Commodities: Prices down on some pizza ingredients

Commodities: Prices down on some pizza ingredients

Restaurateurs enjoyed lower costs last week on the commodities markets with cheese, vehicle fuel and some wheat prices falling, while two of the publicly traded pizza brands monitored by this website got votes of confidence from investors.


On Friday at the Chicago Mercantile Exchange, 40-pound blocks were down a half-cent to $1.49, while 500-pound barrels were up 2 1/2 cents to $1.2850. 


Compared to last week, cash bids for wheat were mixed, from 29 3/4 cents lower to 2 cents higher.  Kansas City U.S. No. 1 Hard Red Winter, ordinary protein rail bid was 24 cents lower, from $5.94 1/4-$6.09 1/4 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 1 to 2 cents higher, from $5.10-$5.20 per bushel. Minneapolis and Duluth U.S. No. 1 Dark Northern Spring, 14.0 to 14.5 percent protein rail, was 14 3/4 to 29 3/4 cents lower, from $6.87 3/4-$7.12 3/4 per bushel.  Portland U.S. Soft White wheat rail was steady to 18 cents lower, from $5.90-$6.00 per bushel. 

Vehicle fuel

Vehicle fuel prices continued to fall last week, with the average price of a gallon of regular at $2.85 this morning, down 4 cents from last week and 13 cents from last month. Prices, however, are still higher than last year's average of $2.27. 

The price decreases were not as significant for diesel or E85, but still down, with diesel averaging $3.17 today, down three 4 cents from a month ago, and E85 averaging $2.39 today, down 9 cents from a month ago. 

Natural gas

Natural gas spot prices rose at most locations for the seven-day period ending Wednesday, June 20. The Henry Hub spot price rose from $2.94/MMBtu last Wednesday to $2.95/MMBtu yesterday.

At the New York Mercantile Exchange, the July 2018 contract price remained flat Wednesday to Wednesday at $2.964/MMBtu. Net injections to working gas totaled 91 Bcf June 15. Working natural gas stocks are 2,004 Bcf, ,which is 27 percent lower than the year-ago level and 20 percent lower than the five-year (2013-17) average for this week.

The natural gas plant liquids composite price at Mont Belvieu, Texas, fell by 15 cents, averaging $8.36/MMBtu for the seven days, ending June 20. The price of natural gasoline, propane, butane, and isobutane fell by 4, 2, 4 and 2 percent, respectively. The price of ethane rose by 2 percent.

According to Baker Hughes, on June 12, the natural gas rig count had fallen by four over the week, to 194. The number of oil-directed rigs rose by one to 863. The total rig count decreased by three, to 1,059.

Pizza company stocks

Domino's is definitely on a roll, experiencing a solid jump in values in trading on the New York Stock Exchange. It increased $15.05 over the five-day trading period to close Friday at $292.39. 

Joining the Domino's execs at the party were Papa John's leadership after that stock jumped $3.02 over the week's trading on the NASDAQ, bringing the closing value Friday to $54.33.

Not so fortunate during last week's trading activity were Pizza Hut parent, Yum Brands, and take-and-bake brand, Papa Murphy's. The former closed Friday $2.26 to wrap the week at $80.36 Friday for Yum. Meanwhile, Papa Murphy's also fell over the week, down 37 cents to close Friday at $5.09. 

Photo: iStock

Topics: Business Strategy and Profitability, Cheese, Delivery, Dough, Equipment & Supplies, Financial News, Food & Beverage, Trends / Statistics

Sponsored Links:

Related Content

Latest Content

Get the latest news & insights





Does your website throw up hurdles for disabled customers?