Article

Cheese prices at all-time highs

Domino's Pizza shares hit another lifetime high last week.

March 17, 2014 by Alicia Kelso — Editor, QSRWeb.com

Wheat and cheese prices continued their climb last week. Wheat is up 35 cents just within the past week. Cheese, meanwhile, is at an all-time high, driven in large part by greater consumption in the China market, according to Bloomberg.

Here's a glimpse at the market this week.

Cheese

Cheese prices continued to rise last week, averaging $2.33 on the Chicago Mercantile, from $2.24 the week prior.

A year ago, cheese averaged about $1.60.

Last week, prices closed at $2.30 Monday, $2.32 Tuesday and Wednesday, $2.35 Thursday and $2.36 on Friday.

Wheat

Wheat prices also jumped last week, averaging $7.50 on the Minneapolis Grain Exchange, from $7.15 the week prior. Wheat prices were as low as $6.02 in January.

Last week, prices closed at $7.46 Monday and $7.51 Tuesday through Friday.

Gasoline and diesel fuel

The nationwide average price for regular unleaded fuel today is $3.52, another jump from $3.48 the previous week. According to the AAA and the Oil Price Information Service, prices a month ago were $3.33.

Last year at this time, consumers were paying $3.68 at the pump.

Today's mid-range unleaded is $3.70, from $3.67 the week prior. Premium gas is $3.87, from $3.83 the week prior.

Diesel fuel prices are averaging $4, even from $4 the week prior. The price of diesel fuel was $3.95 a month ago, and $4.06 a year ago.

Natural gas

With temperatures rising in most of the United States, natural gas spot prices declined during the report week (March 5 through March 12) at most locations. The Henry Hub spot price averaged $4.66 per million British thermal units (MMBtu) March 12, a $1.75/MMBtu decrease for the report week.

At the New York Mercantile Exchange (Nymex), the April 2014 contract decreased to $4.490/MMBtu, a 3.3 cent/MMBtu decrease for the report week. The contract had increased to $4.605/MMBtu through trading on March 11, but its price dropped March 12 by 11.5 cents/MMBtu.

Pizza company stocks

Shares of Pizza Hut parent Yum! Brands Inc. closed out last week at $75.83, down from $77.29 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 $78.91, down slightly from $79.19 the week prior. DPZ is trading at a lifetime high, hitting $80.47 earlier last week. The company's 52-week low was $49.01, a year ago.

Papa John's shares finished last week at $52.52, down from $53.13 the week prior. PZZA also hit a new 52-week high earlier in the week at $54.17. Its low of $29.50 was a year ago.

Pizza Inn Holdings closed out last week at $6.02, from $6.12 the week prior. The company's 52-week-high was $9.18 in May. It traded as low as $3.80 a year ago.

Photo provided by Wikipedia.

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