Article

Wheat prices continue downward spiral

June 26, 2011 by Alicia Kelso — Editor, QSRWeb.com

Cheese

Average block cheese prices rose slightly last week on the Chicago Mercantile Exchange, coming in at an average of $2.13. The previous week's average was $2.11.

Cheese prices closed at $2.13 even from Monday through Friday.

Wheat

Crop supportive weather continues to cause wheat prices to fall significantly after hitting above $10 earlier this month. Last week's average on the Minneapolis Grain Exchange was down to $8.66, down from the prior week's average of $9.37.

Wheat closed at $9 even Monday, $9.02 Tuesday, $8.60 Wednesday, $8.44 Thursday and $8.26 Friday.

Gasoline and diesel fuel

Monday's nationwide average for regular unleaded gasoline was $3.56, an 8-cent drop from $3.64 last week, according to AAA and the Oil Price Information Service.

Prices are also down from $3.79 a month ago, but remain up from this time last year, when consumers were paying $2.75 at the pump.

Mid-range unleaded is $3.70, while today's premium unleaded price is $3.83, down from last week's $3.91.

The nationwide average for diesel fuel is $3.92, a decrease from $3.97 last week. Diesel prices are also down from $4.02 a month ago, and remain up from $2.98 a year ago.

Natural Gas

Natural gas prices fell slightly at most market locations from Wednesday, June 15 to Wednesday, June 22. The Henry Hub price fell 10 cents from $4.52 per million Btu (MMBtu) last Wednesday to $4.42 per MMBtu yesterday.

Pizza company stocks

Shares in Pizza Hut parent Yum! Brands Inc. dipped Friday to $54.18 from the previous week's closing of $54.69. 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 $25.07 Friday, a jump from $23.76 last week. 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 $32.59, an increase from last week's $32.13. The company hit its 52-week high three 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, jumped up to $39.69 from $38.87 the previous week. CEC traded as high as $40.90 in December 2010 and as low as $30.44 in August 2010.

California Pizza Kitchen closed at $18.46 Friday, down a penny from $18.47 the previous week. 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 $2.82, up from the previous 52-week high last week of $2.50. It traded as low as $1.77 in May 2010.

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