Article

Commodities: Natural gas prices tumble

An abundant natural gas supply has pushed prices down.

October 31, 2010

Cheese

Block cheese prices fell again last week on the Chicago Mercantile Exchange, averaging $1.64 per pound. The price is down 6 cents from last week's average of $1.66.

Cheese prices are up 9 percent overall compared with last year, when they averaged $1.50 per pound.

Wheat

Prices for wheat on the Minneapolis Grain Exchange closed at $7.77, up 49 cents from the previous week’s close of $7.28

Wheat prices closed at $7.33 on Monday, $7.46 on Tuesday, $7.59 per bushel Wednesday, and $7.76 per bushel Thursday.

Gasoline and diesel fuel

The nationwide average for regular unleaded gasoline was $2.80 per gallon November 1, according to AAA and the Oil Price Information Service, down 1 cent from the previous week’s average of $2.81. Prices are up 4 percent from $2.70 per gallon a month ago and up 4 percent from an average of $2.69 per gallon this time last year. Mid-range unleaded currently averages $2.98 per gallon while premium unleaded as of November 1 stood at just under $3.08 per gallon.

The nationwide average for diesel fuel stood at $3.09 per gallon November 1, flat from the previous week’s price. Diesel prices are up 9 percent from an average of $2.84 per gallon this time last year.

Natural gas

As the story of an abundant natural gas supply continued to provide headlines for the market this report week (Wednesday to Wednesday, October 20–27), spot prices at most market locations in the lower 48 States decreased, according to the Energy Information Administration.

Moderate temperatures also likely contributed to the price decline by limiting end-use demand and allowing for the continued replenishment of storage supplies. During the report week, the Henry Hub spot price decreased 9 cents per million Btu (MMBtu), or 2.6 percent, to $3.37 per MMBtu. Other market prices also decreased between 5 and 20 cents per MMBtu, with a few exceptions.

Pizza company stocks

Shares in Pizza Hut parent Yum! Brands Inc. closed at $49.56 on October 29, down 1 cent compared with the previous week's record-high close of $49.57. Yum! traded at an all-time 52-week high of $50.07 in October 2010 and a 52-week low of $32.49 in October 2009.

Domino's closed at $14.84, down 44 cents compared with the previous Friday's close of $15.28. 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 $25.83, down 62 cents compared with the previous Friday's close of $26.45. 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 $33.20, down 42 cents compared with the previous week's close of $33.62. CEC traded at a 52-week high of $41.79 in April 2010 and a 52-week low of $27.38 in November 2009.

California Pizza Kitchen closed at $16.51 on October 29, down 90 cents from the previous week's close of $17.41. CPKI traded as high as $22.92 in April 2010 and as low as $12.29 in December 2009.

Pizza Inn closed at $1.98 on October 29, up 6 cents from the previous week's close of $1.93. PZZI traded at a 52-week high of $2.20 in April 2010 and a 52-week low of $1.50 in December 2009.

*Photo by mag3737 on twitter