Wheat prices up 40 percent from last year

 
July 18, 2010 | by Jennifer Litz

Block cheese prices continued the upward trajectory started weeks ago on the Chicago Mercantile Exchange, averaging just above $1.55 per pound, up 5 cents from the previous week's average. Prices closed at $1.54 on Monday and Tuesday, $1.55 Wednesday, $1.56 Thursday and $1.58 Friday.

Cheese prices are up 40 percent compared with last year, when they averaged $1.11 per pound.

Wheat

Prices for wheat on the Minneapolis Grain Exchange closed at just under $6.12 per bushel last Friday, a 57 cent run-up from the previous Friday's close of $5.55 (and over $1 more than the close three weeks ago).

Wheat prices closed at $5.59 Monday, $5.68 Tuesday, $5.72 per bushel Wednesday, and $6.13 per bushel Thursday.

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. Prices are down slightly from an average of $2.73 per gallon a month ago and up 10 percent from an average of $2.47 per gallon this time last year.

Mid-range unleaded currently averages $2.89 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, down 2 cents from the previous week. Diesel prices are up 16 percent from an average of $2.54 pergallon this time last year.

Natural gas

Natural gas prices moved significantly lower at market locations across the lower 48 States during the report week, according to the U.S. Energy Information Administration. The Henry Hub spot price averaged $4.39 per million Btu (MMBtu) in trading July 14, decreasing $0.37 compared with the previous Wednesday.

Pizza company stocks

Shares in Pizza Hut parent Yum! Brands Inc. closed at $41.20 on July 16, up $1. compared with the previous week's close of $39.98.

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 $12.77, up 90 cents compared with the previous Friday's close of $11.87. DPZ traded as high as $16.32 in April 2010 and as low as $7.09 in November 2009, over the past 52 weeks.

Papa John's stock closed at $25.31, up $1.07 compared wit the previous Friday's close of $24.24. 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 $36.59, up $1.60 cents compared with the previous week's close of $34.99. 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 $15.64 on July 16, up $1.66 from the previous week's close of $13.98. CPKI traded as high as $22.92 in April 2010 and as low as $12.29 in December 2009.

Pizza Inn closed at $1.86 on July 16, up 1 cent from the previous week's close of $1.85. PZZI traded at a 52-week high of $2.20 in April 2010 and 52-week low of $1.50 in December 2009.


Topics: Business Strategy and Profitability , Operations Management


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