Commodities update - Week of June 1, 2009
May 31, 2009
CHICAGO -- Block cheese prices edged slightly upward last week on the Chicago Mercantile Exchange, with prices averaging just under $1.15 per pound for the shortened trading week ended May 29, up 2 cents from the previous week.
The markets were closed Monday for Memorial Day.
Block cheese prices closed at $1.14 per pound Tuesday, just above $1.14 per pound Wednesday, $1.15 per pound Thursday and just above $1.15 per pound Friday. Prices are off $1.10, or 49 percent, compared with this time last year, when block cheese averaged $2.25 per pound. Wheat Wheat for July delivery closed at $7.72 per bushel Friday on the Minneapolis Grain Exchange, up 27 cents from the previous Friday's close. Wheat had closed at just under $7.55 per bushel Tuesday, just under $7.80 Wednesday and just above $7.67 per bushel on Thursday. Gasoline and diesel fuel The nationwide average for regular unleaded gasoline was $2.50 per gallon May 31, according to AAA and the Oil Price Information Service, up 8 cents from the previous week. Prices are up 22 percent from an average of $2.05 per gallon a month ago and off 37 percent from an average of $3.97 per gallon this time last year. Mid-range unleaded averaged $2.66 per gallon while premium unleaded stood at $2.75 per gallon. The nationwide average price for diesel fuel stood at $2.37 per gallon May 31, up 4 cents from last week. Diesel prices are off 49 percent from an average of $4.79 per gallon this time last year. Natural gas Natural gas spot prices declined this report week, with the largest decreases generally occurring in the western half of the country. The Henry Hub spot price decreased by 26 cents per million Btu (MMBtu) to $3.49, off 26 cents from the previous week.
Pizza company stocks Shares in Pizza Hut parent Yum! Brands Inc. closed at $34.63 on May 29, up 63 cents compared with last Monday's open. Yum! traded at a 52-week high of $40.25 in May 2008 and a 52-week low of $21.50 in November 2008. Domino's closed at $9.06, up 75 cents compared with last Monday's open of $8.31. Over the past 52 weeks, DPZ has traded as high as $14.20 in May 2008 and as low as $2.61 in November 2008. Papa John's stock closed at $27.10, up 5 percent compared with last Monday's open of $25.85. PZZA traded at a 52-week high of $30.68 in September 2008 and a 52-week low of $12.78 in November 2008. Shares in CEC Entertainment Inc., parent company of Chuck E. Cheese restaurants, closed at $32.13, up 11 percent compared with last Monday's open of $29.04. CEC traded at a 52-week high of $39.59 in May 2008 and a 52-week low of $12.96 in November 2008. California Pizza Kitchen closed at $13.95 on May 29, up 12 percent compared with last Monday's open of $12.41. Over the past 52 weeks, CPKI has traded as high as $17.44 in mid-April and as low as $5.24 in November 2008. Pizza Inn closed at $1.59 on may 29, up 14 cents compared with last Monday's open of $1.45. PZZI traded at a 52-week high of $2.72 in October 2008 and a 52-week low of 98 cents in April 2009.
California Pizza Kitchen
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