Article

Cheese prices plummet after weeks on the rise

After spiking to $2.45 in mid-September, cheese prices plummeted last week, dropping as low as $2.15.

October 6, 2014 by Alicia Kelso — Editor, QSRWeb.com

Wheat steadies out after weeks of decreasing prices.

After spiking to $2.45 in mid-September, cheese prices plummeted last week, dropping as low as $2.15.

Gas prices remain at or near seven-month lows. According to AAA, this is due to decreased demand, cheaper crude oil prices and the switch over to winter-blend gasoline, which is less expensive to produce.

Here's a glimpse at the market this week.

Cheese

After hitting $2.45 in mid-September, cheese prices fell last week on the Chicago mercantile, averaging $2.18, from $2.34 the week prior and $2.40 two weeks ago.

Prices closed at $2.23 on Monday, $2.20 Tuesday, $2.18 Wednesday, $2.14 Thursday, and $2.15 on Friday.

Wheat

After weeks of dropping prices, wheat remained steady last week on the Minneapolis Grain Exchange and are at their lowest levels in four years. Last week’s average was $5.36, from $5.35 the week prior.

Prices were near the $8 mark in Q2.

Last week’s prices closed at $5.39 Monday, $5.33 Tuesday, $5.31 Wednesday, $5.35 Thursday and $5.43 on Friday.

Gasoline and diesel fuel

Monday's nationwide average for regular unleaded gasoline was $3.28, down from $3.33 the week prior. Gas prices were $3.44 a month ago. Consumers were paying $3.35 at the pump this time last year, according to AAA and the Oil Price Information Service. 

Mid-range unleaded was $3.48 on Monday, while the premium unleaded price was $3.66.

The nationwide average for diesel fuel was $3.71, down from $3.73 the week prior. Diesel prices are also down from $3.79 a month ago and $3.88 a year ago.

Natural Gas

Spot prices increased at most trading locations during the report week of Sept. 24-Oct. 1 as cooler weather moved in throughout much of the country. The Henry Hub spot price increased from $3.84 per million British thermal units (MMBtu) Sept. 24 to $4.14/MMBtu Oct. 1. Spot prices in all markets across the country posted steady increases, ranging from $0.07/MMBtu to $0.30/MMBtu, while prices at several northeastern locations fluctuated considerably.

At the New York Mercantile Exchange (Nymex), the price of the near-month (November 2014) contract increased by a dime from $3.911/MMBtu Sept. 24 to $4.023/MMBtu Oct. 1.

Pizza company stocks

Shares in Pizza Hut parent Yum! Brands Inc. closed out last Friday at $71.51, down 3 cents from the week prior, when shares closed at $71.54. Yum’s 52-week high of $83.58 was reached in July. Its low of $64.08 was a year ago.

Domino's finished last week at $77.58, up a bit from $76.30 the week prior. DPZ hit its 52-week high of $80.61 in March. The company’s 52-week low of $64.89 was a year ago.

Papa John's finished out last week at $40.78, up slightly from $40.10 the week prior. PZZA’s 52-week high of $55 was in March. Its low of $33.88 was a year ago.

Pizza Inn closed out last week at $7.69, down from $8.05 the week prior. The company’s 52-week high is $9.09, achieved in November 2013. Its low is $5.38 in March.

Shares in Papa Murphy's closed last week at $9.57, down from $10.26 the week prior. In its sixth month on the NASDAQ, FRSH’s high/low is $12.10/$8.08, respectively.

_{Photo provided by Wikimedia.} 

About Alicia Kelso

---

None

Connect with Alicia: