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Commodities: Gas gives small scare

Prices are up 9 cents in the last week after weeks of relatively stable or no increases.

October 10, 2010

Cheese

Block cheese prices rose just slightly last week on the Chicago Mercantile Exchange, averaging just under $1.77 per pound, up 1 cent from the previous week. Prices have inched up an average of about 5 cents in the last 30 days.

Cheese prices are up 20 percent overall compared with last year, when they averaged $1.47 per pound.

Wheat

Wheat prices did not press higher last week than the rest of September’s highs. The highs were due to a Russian ban on grain exports announced this summer. Prices for wheat on the Minneapolis Grain Exchange did close at $7.65, however, a 58-cent jump from the previous Friday’s closing price of $7.07.

Wheat prices closed at $6.96 on Monday, just under $7.12 on Tuesday, $7.05 per bushel Wednesday, and $7.07 per bushel Thursday.

Gasoline and diesel fuel

The nationwide average for regular unleaded gasoline was $2.81 per gallon October 11, according to AAA and the Oil Price Information Service, up 9 cents from the previous week’s average of 2.72. Prices are up 4 percent from $2.69 per gallon a month ago and up 13 percent from an average of $2.48 per gallon this time last year. Mid-range unleaded currently averages $2.98 per gallon while premium unleaded as of October 11 stood at just under $3.09 per gallon.

The nationwide average for diesel fuel stood at $3.08 per gallon October 11, up 2 percent  from the previous week’s price of $3.01. Diesel prices are up 17 percent from an average of $2.63 per gallon this time last year.

Natural gas

Natural gas spot prices fell at most pricing point locations across the board in the lower 48 States as demand fell, according to the Energy Information Administration. The price at the Henry Hub fell 25 cents, or about 7 percent, since last Wednesday, September 29, from $3.81 per million Btu (MMBtu) to $3.56 per MMBtu.

Pizza company stocks

Shares in Pizza Hut parent Yum! Brands Inc. closed at $47.65 on October 8 following a favorable earnings report, up $1.17 compared with the previous week's close of $46.48. Yum! traded at a 52-week high of $48.01 in October 2010 and a 52-week low of $32.49 in October 2009.

Domino's closed at $14.18, up $1.03 compared with the previous Friday's close of $13.15. DPZ traded as high as $16.32 in April 2010 and as low as $7.09 in November 2009.

Papa John's stock closed at $27.07, up 50 cents compared with the previous Friday's close of $26.57. PZZA traded at a 52-week high of $28.84 in May 2010 and a 52-week low of $21.44 in December 2009.

Shares in CEC Entertainment Inc., parent company of Chuck E. Cheese restaurants, closed at $33.56, down 40 cents compared with the previous week's close of $33.96. CEC traded at a 52-week high of $41.79 in April 2010 and a 52-week low of $25.18 in October 2009.

California Pizza Kitchen closed at $17.55 on October 8, up 20 cents from the previous week's close of $17.35. CPKI traded as high as $22.92 in April 2010 and as low as $12.29 in December 2009.

Pizza Inn closed at $1.85 on October 8, down 9 cents from the previous week's close of $1.94. PZZI traded at a 52-week high of $2.20 in April 2010 and a 52-week low of $1.50 in December 2009.