Article

Wheat: Droppin’ like it’s hot

Domino's and Pizza Inn hit new 52-week highs

June 19, 2011

Average block cheese prices stayed the same as last week's on the Chicago Mercantile Exchange, coming in at an average of $2.11. The price hold comes after cheese prices had jumped 20 cents and 15 cents the previous two weeks, respectively.

Cheese stayed consistent around $2.11 Monday through Thursday but went up a penny to $2.12 on Friday.

Wheat

Wheat prices dropped significantly this week after hitting above $10 the last three weeks in a row. Crop supportive weather is helping with supply, according to Forex Trading.

The week's average was $9.37 on the Minneapolis Grain Exchange, down from $10.13 the previous week.

Wheat closed at $9.85 Monday, $9.68 Tuesday, $9.37 Wednesday, $9 Thursday and $8.97 Friday.

Gasoline and diesel fuel

Monday's nationwide average for regular unleaded gasoline was $3.64, down 6 cents from last week's $3.70, according to AAA and the Oil Price Information Service.

Prices are also down from $3.86 a month ago, but remain up more than $1 from this time last year, when consumers were paying $2.73 at the pump.

Mid-range unleaded is $3.78, while Monday's premium unleaded price was $3.91, a 7-cent increase from last week's $3.84.

The nationwide average for diesel fuel is $3.97, a 1-cent drop from $3.98 last week. Diesel prices are also down from $4.07 a month ago, and remain up from $2.97 a year ago.

Natural Gas

The past week was characterized by passing of the earlier week's heat wave. The Henry Hub price decreased 31 cents per million Btu (MMBtu) for the week (6.4 percent) to close at $4.52 per MMBtu on June 15.

Pizza company stocks

Shares in Pizza Hut parent Yum! Brands Inc. went up Friday to $54.69 from the previous week's $52.87. The company hit its 52-week high three weeks ago when shares were $56.26. Yum! traded at a 52-week low of $38.53 in July 2010.

Domino's hit its 52-week high as it finished at $23.76, a bump from last week's $23.14. Shares are also substantially higher over this time last year when the company traded as low as $10.99 in June 2010.

Papa John's finished at $32.13, a slight increase from last week's $32.12. The company hit its 52-week high two weeks ago at $34.12. Papa John's traded at a 52-week low of $22.78 in July 2010.

Shares in CEC Entertainment Inc., parent company of Chuck E. Cheese restaurants, closed at $38.87, an increase from last week's $37.72 Friday. CEC traded as high as $40.90 in December 2010 and as low as $30.44 in August 2010.

California Pizza Kitchen closed at $18.47, a 5-cent increase from last week when it came in at $18.42. CPKI traded as high as $20.79 in May 2010 and as low as $13.19 in July 2010.

Pizza Inn hit a new 52-week high this week at $2.50, up 2 cents from last week's $2.48 and previous 52-week high. It traded as low as $1.77 in May 2010.