Article

Wheat prices spike as gas falls

Wheat prices increased after weeks of decreasing prices.

October 13, 2014 by Nicole Troxell — Associate Editor, Networld Media Group

Wheat prices increased after weeks of decreasing prices; cheese prices dropped slightly again last week. And gas prices continue to lower. 

Here's a glimpse at the market this week.

Cheese

Cheese prices fell again last week on the Chicago mercantile, averaging $2.16, from $2.18 the week prior and $2.34 two weeks ago.

Prices closed at $2.15 on Monday, $2.16 Tuesday, $2.16 Wednesday, $2.16 Thursday, and $2.19 on Friday.

Wheat

Wheat prices rose nearly 20 cents last week after weeks of steadily dropping prices on the Minneapolis Grain Exchange. Last week’s average was $5.57, from $5.36 the week prior.

Last week’s prices closed at $5.51 Monday, $5.65 Tuesday, $5.65 Wednesday, $5.53 Thursday and $5.53 on Friday.

Gasoline and diesel fuel

Monday's nationwide average for regular unleaded gasoline was $3.19, down from $3.28 the week prior. Gas prices were $3.40 a month ago. Consumers were paying $3.34 at the pump this time last year, according to AAA and the Oil Price Information Service.

Mid-range unleaded was $3.40 on Monday, while the premium unleaded price was $3.66.

The nationwide average for diesel fuel was $3.67, down from $3.71 the week prior. Diesel prices are also down from $3.78 a month ago and $3.87 a year ago.

Natural Gas

Spot prices fell early in the report week (October 1 to October 8) and ended the week lower overall. The Henry Hub spot price fell from $4.14/million British thermal units (MMBtu) to $3.88/MMBtu, a decline of $0.26 over the week.

At the New York Mercantile Exchange (Nymex) the near-month (November 2014) contract started the report week at $4.023/MMBtu and settled at $3.855/MMBtu October 8.

Pizza company stocks

Shares in Pizza Hut parent Yum! Brands Inc. closed out last Friday at $69.31, down more than $2 from the week prior, when shares closed at $71.51. Yum’s 52-week high of $83.58 was reached in July. Its low of $64.08 was a year ago.

Domino's finished last week at $76.41, down a bit from $77.58 the week prior. DPZ hit its 52-week high of $80.61 in March. The company’s 52-week low of $64.89 was a year ago.

Papa John's finished out last week at $40.00, down slightly from $40.78 the week prior. PZZA’s 52-week high of $55 was in March. Its low of $35.35 was a year ago.

Pizza Inn closed out last week at $7.31, down from $8.05 the week prior. The company’s 52-week high is $9.09, achieved in November 2013. Its low is $5.38 in March.

Shares in Papa Murphy's closed last week at $9.22, down from $9.57 the week prior. In its sixth month on the NASDAQ, FRSH’s high/low is $12.10/$8.08, respectively.

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