Article

The cheese stands alone: average block prices are just hanging out

The cheese stands alone this week, with prices remaining relatively stable for the past three weeks, while wheat is down nearly $0.20.

March 2, 2015 by Nicole Troxell — Associate Editor, Networld Media Group

The cheese stands alone this week, with prices remaining relatively stable for the past three weeks, while wheat is down nearly $0.20.

Domino's saw two new 52-week highs last week and gas continues to rise.

Here's a glance at the market:

Cheese

For the third week in a row, average block cheese prices didn't move last week on the Chicago Mercantile Exchange, coming in at an average of $1.54. The previous week's average was $1.54. Three weeks ago, prices averaged $1.53

Prices stayed the same each day last week, coming in at $1.54.

Wheat

Wheat prices averaged $5.58 last week on the Minneapolis Grain Exchange, down nearly 20 cents from a week ago at $5.77.

Wheat closed at $5.67 Monday, $5.66 Tuesday, $5.52 Wednesday, $5.51 Thursday and $5.56 Friday.

Gasoline and diesel fuel

Monday's nationwide average for regular unleaded gasoline was $2.42, up $0.12 from $2.30 the previous week, according to AAA and the Oil Price Information Service.

Prices are also down from $2.05 a month ago, but remain down more than $1 from this time last year, when consumers were paying $3.45 at the pump.

Mid-range unleaded was $2.64, while Monday's premium unleaded price was $2.83.

The nationwide average for diesel fuel is $2.91, an increase from $2.86 last week. Diesel prices are also up from $2.79 a month ago, but down from $4.00 a year ago.

Natural Gas

Natural gas prices increased at most market locations through the report week (Wednesday to Wednesday), as much of the country continued to experience cold temperatures. The Henry Hub spot price posted a 26¢ (9%) gain from $2.93/MMBtu on Wednesday, February 18, to $3.19/MMBtu on Wednesday, February 25.

At the New York Mercantile Exchange (Nymex), the price of the March 2015 futures remained below $3/MMBtu, opening the report week at $2.831/MMBtu and settling at $2.894/MMBtu yesterday. The 12-month strip, which averages the March 2015 through February 2016 contracts, remained essentially unchanged closing the week at $2.952/MMBtu yesterday.

Pizza company stocks

Shares in Pizza Hut parent Yum! Brands Inc. reached $81.49 Friday, up nearly $4.00 from $77.53 the previous week and $73.93 two weeks ago.

Domino's finished last week at $101.53, down from $102.50 the previous week. The company reached yet another new 52-week high of $106.46 on Tuesday, Feb. 24 after reaching a previous new high of $104.77 on Monday, Feb. 23.

Papa John's finished at $61.84 Friday, down about $3.00 from $64.83 the previous week. Papa John's also hit a new 52-week high at $65.96 on Monday, Feb. 23.

Papa Murphy's closed at $13.36 Friday, down from $13.63 the previous Friday.

Rave Restaurant Group turned in at $13.02 Friday, up from $12.51 the previous Friday.

About Nicole Troxell

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