Article

Wheat prices fall 32 cents in a week

Gas prices continue to drop from Independence Day spike.

July 21, 2014 by Alicia Kelso — Editor, QSRWeb.com

Wheat prices plummeted last week and are down more than 30 cents on average. Gas prices also continued to drop from the July 4 weekend spike, and are 11 cents lower than they were a month ago.

Here's a glimpse at the market this week:

Cheese

Cheese prices inched back up to $2 even last week on the Chicago Mercantile, after finishing below the $2 mark for two weeks in a row. The week prior’s average was $1.95.

Last week’s prices closed at $1.99 on Monday, $2 on Tuesday and Wednesday, and $2.02 Thursday and Friday.

Wheat

The cost of wheat fell more than 30 cents last week on the Minneapolis Grain Exchange, averaging $6.33, from $6.65 the week prior.

Wheat was near the $8 mark last quarter and was around $6.02 in the beginning of the year.

Last week, prices closed at $6.40 Monday, $6.30 Tuesday, $6.28 Wednesday, $6.37 Thursday and $6.30 on Friday.

Gasoline and diesel fuel

The nationwide average price for regular unleaded fuel is down to $3.57, down from $3.61 last Monday. According to the AAA and the Oil Price Information Service, prices a month ago were also $3.68.

Last year at this time, consumers were paying $3.67 at the pump.

Today's mid-range unleaded is $3.76, down from $3.80 the week prior. Premium gas is $3.94, from $3.97.

Diesel fuel prices are averaging $3.86, a 2-cent drop from $3.88 the week prior. The price of diesel fuel was $3.89 a month ago, and $3.87 a year ago.

Natural Gas

Natural gas prices generally fell at most market locations this report week (July 9 to July 15). The Henry Hub spot price declined from $4.15 per million British thermal unit (MMBtu) July 9 to $4.10 July 15.

At the New York Mercantile Exchange (Nymex), the price of the near-month futures contract (August 2014) fell from $4.170/MMBtu July 9 to $4.119/MMBtu July 15.

Pizza company stocks

Shares of Pizza Hut parent Yum! Brands Inc. closed out last week at $77.01, a big drop from $82.47 the week prior after the company’s Q2 earnings report. Yum! hit another fresh 52-week high prior to the report, at $83.58. Its 52-week low was a year ago at $64.08.

Domino's finished last week at $72.60, down from $73.70 the week prior. DPZ hit a new lifetime high in March at $80.61. The company's 52-week low was $58.67 a year ago.

Papa John's shares finished last week at $41.08, down from $42.02 the week prior. PZZA hit its 52-week high in March at $55. Its low of $32.78 was a year ago.

Pizza Inn Holdings closed out last week at $6.42, up from $5.97 the week prior. The company’s 52-week high was $9.09 a year ago. It also traded as low as $5.38 a year ago.

Papa Murphy's closed out Friday at $8.90, up slightly from $8.82 the week prior. In its third month on the NASDAQ, FRSH’s high/low is $12.10 and $8.32, respectively.

_{Photo provided by Wikipedia.}

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