Article

Wheat prices fall below $7 mark

Cheese prices rise sharply to close out last week.

June 9, 2014 by Alicia Kelso — Editor, QSRWeb.com

Wheat prices continued to tumble last week and are nearly $1 lower than they were a month ago. Conversely, after falling for nearly a month, cheese prices rose sharply at the end of last week.

Here's a glimpse at the market this week:

Cheese

After falling for four weeks, cheese prices inched up last week on the Chicago Mercantile, averaging $2.01, from $1.98 the week prior.

Last week, prices closed at $1.96 Monday, $1.97 Tuesday, $2.03 Wednesday and $2.05 on Thursday and Friday.

Wheat

The average cost of wheat has fallen under $7, averaging $6.93 from $7.14 the week prior. Wheat was near the $8 mark a month ago.

Wheat remains significantly higher than it was in the beginning of the year, when the cost sat at about around $6.02.

Last week, prices closed at $6.97 Monday, $6.84 Tuesday, $6.89 Wednesday, $6.90 Thursday and $7.09 on Friday.

Gasoline and diesel fuel

The nationwide average price for regular unleaded fuel is $3.65, down a penny from $3.66 a week ago. According to the AAA and the Oil Price Information Service, prices a month ago were $3.66.

Last year at this time, consumers were paying $3.63 at the pump.

Today's mid-range unleaded is $3.84, down from $3.85 the week prior. Premium gas is $4.01, from $4.02.

Diesel fuel prices are averaging $3.90, down from $3.91. The price of diesel fuel was $3.94 a month ago, and $3.85 a year ago.

Natural Gas

Natural gas spot prices decreased slightly yesterday, but ended slightly higher for the report week (May 28 to June 4). The Henry Hub spot price averaged $4.57/MMBtu June 4, an increase of 3 cents/MMBtu over May 28's $4.54/MMBtu average.

At the New York Mercantile Exchange, the July 2014 contract moved into the near-month position May 29. It increased by 13.5 cents/MMBtu for the report week, from $4.615/MMBtu May 28 to $4.640/MMBtu June 4.

Pizza company stocks

Shares of Pizza Hut parent Yum! Brands Inc. closed out last week at $79.11, up big from $76.72 the week prior and $74.87 two weeks ago. The company hit a new 52-week high last week at $79.99. Its 52-week low was a year ago at $64.08.

Domino's finished last week at $73.31, up from $72.47 the week prior. DPZ hit a new lifetime high in March at $80.61. The company's 52-week low was $55.75 a year ago.

Papa John's shares finished last week at $43.20, up slightly from $43.13 the week prior. PZZA hit its 52-week high in March at $55. Its low of $31.50 was a year ago.

Pizza Inn Holdings closed out last week at $5.95, down from $6.14 the week prior. The company's 52-week high was $9.09 a year ago. It traded as low as $4.80 last year.

Papa Murphy's closed out Friday at $9.97, up from $9.86 the week prior in just its second month on the NASDAQ market under the FRSH symbol. Its high/low is $12.10 and $8.93, respectively.

_{Photo provided by Pixabay.}

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