Article

Cheese, fuel, wheat all up

A Russian ban on grain exports has made wheat prices skyrocket to recently unprecedented levels.

August 8, 2010

Cheese

Block cheese prices stayed flat last week on the Chicago Mercantile Exchange, averaging just over $1.60 per pound all week long, as it has since July 20.

Cheese prices are up 24 percent compared with last year, when they averaged $1.29 per pound.

Wheat

Feared shortages due to a Russian ban on grain exports made prices skyrocket last week. Prices for wheat on the Minneapolis Grain Exchange closed at $7.23 per bushel last Friday, a 35 cent increase from $6.88 the previous Friday.

Wheat prices closed at just over $7.13 on Monday, $6.97 on Tuesday, $7.32 per bushel Wednesday, and $7.83 per bushel Thursday.

Gasoline and diesel fuel

The nationwide average for regular unleaded gasoline was $2.77 per gallon August 2, according to AAA and the Oil Price Information Service, up 3 cents from the previous week’s average of 2.74. Prices up 2 percent from $2.71 per gallon a month ago and up 5 percent from an average of $2.64 per gallon this time last year. Mid-range unleaded currently averages $2.95 per gallon while premium unleaded as of Aug. 9 stood at $3.05 per gallon. The nationwide average price for diesel fuel stood at $2.99 per gallon August 9, up 4 cents from the previous week. Diesel prices are up 12 percent from an average of $2.66 per gallon this time last year.

Natural gas 

Natural gas spot prices rose at nearly all market locations in the lower 48 States since last Wednesday, July 28, according to the Energy Information Administration. A few exceptions to these increases occurred in trading locations that serve markets in California as well as a few other locations scattered around the lower 48. Prices at most market locations rose between 5 and 15 cents per million Btu (MMBtu) this week; however, some locations registered significantly higher increases.

Pizza company stocks

Shares in Pizza Hut  parent Yum! Brands Inc. closed at $42.36 on Aug. 6, up $1.06  compared with the previous week's close of $41.30. YUM traded at a 52-week high of $44 in April 2010 and a 52-week low of $32.49 in Oct 2009.

Domino's closed at $13, up 21 cents compared with the previous Friday's close of $12.79. DPZ traded as high as $16.32 in April 2010 and as low as $7.09 in August 2009.

Papa John's stock closed at $24.06, down $.127 cents compared with the previous Friday's close of $25.33. PZZA traded at a 52-week high of $28.84 in May 2010 and a 52-week low of $21.44 in December 2009.

Shares in CEC Entertainment Inc., parent company of Chuck E. Cheese restaurants, closed at $32.60, down $2.13 cents compared with the previous week's close of $34.73. CEC traded at a 52-week high of $41.79 in April 2010 and a 52-week low of $24.69 in October 2009.

California Pizza Kitchen’s stock suffered after a deal with American Securities fell through. It closed at $16.18 on Aug. 6, down $1.76 from the previous week's close of $17.94. CPKI traded as high as $22.92 in April 2010 and as low as $12.29 in December 2009.

Pizza Inn closed at $1.97 on Aug. 6, up 5 cents from the previous week's close of $1.92. PZZI traded at a 52-week high of $2.20 in April 2010 and a 52-week low of $1.50 in December 2009.