 the week prior. PZZA hit its 52-week high in May at $50.45 after a positive earnings report. The company hit its 52-week low of $26.97 a year ago.

CEC Entertainment Inc., parent company of Chuck E. Cheese restaurants, closed out last week at $34.10, a jump from $34.22 the week prior. The company hit its 52-week high of $42.75 in July 2011. Its 52-week low was $25.83 in September.

Pizza Inn closed Friday at $3.06, up from $2.18 the previous week. PZZI hit its 52-week high of $7.07 in December and traded as low as $2.18 a year ago.

Read more about equipment and supplies.

Photo provided by geograph.org.uk.

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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