News
Commodities update -- Week of Oct. 12
October 11, 2009
Block cheese prices on the Chicago Mercantile Exchange rose to their highest levels in about 11 months last week, averaging slightly under $1.47 per pound, up 5 cents from the previous week's high. Block cheese closed at just over $1.44 per pound Monday, $1.45 on Tuesday, $1.46 on Wednesday, $1.48 on Thursday and $1.50 on Friday. Friday's price was the highest close for block cheese since Dec. 17, 2008. Prices are off 38 cents, or 21 percent, compared with this time last year, when block cheese averaged $1.85 per pound. Wheat Wheat for December delivery closed at $5.04 per bushel Friday on the Minneapolis Grain Exchange, up from the previous week's close of $4.78. Prices for wheat for December delivery closed at $4.81 per bushel on Monday, just under $4.97 per bushel on Tuesday, just under $4.96 per bushel Wednesday and $5.06 per bushel Thursday. Gasoline and diesel fuel The nationwide average for regular unleaded gasoline was $2.48 per gallon Oct. 12, according to AAA and the Oil Price Information Service, off 4 cents from the previous week. Prices are off 4 percent from an average of $2.58 per gallon a month ago and off 23 percent from an average of $3.24 per gallon this time last year. Mid-range unleaded currently averaged $2.64 per gallon while premium unleaded stood at $2.73 per gallon, as of Oct. 12. The nationwide average price for diesel fuel stood at $2.63 per gallon Oct. 12, 1 cent up from last week. Diesel prices are off 32 percent from an average of $3.87 per gallon this time last year. Natural gas Natural gas prices rose across the board last week, with increases ranging between 37 cents and $1.32 per million Btu, according to the Energy Information Administration. Natural gas prices oscillated by large amounts at most market locations across the United States. The Henry Hub began the report week at $3.24 per MMBtu, fell to $2.32 on Oct. 2, and ended trading last Tuesday at $3.70 per MMBtu. Pizza company stocks Shares in Pizza Hut parent Yum! Brands Inc. closed at $35 on Oct. 9, up $1.85 compared with the previous week's close of $33.15. YUM traded at a 52-week high of $36.96 in June 2009 and a 52-week low of $21.50 in November 2008. Domino's closed at $8.90, up 39 cents compared with the previous Friday's close of $8.41. Over the past 52 weeks, DPZ has traded as high as $10.08 in October 2008 and as low as $2.61 in November 2008. Papa John's stock closed at $24.37, up $1.13 compared with the previous Friday's close of $23.24. PZZA traded at a 52-week high of $29.25 in May 2009 and a 52-week low of $12.78 in November 2008. Shares in CEC Entertainment Inc., parent company of Chuck E. Cheese restaurants, closed at $26.19, up $1.31 compared with the previous week's close of $24.88. CEC traded at a 52-week high of $34.77 in July 2009 and a 52-week low of $12.96 in November 2008. California Pizza Kitchen closed at $16.07 on Oct. 9, up $1.69 compared with the previous week's close of $14.38. CPKI has traded as high as $17.44 in mid-April and as low as $5.24 in November 2008. Pizza Inn closed at $1.74 on Oct. 2, up 14 cents compared with the previous week's close of $1.60. PZZI traded at a 52-week high of $2.72 in October 2008 and a 52-week low of 98 cents in April 2009.
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