Article

Cheese prices up 10 cents in a week

Papa Murphy's stock is up $2 in two weeks.

September 22, 2014 by Alicia Kelso — Editor, QSRWeb.com

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After remaining steady at $2.35 for two straight weeks, cheese prices jumped last week and finished Friday a dime higher.

Wheat prices, conversely, are at their lowest levels in years.

Here's a glimpse at the market this week.

Cheese

Average block cheese prices rose sharply last week on the Chicago Mercantile, after averaging $2.35 for two weeks in a row.

Last week’s average was $2.40.

Prices closed at $2.37 Monday, $2.39 Tuesday, $2.41 Wednesday and Thursday and $2.45 on Friday.

Wheat

Wheat prices continued to drop significantly and are averaging their lowest prices in four years, at $5.56, from $6.07 the week prior.

On the Minneapolis Grain Exchange, wheat was near the $8 mark in Q2.

Last week’s prices closed at $5.68 Monday, $5.65 Tuesday, $5.63 Wednesday, $5.50 Thursday and $5.35 on Friday.

Gasoline and diesel fuel

Monday's nationwide average for regular unleaded gasoline was $3.33, a drop from $3.39 the week prior. Gas prices were $3.43 a month ago. Consumers were paying $3.47 at the pump this time last year, according to AAA and the Oil Price Information Service. 

Mid-range unleaded was $3.53 on Monday, while the premium unleaded price was $3.71.

The nationwide average for diesel fuel was $3.75, down from $3.78 the week prior. Diesel prices are also down from $3.81 a month ago and $3.92 a year ago.

Natural Gas

Prices generally fell in the Northeast but rose moderately across most of the rest of the country. The Henry Hub spot price was nearly flat, gaining a penny from $3.96 per million British thermal unit (MMBtu) Sept. 10, to $3.97/MMBtu Sept. 17.

At the New York Mercantile Exchange (Nymex) the price of the near-month (October 2014) contract rose from $3.954/MMBtu Sept. 10 to $4.013/MMBtu Sept. 17.

Pizza company stocks

Shares in Pizza Hut parent Yum! Brands Inc. closed out last Friday at $72.64, up slightly from $72.59 the week prior. 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 $76.74, a slight increase from $76.24 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 $41.67, a jump from $37.99 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 $7.92, up from $7.73 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 $10.44, up nearly $1 from $9.49 the week prior and $2 from $8.46 two weeks ago. In its fifth month on the NASDAQ, FRSH’s high/low is $12.10/$8.08, respectively.

Photo provided by Wikipedia.

About Alicia Kelso

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Alicia has been a professional journalist for 15 years. Her work with FastCasual.com, QSRweb.com and PizzaMarketplace.com has been featured in publications around the world, including NPR, Good Morning America, Voice of Russia radio, Consumerist.com and Franchise Asia magazine.

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