Article

Wheat prices close under $8

Gas prices drop a nickel after a four-month surge.

April 23, 2012 by Alicia Kelso — Editor, QSRWeb.com

Wheat prices dropped more than 30 cents last week, and closed under $8 on Friday. Gas prices are also down a nickel from the previous week after experiencing a four-month surge.

Cheese

Average block cheese prices inched up two cents last week on the Chicago Mercantile Exchange, averaging $1.50, up slightly from $1.48 the previous week.

Prices closed at $1.48 Monday, $1.49 Tuesday, $1.50 Wednesday, $1.51 Thursday and $1.52 Friday.

Wheat

Wheat prices dropped more than 30 cents last week, averaging $8.04 on the Minneapolis Grain Exchange, from $8.35 the week prior.

Wheat prices closed at $8.15 Monday, $8.08 Tuesday, $8.00 Wednesday, $8.09 Thursday and $7.91 Friday.

Gasoline and diesel fuel

Today's nationwide average for regular unleaded fuel is $3.85, down from $3.90 last week, according to AAA and the Oil Price Information Service. This is the second week-to-week drop in gas prices in months. Crude oil prices also have started to drop as tensions with Iran begin to ease a bit.

Prices also are down from a month ago when they were $3.89. Last year at this time, consumers were paying $3.86 at the pump.

Today's mid-range unleaded is $3.99, down from $4.04 last week, while today's premium unleaded price is $4.13, down from $4.17 last week.

Diesel fuel prices are averaging $4.11, a moderate change from $4.14 last week. The price of diesel fuel is down from $4.15 a month ago, and from $4.13 a year ago.

Natural gas

With continued warmer-than-normal April temperatures, natural gas prices hovered just under the $2 mark for most of the week. The Henry Hub price closed at $1.87 per million British thermal units (MMBtu) yesterday, down 4 cents for the week.

At the New York Mercantile Exchange (NYMEX), the May 2012 natural gas contract fell 3.3 cents per MMBtu for the week, closing at $1.95 per MMBtu April 17.

Pizza company stocks

Pizza Hut parent Yum! Brands Inc. closed last week at $73.93 after hitting a new 52-week high earlier in the day at $74.44. The company, which, closed the previous week at $72.86, was lifted by a positive earnings report. Its 52-year low is $47.15, a year ago.

Domino's closed last Friday at $35.32, down slightly from $35.49 the previous week. DPZ hit its 52-week high last month at $42.21. Shares remain substantially higher over this time last year when the company traded at $17.75.

Papa John's closed last week at $38.74, up a bit from $38.18 the previous Friday. PZZA hit its 52-week high in February at $40.82. The company hit its 52-week low a year ago when it traded at $26.95.

CEC Entertainment Inc., parent company of Chuck E. Cheese restaurants, closed out last week at $37.62, a jump from $36.99 the week prior. CEC hit its 52-week low of $25.83 in September. The company hit its 52-week high of $42.75 in July 2011.

Pizza Inn closed Friday at $4.14, down from $4.40 the previous week. PZZI hit its 52-week high of $7.07 in December and traded as low as $2.06 a year ago.

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