It was a good week for most pizza brands monitored here last week, and in commodities prices were mixed.
Cheese prices dropped to their lowest point since mid-September, losing 7 cents in value over the course of trading between the break for Thanksgiving and last Friday when the commodity average $1.54.
Compared to last week, wheat was mixed, from 25 cents lower to 1 cent higher. Kansas City U.S. No. 1 Hard Red Winter, ordinary protein rail bid was 7 ½ cents lower from $4.60 1/2-$5.88 1/2 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 lower to 1 cent higher from $4.21-$4.39 per bushel.
Minneapolis and Duluth U.S. No. 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 15 to 25 cents lower from $7.31 3/4-$7.71 3/4 per bushel. Portland U.S. Soft White wheat rail was 4 3/4 to 15 cents lower from $5.13-$5.20 per bushel.
Gasoline and diesel fuel
Natural gas spot prices rose at most locations this report week, ending Wednesday, Nov. 29. The Henry Hub spot price rose from $2.93 per million British thermal units (MMBtu) last Wednesday to $3.06/MMBtu yesterday.
At the New York Mercantile Exchange (Nymex), the December 2017 contract expired Tuesday at $3.074/MMBtu. The January 2018 contract price increased to $3.179/MMBtu, up 12 cents Wednesday to Wednesday.
Net withdrawals from working gas totaled 33 billion cubic feet (Bcf) for the week ending Nov. 24. Working natural gas stocks are 3,693 Bcf, which is 8 percent lower than the year-ago level and 3 percent lower than the five-year (2012–16) average for this week.
The natural gas plant liquids composite price at Mont Belvieu, Texas, remained flat at $8.30/MMBtu. The price of ethane, butane, and isobutane fell by 1, 2 and 2 percent, respectively. The price of propane rose by 1 percent. The price of natural gasoline remained flat week over week.
According to Baker Hughes, for the period ending Nov. 22, the natural gas rig count decreased by 1 to 176. The number of oil-directed rigs rose by 9 to 747. The total rig count increased by 8, and it now stands at 923.
Pizza company stocks
Three of the four brands monitored here had a good week after Thanksgiving, while one remained flat in price over the trading week. Domino's had a good week, rising from 177.34 before the Thanksgiving break to $184.62 at the close Friday. The news was also good for Pizza Hut parent, Yum Brands which saw its value move from $79.18 at the holiday break to $83.40 last Friday at the close of trading.
Even Papa John’s managed to pull out of its recent plunge following CEO Schnatter’s ill-advised public comments on the NFL’s role in the company’s fortune, actually gaining in value, rising from $56.27 to $59.96 last Friday. In fact, only Papa Murphy’s failed to show strength last week, remaining flat from the previous week’s close at $6.29.
Topics: Financial News