Aside from Domino's, which jumped in value last week, most pizza restaurateurs had little to celebrate last week in either trading of their own brands or prices paid on the commodities market. Gas, alhough falling over the last week in price, remains 40 cents higher this year than last year. Wheat is moving up in prices paid, as well.
Cheese prices were down last week, dropping 3 cents from $1.64 at the market's close on Sept. 8, to $1.61 last Friday.
Compared to last week, wheat prices jumped as December Chicago wheat remained in a short-term uptrend. Wheat's long-term forward curve reflected a bearish supply and demand situation, according to the USDA Missouri Department of Agricultural Market News Service.
Weekly export sales and shipments for wheat showed a total of 11.6 million bushels and 16.1 million bushel, respectively, for the 2017-2018 marketing year. These numbers could be viewed as neutral for wheat.
Kansas City U.S. No. 1 Hard Red Winter, ordinary protein rail bid was 1/4 to 30 1/4 cents higher from $4.32-$5.87 per bushel. Kansas City U.S. No. 2 Soft Red winter rail bid was not quoted. St. Louis truck U.S. No. 2 Soft Red Winter terminal bid was 16 cents higher from $4.33-$4.38 per bushel.
Minneapolis and Duluth U.S. No. 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 27 1/4 cents lower from $6.97 1/2-$7.02 1/2 per bushel. Portland U.S. Soft White wheat rail was steady to 15 to 20 cents higher from $5.10-$5.35 per bushel.
Gasoline and diesel fuel
Regular Mid-Grade Premium Diesel
Current Avg. $2.623 $2.893 $3.137 $2.719
Week Ago Avg. $2.668 $2.921 $3.161 $2.713
Month Ago Avg. $2.341 $2.621 $2.866 $2.528
Year Ago Avg. $2.200 $2.460 $2.700 $2.357
Natural gas spot prices rose at most locations this report week ( Sept. 6-13). The Henry Hub spot price rose from $2.93 per million British thermal units (MMBtu) last Wednesday to $2.99/MMBtu yesterday. As a cool weather front moved across the country into the Northeast, prices dipped at most trading locations on Friday, but they generally rebounded by the end of the week.
At the New York Mercantile Exchange (Nymex), the October 2017 contract price rose 6 cents from $3.000/MMBtu last Wednesday to $3.058/MMBtu yesterday.
Net injections to working gas totaled 91 billion cubic feet (Bcf) for the week ending Sept. 8. Working natural gas stocks total 3,311 Bcf, which is 5 percent less than the year-ago level and 1 percent more than the five-year (2012–16) average for this week.
The natural gas plant liquids composite price at Mont Belvieu, Texas, rose by 23 cents, averaging $7.33/MMBtu for the week ending Sept. 13. The prices of natural gasoline, ethane, propane, and butane rose by 3, 6, 4 and 2 percent, respectively. The price of isobutane remained flat week over week.
According to Baker Hughes, for the week ending Friday, Sept. 8, the natural gas rig count increased by 4 to 187. The number of oil-directed rigs fell by 3 to 756. The total rig count increased by 1, and it now stands at 944.
Pizza company stocks
On the New York Stock Exchange Friday, Domino's Pizza closed at $194.68, up a healthy $8.27 cents from the previous week's closing price of $186.41. Over at the NASDAQ, Papa John's hit $72.65 at the close of trading Friday, up slightly from $72.54 the previous Friday,
Meanwhile, Pizza Hut parent, Yum! Brands, closed at $75.25 Friday, down from $76.48 a week earlier, while take-and-bake franchise, Papa Murphy's hit $5.14 at the close Friday, down from $5.22 at the previous week's close.
Award-winning veteran print and broadcast journalist, Shelly Whitehead, has spent most of the last 30 years reporting for TV and newspapers, including the former Kentucky and Cincinnati Post and a number of network news affiliates nationally. She brings her cumulative experience as a multimedia storyteller and video producer to the web-based pages of Pizzamarketplace.com and QSRweb.com after a lifelong “love affair” with reporting the stories behind the businesses that make our world go ‘round. Ms. Whitehead is driven to find and share news of the many professional passions people take to work with them every day in the pizza and quick-service restaurant industry. She is particularly interested in the growing role of sustainable agriculture and nutrition in food service worldwide and is always ready to move on great story ideas and news tips.