As weeks go, Thanksgiving week was a pretty good one for most of the large U.S. publicly traded pizza brands, with publicly traded pizza stock values largely on the upswing. Although, Pizza Hut parent, Yum Brands, continued a weeks-long downward trend, its major competitors were largely giving thanks as they dipped into the turkey and dressing.
Domino's Pizza, Inc. added $8.54 in value over the shorter trading week to close Friday at $294.30, while Louisville, Kentucky-based competitor, Papa John's was up $1.77 on the trading week to close at $63.28. Multi-brand pizza parent company, Yum Brands also posted gains on the week, closing up $3.05 to end the week at $100.67 Friday.
In fact, just Pizza Inn and Pie Five parent company, Rave Restaurant Group, lost value over the week, closing down $10 on the week, to end Friday at $1.71.
Cheese
Cheese prices last week trended up slightly following weeks of falling values, though Parmesan and Romano cheeses continued to decline, according to the U.S. Department of Agriculture's Dairy Market News Service. Overall last week, barrels averaged $2.19, up 3 cents on the week, while blocks averaged about 8 cents higher on the week at $1.93.
Barrels closed the short week's trading activity at $2.25, while 40-pound blocks came in at $1.96 on the Chicago Mercantile Exchange, the U.S.D.A. said.
Since early November, block prices have continued to drop, creating a large block/barrel market spread. Since mid-November, barrel prices have started to edge lower also and the U.S.D.A. said that cheese market tones are shaky after a near-historic run-up earlier in the fall.
Cheese demand has also quieted, as buyers have taken a wait-and-see approach, according to U.S. agricultural authorities. As far as cheese stocks, Western U.S. block and barrel producers report plentiful stocks, but in the Midwest, supplies have run tighter in supplies for recent months.
Finally, U.S. domestic prices for blue Parmesan and Romano have fallen 9 cents, while other foreign-type cheese prices have remained steady. Overall, Parmesan ranged from $3.75 to $5.84, while Romano was priced from $3.55 to 5.71, the U.S.D.A. reported.
Wheat
Wheat prices came in steady to 14 cents higher last week, with wheat export sales showing an increase of 22.5 million bushels for 2019-20. Kansas City U.S. No. 1 Hard Red Winter, ordinary protein rail bid was 7 1/2 cents higher, from $5.33 1/2-$5.43 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 14 cents higher, at $5.68 per bushel, while Minneapolis and Duluth U.S. No. 1 Dark Northern Spring, 14 to 14.5 percent protein rail, was not quoted. Portland U.S. Soft White wheat rail was steady to 5 cents higher, from $5.85-$5.95 per bushel.
Vehicle fuel
Though last week's gas prices were only about 2 cents over the previous year's for Thanksgiving week, at $2.59, the American Automobile Association said that last week a majority (61%) of all U.S. gas stations in the were selling regular unleaded for $2.50 or less. On the week, gas prices were flat.
Some of the least expensive markets for gas last week were Louisiana ($2.21), Mississippi ($2.22), Texas ($2.25), Missouri ($2.25), Alabama ($2.27), Oklahoma ($2.28), South Carolina ($2.28), Arkansas ($2.29), Tennessee ($2.30) and Virginia ($2.31), AAA said.
The current national average price for a gallon of regular unleaded is $2.59, even with the previous week and even down a couple of cents from a month ago. The same held true for mid-grade ($2.93) and premium ($3.19), although the average price of a gallon of diesel was steady at $3.01, while E85 was actually a cent from last month at $2.32.
Natural gas
For the seven days that ended on Wednesday, Nov. 20, the U.S. Energy Information Administration reported that matural gas spot prices were mixed. The Henry Hub spot price fell from $2.62 per million British thermal units (MMBtu) to $2.47/MMBtu over that period.
At the New York Mercantile Exchange, the price of the December 2019 contract dropped 4 cents from $2.60/MMBtu to $2.56/MMBtu over the seven days, while the price of the 12-month strip, averaging December 2019 through November 2020 futures contracts, declined 6 cents/MMBtu to $2.427/MMBtu.
The net withdrawal from working gas totaled 94 billion cubic feet (Bcf) for the week ending Nov. 15. Working natural gas stocks total 3,638 Bcf, which is 16% more than the year-ago level and 2% lower than the five-year (2014-18) average for this week.
The natural gas plant liquids composite price at Mont Belvieu, Texas, rose by 9 cents/MMBtu, averaging $5.78/MMBtu for the period. The price of isobutane fell by 2%. The prices of ethane, natural gasoline, and propane rose by 1%, 2%, and 4%, respectively. The price of butane remained flat week over week.
According to Baker Hughes, for the week ending Tuesday, Nov. 12, the natural gas rig count decreased by one to 129. The number of oil-directed rigs fell by 10 to 674. The total rig count decreased by 11, and now stands at 806.
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December 02, 2019 at 08:06PM
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