Article

Wheat steadily inching up

The commodity's future prices ascend to new highs.

September 12, 2010

Cheese

Block cheese prices rose slightly during the short week on the Chicago Mercantile Exchange, averaging just under $1.73 per pound, up 2 cents from last week.

Cheese prices are up 36 percent compared with last year, when they averaged $1.27 per pound.

Wheat

Wheat has been on a steady upward price climb, fueling concern of runaway futures prices in the wake of a Russian ban on grain exports.

Prices for wheat on the Minneapolis Grain Exchange closed at $7.43, a 1 cent increase from $7.42 the previous Friday.

Wheat prices closed at just under $7.39 on Tuesday, $7.19 per bushel Wednesday, and $7.43 per bushel Thursday.

Gasoline and diesel fuel

The nationwide average for regular unleaded gasoline was $2.71 per gallon Sept. 13, according to AAA and the Oil Price Information Service, up 3 cents from the previous week’s average of 2.68. Prices are off 2 percent from $2.76 per gallon a month ago and up 7 percent from an average of $2.57 per gallon this time last year. Mid-range unleaded currently averages $2.88 per gallon while premium unleaded as of Sept. 13 stood at $2.98 per gallon.

The nationwide average price for diesel fuel stood at $2.96 per gallon Sept.13, relatively flat from the previous week. Diesel prices are up 11 percent from an average of $2.67 per gallon this time last year.

Natural gas

Price changes during the week were mixed, but in most areas, these changes were moderate, according to the Energy Information Administration. The Henry Hub price rose slightly from $3.73 per million Btu (MMBtu) on Wednesday, September 1, to $3.81 per MMBtu yesterday. The report week was shortened due to the Labor Day holiday.

Pizza company stocks

Shares in Pizza Hut parent Yum! Brands Inc. closed at $44.52 on Sept. 10, up 67 cents compared with the previous week's close of $43.85. Yum! traded at a 52-week high of $45.44 in Sept. 2010 and a 52-week low of $32.49 in October 2009.

Domino's closed at $13.86, up 32 cents compared with the previous Friday's close of $13.54. DPZ traded as high as $16.32 in April 2010 and as low as $7.09 in September 2009.

Papa John's stock closed at $25.41, up 25 cents compared with the previous Friday's close of $25.16. PZZA traded at a 52-week high of $28.84 in May 2010 and a 52-week low of $21.44 in December 2009.

Shares in CEC Entertainment Inc., parent company of Chuck E. Cheese restaurants, closed at $34.42, up 77 cents compared with the previous week's close of $33.65. CEC traded at a 52-week high of $41.79 in April 2010 and a 52-week low of $24.69 in October 2009.

California Pizza Kitchen closed at $16.32 on Sept. 10, down 16 cents from the previous week's close of $16.48. CPKI traded as high as $22.92 in April 2010 and as low as $12.29 in December 2009.

Pizza Inn closed at $1.85 on Sept. 10, down 2 cents from the previous week's close of $1.87. PZZI traded at a 52-week high of $2.20 in April 2010 and a 52-week low of $1.50 in December 2009.

(photo via Darren Hester)