Article

Cheese remains below $2 for second week in a row

After hitting 6-year highs, gas prices tumble in a week.

July 14, 2014 by Alicia Kelso — Editor, QSRWeb.com

After hitting record-high prices earlier this year, cheese has tempered a bit and is below $2 for the second week in a row. Gas prices also let up today after hitting 6-year highs heading into the Fourth of July travel weekend.

Here's a glimpse at the market this week:

Cheese

Cheese prices remained below $2 for the second week in a row last week on the Chicago Mercantile, averaging $1.95, from $1.97 the week prior.

Last week’s prices closed at $1.95 on Monday, $1.95 Tuesday, $1.94 Wednesday, $1.95 Thursday and $1.97 on Friday.

Wheat

The cost of wheat rose slightly last week after weeks of declines, averaging $6.65 on the Minneapolis Grain Exchange, from $6.79 the week prior.

Wheat was near the $8 mark last quarter and was around $6.02 in the beginning of the year.

Last week, prices closed at $6.57 Monday, $6.52 Tuesday, $6.40 on Wednesday and Thursday, and $7.37 on Friday.

Gasoline and diesel fuel

The nationwide average price for regular unleaded fuel is down to $3.61, from $3.65 last Monday, after prices jumped ahead of the Fourth of July holiday. According to the AAA and the Oil Price Information Service, prices a month ago were also $3.65.

Last year at this time, consumers were paying $3.60 at the pump.

Today's mid-range unleaded is $3.80, a drop from $3.84 the week prior. Premium gas is $3.97, from $4.01.

Diesel fuel prices are averaging $3.88, down a penny from $3.89 the week prior. The price of diesel fuel was $3.89 a month ago, and $3.84 a year ago.

Natural Gas

Natural gas prices decreased during the report week (July 2 to July 9) at most market locations for the third week in a row. The Henry Hub spot price decreased from $4.39 per million British thermal units (MMBtu) July 2 to $4.15/MMBtu July 9.

At the New York Mercantile Exchange (Nymex), the August 2014 contract began the report week on July 2 at $4.357/MMBtu, decreasing to $4.170/MMBtu by the end of trading July 9, an 18.7-cent/MMBtu decline. The price of the 12-month strip also decreased, from $4.289/MMBtu July 2 to $4.152/MMBtu July 9.

Pizza company stocks

Shares of Pizza Hut parent Yum! Brands Inc. closed out last week at $82.47, up from $81.92 the week prior. Yum! hit another fresh 52-week high earlier last week, at $83.43. Its 52-week low was a year ago at $64.08.

Domino's finished last week at $73.70, up slightly from $73.42 the week prior. DPZ hit a new lifetime high in March at $80.61. The company's 52-week low was $58.67 a year ago.

Papa John's shares finished last week at $42.02, down slightly from $42.67 the week prior. PZZA hit its 52-week high in March at $55. Its low of $32.78 was a year ago.

Pizza Inn Holdings closed out last week at $5.97, down from $6.19 the week prior. The company’s 52-week high was $9.09 a year ago. It also traded as low as $5.38 a year ago.

Papa Murphy's closed out Friday at $8.82, a big drop from $9.78 the week prior. In its third month on the NASDAQ, FRSH’s high/low is $12.10 and $8.32, respectively.

_{Photo provided by Wikipedia.}

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