Commodities update - Week of March 30, 2009

 
March 29, 2009
CHICAGO -- Block cheese prices on the Chicago Mercantile Exchange were relatively unchanged last week, averaging slightly under $1.27 per pound for the trading week ended March 27, off a penny from an average of $1.28 per pound the previous week.
 
Block cheese prices closed at just above $1.28 per pound Monday, just under $1.27 per pound Tuesday, $1.25 per pound on Wednesday, just above $1.25 per pound Thursday and $1.30 per pound on Friday. 
 
Prices are off 53 cents, or 29 percent, compared with this time last year, when block cheese averaged $1.80 per pound.
 
Wheat
 
Wheat for May delivery closed at just under $6.08 per bushel Friday on the Minneapolis Grain Exchange. Prices had closed at just above $6.29 per bushel Monday, $6.29 per bushel Tuesday, $6.05 per bushel Wednesday and just under $6.13 per bushel Thursday.
 
Gasoline and diesel fuel
 
The nationwide average for regular unleaded gasoline was $2.05 per gallon March 30, according to AAA and the Oil Price Information Service, up 9 cents from the previous week.
 
Prices are up 8 percent from an average of $1.90 per gallon a month ago and off 38 percent from an average of $3.29 per gallon this time last year. Mid-range unleaded averaged $2.18 per gallon while premium unleaded stood at $2.25 per gallon.
 
The nationwide average price for diesel fuel stood at $2.26 per gallon March 30, up 12 cents from last week. Diesel prices are off 44 percent from an average of $4.02 per gallon this time last year.
 
Natural gas
 
Spot prices increased at all trading locations this week, with the biggest increases occurring in the Northeast, according to the Energy Information Administration. Many market locations ended the week with spot prices above $4 per million British thermal units.
 
During the report week, the Henry Hub spot price increased by 38 cents to $4.13 per MMBtu.
Prices in the Northeast stood at $4.64 per MMBtu on March 25, up 47 cents compared with $4.17 the previous week.
 
Pizza company stocks
 
Shares in Pizza Hut parent Yum! Brands Inc. opened at $28.26 on March 30, up 4 percent compared with last Monday's open of $27.11. 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 $6.53, up slightly compared with last week's open of $6.45. Over the past 52 weeks, DPZ has traded as high as $14.40 in April 2008 and as low as $2.61 in November 2008.
 
Papa John's stock opened at $23.24, off 39 cents compared with last Monday's open of $23.63. 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 $24.18, off 7 compared with last Monday's open of $24.25. 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 $13.29 on March 30, off 59 cents from last week's open of $13.87. 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 $1.02, off 8 cents compared with last Monday's open of $1.10. 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: Cheese , Chuck E. Cheese's Pizza , Delivery , Domino's Pizza , Dough , Operations Management , Papa John's , Pizza Hut , Pizza Inn , Public Companies


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