The first full week of the dog days of August found most pizza brands wagging their tails, particularly Domino's and Papa John's, which saw bumps in value over the trading week. They weren't enough for Domino's to recover what it lost the previous week, however. Commodities meanwhile either waffled around their previous ranges or dropped in price last week.
After last week's relatively rapid rise in cheese prices, average bids this week stabilized. The price averaged at just below $1.70 on Friday, though it spiked on Tuesday to as much as $1.79. At the close of the previous trading week, the price was $1.76.
Compared to last week, wheat bids were lower. The USDA market report service said traders may be tired of selling and could buy into the wheat complex Friday. Thursday's weekly export sales figure for wheat was 5.3 mb (for the week ending July 27), which was bleak by any measure, the service said.
In commodities markets for wheat last week, Kansas City U.S. No. 1 Hard Red Winter, ordinary protein rail bid was 21 1/4 to 26 1/4 cents lower from $4.66 3/4-$5.34 3/4 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 22 to 23 cents lower from $4.57-$4.62 per bushel.
Minneapolis and Duluth U.S. No. 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 34 1/4 to 48 1/4 cents lower from $7.43 1/4-$8.17 1/4 per bushel. Portland U.S. Soft White wheat rail was 3 to 17 cents lower from $4.97 3/4-$5.27 per bushel.
Gasoline and diesel fuel
Regular Mid-Grade Premium Diesel
Current Avg. $2.347 $2.621 $2.867 $2.512
Yesterday Avg. $2.346 $2.619 $2.865 $2.510
Week Ago Avg. $2.316 $2.595 $2.841 $2.470
Month Ago Avg. $2.259 $2.548 $2.795 $2.446
Year Ago Avg. $2.123 $2.401 $2.640 $2.299
Natural gas spot price movements were mixed this report week (Wednesday, July 26 to Wednesday, August 2). The Henry Hub spot price fell from $2.92 per million British thermal units (MMBtu) last Wednesday to $2.77/MMBtu yesterday. At the New York Mercantile Exchange (Nymex), the August 2017 contract expired Thursday at $2.969/MMBtu. The September 2017 contract price decreased to $2.811/MMBtu, down 10 cents Wednesday to Wednesday.
The Henry Hub spot price fell 15 cents from $2.92/MMBtu last Wednesday to $2.77/MMBtu. At the Chicago Citygate, prices decreased 1 cent from $2.78/MMBtu last Wednesday to $2.77/MMBtu yesterday.
Prices at PG&E Citygate in Northern California fell 3 cents, down from $3.28/MMBtu last Wednesday to $3.25/MMBtu. The price at SoCal Citygate increased 34 cents from $3.22/MMBtu last Wednesday to $3.56/MMBtu.
Net injections to working gas totaled 20 billion cubic feet (Bcf) for the week ending July 28. Working natural gas stocks are 3,010 Bcf, which is 9 percent less than the year-ago level and 3 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 42cents, averaging $6.73/MMBtu for the week ending August 2. The price of natural gasoline, ethane, propane, butane, and isobutane all rose, by 6, 2, 9, 7 and 8 percent, respectively.
According to Baker Hughes, for the week ending Friday, July 28, the natural gas rig count increased by 6 to 192. The number of oil-directed rigs rose by 2 to 766. The total rig count increased by 8, and it now stands at 958.
Pizza company stocks
For Domino's last week's pain, was this week's gain. After falling 8 percent in value over the previous trading week, the brand rebounded this week, with the value of its stock gaining $13.93 over the week, closing at $196.79 last Friday. That's not the $214.22 the stock hit before the dive in price last Tuesday, but it's something.
Meanwhile, Papa John's also saw a significant jump in value last week on the Nasdaq, ending the week up $5.46 in value to $76.96 at the close Friday. That's up from $71.50 the previous Friday.
For Pizza Hut parent, Yum Brands, last week was relatively uneventful, if not slightly disappointing when the value of that stock dropped 2 cents over the course of the week to end at $75.03.
Finally, Papa Murphy's lost roughly 8 cents in value over the course of trading on the Nasdaq, ending the week $4.21 on Friday.
S.A. Whitehead 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.