Article

Cheese prices continue to climb

After weeks on the rise, wheat prices fall a bit.

March 24, 2014 by Alicia Kelso — Editor, QSRWeb.com

Cheese prices are showing no mercy, jumping another 8 cents last week. They are at an all-time high, driven in large part by greater consumption in China.

After weeks on the rise, however, wheat prices have tempered a bit and gas prices are steady week over week.

Here's a glimpse at the market this week.

Cheese

Cheese prices jumped again last week, averaging $2.41 on the Chicago Mercantile, from $2.33 the week prior. Cheese averaged about $1.60 a year ago and is now at an all-time high.

Cheese was about $2 even at the beginning of the year.

Last week, prices closed at $2.40 Monday and Tuesday, and $2.42 on Wednesday, Thursday and Friday.

Wheat

Wheat prices decreased slightly last week on the Minneapolis Grain Exchange, averaging $7.44, from $7.50 the week prior.

Wheat prices were as low as $6.02 in January.

Last week, prices closed at $7.24 Monday, $7.41 Tuesday, $7.61 Wednesday, $7.55 Thursday and $7.43 on Friday.

Gasoline and diesel fuel

After weeks on the rise, the nationwide average price for regular unleaded fuel today is $3.52, even from $3.52 the previous week. According to the AAA and the Oil Price Information Service, prices a month ago were $3.39.

Last year at this time, consumers were paying $3.67 at the pump.

Today's mid-range unleaded is $3.71, up from $3.70 the week prior. Premium gas is $3.87, from $3.87 the week prior.

Diesel fuel prices are averaging $3.98, down slightly from $4 the week prior. The price of diesel fuel was $3.98 a month ago, and $4.03 a year ago.

Natural gas

Spot prices fell at most market locations during the report week (March 12 to March 19) as demand declined from the strong weather-related levels of the previous week. The Henry Hub spot price fell from $4.66 per million British thermal units March 12 to $4.44/MMBtu March 19.

At the New York Mercantile Exchange, the April 2014 contract posted almost zero net change, decreasing slightly from $4.490/MMBtu at the beginning to the report week to $4.484/MMBtu March 19.

Pizza company stocks

Shares of Pizza Hut parent Yum! Brands Inc. closed out last week at $75.25, down slightly from $75.83 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 $78.84, down slightly from $78.91 the week prior. DPZ is trading at a lifetime high, hitting $80.61 earlier last week. The company's 52-week low was $49.01, a year ago.

Papa John's shares finished last week at $54.50, up from $52.52 the week prior. PZZA hit another 52-week high earlier in the week at $55. Its low of $29.50 was a year ago.

Pizza Inn Holdings closed out last week at $5.80, a drop from $6.02 the week prior. The company's 52-week-high was $9.18 in May. It traded as low as $3.80 a year ago.

About Alicia Kelso

---

None

Connect with Alicia: