Article

Commodities: Natural gas hits historic low

The prices for cheese, wheat decreased and gasoline increased, natural gas fell significantly, and pizza stocks fluctuated.

March 7, 2016 by Travis Wagoner — Editor, Networld Media Group

The prices for cheese, wheat decreased and gasoline increased, natural gas fell significantly, and pizza stocks fluctuated. Details are below.

Cheese

Average block cheese prices dropped and then rose during the week on the Chicago Mercantile Exchange. Prices were $1.48 Monday, $1.46 Tuesday, $1.45 Wednesday, $1.47 Thursday and $1.52 Friday. The previous week's prices were $1.48 Monday, $1.45 Tuesday through Thursday and $1.48 Friday. 

Wheat

Wheat prices increased 14 cents to $5.03 from the previous week on the Minneapolis Grain Exchange. It was $4.89 the previous week.

Gasoline and diesel fuel

Monday's nationwide average for regular unleaded gasoline increased to $1.81 from $1.75 the previous week, according to AAA and the Oil Price Information Service.

Prices are up from $1.74 a month ago, and are significantly lower than this time last year, when consumers were paying $2.46 at the pump.

Mid-range remained increased 6 cents from last week to $2.02, while Monday's premium unleaded price was $2.29, increasing 5 cents from last week.

The nationwide average for diesel fuel increased 1 cent to $1.99 from last week. Diesel prices were also $2.02 a month ago, and 94 cents down from a year ago, when prices were $2.93.

Natural gas

Natural gas prices hit historic lows at many market locations this week (Wednesday, Feb. 24, to Wednesday, March 2). The Henry Hub spot price fell by 20 cents, from $1.79/MMBtu last Wednesday to $1.59 yesterday. This is the lowest nominal Henry Hub price since 1998.

The price of the April 2016 Nymex contract fell by 16 cents this week, from $1.834/MMBtu last Wednesday to $1.678 yesterday. The price of the 12-month strip (the average of the 12 futures contracts between April 2016 and March 2017) fell slightly, from $2.206/MMBtu last Wednesday to $2.187 yesterday.

Pizza company stocks

Shares in Pizza Hut parent Yum! Brands Inc closed Friday at $78.05, up from last week's $71.42.

Domino's finished last week at $132.99, down from last week's $134.39.

Papa John's closed Friday at $58.04, down from $61.07 the previous week.

Shares in Papa Murphy's closed Friday at $11.01, up from last week's $10.70. Four weeks ago it closed at $8.95.

About Travis Wagoner

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Travis Wagoner spent nearly 18 years in education as an alumni relations and communications director, coordinating numerous annual events and writing, editing and producing a quarterly, 72-plus-page magazine. Travis also was a ghostwriter for an insurance firm, writing about the Affordable Care Act. He holds a BA degree in communications/public relations from Xavier University.