Article

Cheese prices drop well below $2 mark

Heading into the busiest travel day of the year, gas prices have fallen for 60 consecutive days.

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

After a tough year of stubbornly high cheese prices, costs continued to show relief for a second week in a row and are now solidly below the $2 mark.

As we head into the busiest travel day of the year, gas prices remain favorable to consumers. According to AAA, the national average price has fallen for 60 consecutive days. Today's average marks the lowest since Nov. 4, 2010.

Here's a glimpse at the market this week.

Cheese

Cheese prices plummeted more than 20 cents last week on the Chicago Mercantile, averaging $1.80, from $2.01 the week prior. Cheese prices were $2.26 a month ago.

Last week, cheese closed at $1.88 Monday, $1.85 Tuesday, $1.80 Wednesday, $1.77 Thursday and $1.73 on Friday.

Wheat

Wheat prices, meanwhile, kept inching up on the Minneapolis Grain Exchange, averaging $5.79 last week, from $5.74 the week prior. Wheat was as low as $5.36 last month.

Last week's prices closed at $5.83 Monday, $5.78 Tuesday, $5.71 Wednesday, $5.84 Thursday and $5.83 on Friday.

Gasoline and diesel fuel

Monday's nationwide average for regular unleaded gasoline is $2.81, another drop from the week prior, when prices were averaging $2.88. Gas prices were $3.07 a month ago.

Consumers were paying $3.27 at the pump this time last year, according to AAA and the Oil Price Information Service.

Mid-range unleaded is $3.02 today, while the premium unleaded price is $3.20.

The nationwide average for diesel fuel today is $3.58, down from $3.62 the week prior. Diesel prices are also down from $3.62 a month ago and $3.82 a year ago.

Natural Gas

Colder-than-normal temperatures across most of the country prompted higher prices at market locations across the country during the report week (Nov. 12 to Nov. 19). The Henry Hub spot price rose from $4.20/ MMBtu Nov. 12 to $4.39/MMBtu Nov. 19.

At the New York Mercantile Exchange (Nymex), the December 2014 contract rose over the week, beginning at $4.185/MMBtu Nov. 12 and ending at $4.371/MMBtu Nov. 19.

Pizza company stocks

Shares in Pizza Hut parent Yum! Brands Inc. closed out last Friday at $75.51, up slightly from $75.39 the week prior. Yum's 52-week high of $83.58 was reached in July. Its low of $65.81 was in early October after its Q3 earnings report that included another China supply chain crisis.

Domino's hit another lifetime high last week, its fifth in a row, at $93.28. The company closed out Friday at $92.47, up from $91.87 the week prior. DPZ's 52-week low was $66.18 a year ago.

Papa John's finished out last week at $51.20, up more than $1 from $50.15  the Friday prior. PZZA's 52-week high of $55 was in March. Its low of $37.32 was a year ago.

Pizza Inn closed out last week at $6.77, a dip from $7 even the week prior. The company's 52-week high is $8.91, achieved last year. Its low is $5.38, from March.

Shares in Papa Murphy's closed last week at $9.50, up from $8.81 the week prior. In its eighth month on the NASDAQ, FRSH's high/low is $12.10/$8.08, respectively.

Photo provided by Flickr user Ken Teegardin.

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