Article

Average cost of wheat inches up

Gas prices have stayed steady for the past two weeks, despite a busy holiday weekend.

September 8, 2014 by Alicia Kelso — Editor, QSRWeb.com

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Cheese prices continued on an upward trajectory last week on the Chicago Mercantile. Wheat prices also inched up throughout the week, despite having a one-day break for the Labor Day holiday.

Here's a glimpse at the market this week.

Cheese

Average block cheese prices jumped another 5 cents last week on the Chicago Mercantile, averaging $2.35, from $2.30 the week prior. Cheese was $1.99 a month and a half ago.

Prices last week were $2.35 Tuesday through Friday. The markets were closed Monday for the Labor Day holiday.

Wheat

Wheat prices also increased last week on the Minneapolis Grain Exchange, averaging $6.22, from $6.13 the week prior. Wheat flirted with $8 in Q2 of this year.

Last week's prices closed at $6.18 Tuesday, $6.24 Wednesday, $6.22 Thursday and $6.26 on Friday.

Gasoline and diesel fuel

Monday's nationwide average for regular unleaded gasoline was $3.43, steady from $3.43 the week prior. Gas prices were $3.47 a month ago. Consumers were paying $3.57 at the pump this time last year, according to AAA and the Oil Price Information Service. 

Mid-range unleaded was $3.63 on Monday, while the premium unleaded price was $3.80.

The nationwide average for diesel fuel was $3.79, a penny down from $3.80 the week prior. Diesel prices are also down from $3.82 a month ago and $3.94 a year ago.

Natural Gas

Spot prices fell at most trading locations across the country for this report week (Aug. 27 to Sept. 3). The Henry Hub spot price fell from $3.99 per million British thermal unit (MMBtu) Aug. 27 to $3.94/MMBtu Sept. 3.

At the New York Mercantile Exchange (Nymex), the near-month (October 2014) contract fell from $4.003/MMBtu Aug. 27 to $3.847/MMBtu Sept. 3.

Pizza company stocks

Shares in Pizza Hut parent Yum! Brands Inc. closed out last Friday at $71.68, down slightly from $72.31 the week prior. Yum’s 52-week high of $83.58 was reached in July. Its low of $64.08 was a year ago.

Domino's finished last week at $75.38, up from $75.26 the week prior. DPZ hit its 52-week high of $80.61 in March. The company’s 52-week low of $62.04 was a year ago.

Papa John's finished out last week at $39.86, up from $39.42 the week prior. PZZA’s 52-week high of $55 was in March. Its low of $33.38 was a year ago. 

Pizza Inn closed out last week at $7.67, down from $8.07 the week prior. The company’s 52-week high is $9.09, achieved in November 2013. Its low is $5.38 in March.

Shares in Papa Murphy's closed last week at $8.46, up slightly from $8.43 the week prior. In its fifth month on the NASDAQ, FRSH’s high/low is $12.10/$8.08, respectively.

Photo provided by Wikimedia.

About Alicia Kelso

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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.

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