Wheat, cheese prices jump as gas falls
The stock market shifted a bit from the previous week as gas prices continued to drop for the third week in a row and pizza shares generally increased for a few of the major players.
Wheat prices are up nearly 15 cents from last week, as is cheese.
Here's a glimpse at the market this week:
Average block cheese prices jumped almost 10 cents last week on the Chicago Mercantile Exchange, coming in at an average of $2.08. The previous week's average was $1.99.
Last week's prices closed at $2.06 Monday, $2.07 Tuesday, $2.09 Wednesday and $2.10 Thursday and Friday.
Wheat prices rose last week on the Minneapolis Grain Exchange, averaging $6.29 from $6.15 the week prior. Four weeks ago, wheat was $6.65.
Prices were near the $8 mark last quarter and around $6.02 in the beginning of the year.
Wheat closed at $6.23 Monday, $6.29 Tuesday, $6.43 Wednesday, $6.34 Thursday and $6.18 Friday.
Gasoline and diesel fuel
The nationwide average for regular unleaded fuel prices is down to $3.47 from $3.50 the previous week, the third consecutive drop in prices, according to AAA and the Oil Price Information Service.
Prices are also down from $3.63 a month ago and eight cents lower from this time last year, when consumers were paying $3.55 at the pump.
Mid-range unleaded is $3.67, while Monday's premium unleaded price was $3.84.
The nationwide average for diesel fuel is $3.82, a drop from $3.83 last week. Diesel prices are also down from $3.89 a month ago, and from $3.87 a year ago.
Natural gas prices generally increased at most market locations this report week (July 30 – August 6). The Henry Hub spot price increased from $3.76 per million British thermal units (MMBtu) July 30 to $3.89 August 6.
At the New York Mercantile Exchange (Nymex), the price of the near-month futures contract (August 2014) increased from $3.786/MMBtu July 30 to $3.933/MMBtu August 6.
Pizza company stocks
Shares in Pizza Hut parent Yum! Brands Inc. climbed to $69.97 Friday, from $69.40 the previous week and $82.47 three weeks ago. Yum! hit its 52-week high last month, at $83.58. Its 52-week low was a year ago at $64.08.
Domino's finished last week at $72.06, up from $72.00 the previous week. DPZ hit a new lifetime high in March, at $80.61. The company’s 52-week low was $60.86 a year ago. Domino's traded as low as $10.99 in June 2010.
Papa John's shares finished last week at $41.01, down from $41.69 the week prior. PZZA hit its 52-week high in March at $55. Its low of $32.99 was a year ago. Papa John's traded at a 52-week low of $22.78 in July 2010.
Pizza Inn Holdings closed out last week at $7.56, up from $7.47 the week prior. The company’s 52-week high was $9.09 a year ago. Its low was $5.38, also a year ago.
Papa Murphy's closed out Friday at $8.70, up from $8.24 the week prior. In its fourth month on the NASDAQ, FRSH’s high/low is $12.10 and $8.08, respectively.
Photo courtesy of Claudio.Ar
Nicole Troxell / Nicole’s work has appeared in business, education, technical, and travel publications. She is currently the editor of QSRweb.com and PizzaMarketplace.com.