Commodities update - Week of March 16, 2009

 
March 15, 2009
CHICAGO -- Block cheese prices on the Chicago Mercantile Exchange averaged slightly under $1.18 per pound for the trading week ended March 6, up 6 cents from the previous week.   Block cheese prices closed at $1.23 per pound Monday and Tuesday, slightly under $1.25 per pound Wednesday and Thursday and $1.20 per pound on Friday.   Prices are off 58 cents, or 32 percent, compared with this time last year, when block cheese averaged $1.82 per pound.   Wheat   Wheat for March delivery closed at $6.33 per bushel Friday on the Minneapolis Grain Exchange. Prices had closed at just under $6.32 per bushel Monday, slightly above $6.46 per bushel Tuesday, $6.25 per bushel Wednesday and just under $6.35 per bushel Thursday.   Gasoline and diesel fuel   The nationwide average for regular unleaded gasoline was $1.91 per gallon March 16, according to AAA and the Oil Price Information Service, off 3 cents from the previous week.   Prices are off 3 percent from an average of $1.96 per gallon a month ago and off 42 percent from an average of $3.28 per gallon this time last year. Mid-range unleaded averaged $2.03 per gallon while premium unleaded stood at $2.10 per gallon.   The nationwide average price for diesel fuel stood at $2.13 per gallon March 16, off 4 cents from last week. Diesel prices are off 47 percent from an average of $3.99 per gallon this time last year.   Natural gas
 
Natural gas spot prices declined at most market locations in the lower 48 states last week, according to the Energy Information Administration. Decreases ranged up to 59 cents per million Btus.
 
The Henry Hub spot fell 31 cents per MMBtu, or about 7 percent, to $3.92 per MMBtu.
Prices in the Northeast stood at $3.92 per MMBtu on March 11, off $1.35 compared with $5.27 the previous week.
 
Pizza stocks
 
Shares in Pizza Hut parent Yum! Brands Inc. opened at $27.16 on March 16, up slightly from last Monday's open of $26.68. YUM traded at a 52-week high of $41.73 in May 2008 and a 52-week low of $21.50 in November 2008.
 
Domino's opened at $6.47, off slightly from last week's open of $6.83. Over the past 52 weeks, DPZ has traded as high as $15.18 in March 2008 and as low as $2.61 in November 2008.
 
Papa John's stock opened at $23.83, up 9 percent compared with last Monday's open of $21.95. 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, opened at $23.24, up 14 percent compared with last Monday's open of $20.37. 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 opened at $11.77 on March 16, up 23 percent from last week's open of $9.60. Over the past 52 weeks, CPKI has traded as high as $16.91 in May 2008 and as low as $5.24 in November 2008.
 
Pizza Inn opened at $1.06 Monday, compared with last Monday's open of $1.05. PZZI traded at a 52-week high of $3.00 in April 2008 and a 52-week low of $1.03 in March 2009.

Topics: California Pizza Kitchen , Cheese , Chuck E. Cheese's Pizza , Delivery , Domino's Pizza , Dough , Operations Management , Papa John's , Pizza Hut , Public Companies


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