Article

Cheese and wheat prices take a tumble

Gas prices continue to climb sharply with the implementation of more expensive spring blends.

April 14, 2014 by Alicia Kelso — Editor, QSRWeb.com

Cheese prices took a much-anticipated tumble last week after months on the rise and all-time highs.

Conversely, prices at the pump are climbing, and are 12 cents higher than they were a month ago.

Here's a glimpse at the market this week:

Cheese

Cheese prices dropped 17 cents last week, offering up some long anticipated relief after months on the rise and record highs. They averaged $2.21 on the Chicago Mercantile, from $2.38 the week prior.

Prices remain nearly 60 cents higher than they were this time last year.

Last week, prices closed at $2.30 Monday, $2.26 Tuesday, $2.18 Wednesday, $2.16 Thursday and $2.17 on Friday.

Wheat

Wheat prices also dropped last week on the Minneapolis Grain Exchange, averaging $7.11, from $7.30 the week prior.

Wheat prices were as low as $6.02 at the beginning of the year.

Last week, prices closed at $7.22 Monday, $7.23 Tuesday, $7.12 Wednesday and $7.01 Thursday and Friday.

Gasoline and diesel fuel

The nationwide average price for regular unleaded fuel today is $3.63, up 6 cents from $3.57 the previous week. According to the AAA and the Oil Price Information Service, prices a month ago were $3.51

Last year at this time, consumers were paying $3.53 at the pump.

Today's mid-range unleaded is $3.81, from $3.75 the week prior. Premium gas is $3.98, from $3.92 the week prior.

Diesel fuel prices are averaging $3.95, down a penny from $3.96 the week prior. The price of diesel fuel was $4 a month ago, and $3.96 a year ago.

Natural gas

Spot prices rose slightly at most hubs for the report week (April 2 to April 9) and went up significantly at the benchmark Henry Hub, following declines the previous week. The Henry Hub spot price rose from $4.35/MMBtu April 2 to $4.66/MMBtu April 9.

At the New York Mercantile Exchange, the May 2014 contract increased from $4.364/MMBtu on April 2 to $4.586/MMBtu April 9.

Pizza company stocks

Shares of Pizza Hut parent Yum! Brands Inc. closed out last week at $75.19, down a bit from $76.44 the week prior. The company hit a new 52-week high in November, at $78.68. Its 52-week low was a year ago at $63.16.

Domino's finished last week at $74.29, down from $77.62 the week prior. DPZ hit a new lifetime high a month ago at $80.61. The company's 52-week low was $49.09 a year ago.

Papa John's shares finished last week at $48.34, down from $51.46 the week prior. PZZA hit its 52-week high a month ago at $55. Its low of $29.50 was a year ago.

Pizza Inn Holdings closed out last week at $5.95, down from $6.06 the week prior. The company's 52-week-high was $9.18 in May. It traded as low as $4.47 a year ago.

Photo provided by Wikipedia.

About Alicia Kelso

---

None

Connect with Alicia: