Rave continues to roll for profitable trading week | Merchandise
Rave Restaurant Group is on a roll, gaining share value over the past two weeks.
Investors are clearly bracing for the idea of donating when it comes to their favorite pizza brands, and this could apply doubly to Pizza Inn and Pie Five’s parent company, Rave Restaurant Group, which has had another week of particularly good negotiation. It wasn’t the only one, however, as Papa John’s, Domino’s and Yum Brands also improved their value for the trading period that ended on December 11.
Dallas-based Rave Restaurant Group, however, managed the largest percentage increase of the week, gaining another nickel in value over the five trading days to close at $ 1.01 on Friday, a level it didn’t hasn’t reached since before the pandemic became a real nightmare in the United States in early March.
Papa John’s also gained a nice bump, closing Friday at $ 84.83, up nearly $ 4 from the previous week’s closing price of $ 80.86. Unlike the other three brands monitored here, Papa John’s has just climbed and exceeded its pre-pandemic prices, which, for example, fell to $ 38.72 on March 11, just as the virus was starting to appear in the world. United States.
Domino’s also managed a small increase last week to $ 383.37 Friday at the close, from $ 382.99 at the close the previous Friday. Finally, Pizza Hut’s parent company Yum Brands also saw a slight increase in value, closing at $ 105.99 on Friday, from $ 105.86 a week earlier.
In the cheese trade last week, barrel and block prices rose, with barrels rising on average to $ 1.42, while 40-pound blocks averaged $ 1.63 for the week. Barrels closed at $ 1.44 and blocks finished at $ 1.62 on Friday. according to the US Department of Agriculture.
Sales of pizza cheese are strong in the West and Midwest as some customers have returned to light the more stable tones of the market, the USDA said. But Midwestern cheese curd producers are seeing less interest in the face of increasing restaurant closures and restrictions there. Demand for foodservice, in general, is weak with little optimism expected in the near term, the USDA said. In general, the tones of the cheese market stabilized after a particularly bearish November.
U.S. wheat prices ended near $ 6.15 a bushel as markets closed on Friday, as prices generally tended to rise amid rumors that Russia may levy an export tax on the market. wheat was disclosed. On the Minneapolis Grain Exchange, March red spring firm futures rose 19 cents to close at $ 5.70 a bushel, while on the Chicago Board of Trade, red soft wheat futures of March winter gained 39 cents to end at $ 6.14 / bushel.
In Kansas City, March’s hard red winter futures rose 38 cents to close at $ 5.18 a bushel. The USDA predicts that total world wheat consumption in 2020/21 will increase by 1% from last year to a record 758 million metric tonnes.
Demand for automotive fuel continues to decline, according to the American Automobile Association, which said this fact continues to keep the essential company’s prices relatively low. Since Monday, the national average for a gallon of regular gasoline has fallen by one cent to $ 2.15, a dime lower than around the same time last week and 4 cents lower than last month, AAA said .
The US Energy Information Administration reported that last week gas demand fell from 7.97 million barrels per day (b / d) / d to 7.6 million b / d last week. – the lowest weekly estimate since the end of May. This fact, combined with an increase in national stocks, is keeping prices on course.
The biggest weekly state-by-state changes last week were led by Ohio, where gas prices fell by a penny a gallon last week, followed by a drop of 8 cents in Indiana and 7 cents in Michigan.
This morning, the average price of a gallon of regular unleaded gasoline was $ 2.16 at the time of this writing, which is equal to last week and 3 cents more than last month. Mid-size and super fuels were flat with their prices a week earlier averaging $ 2.51 and $ 2.78 respectively.
Diesel this morning averaged $ 2.47, up 2 cents from the previous week and 8 cents from the previous month. E85 came in at $ 1.95 today, flat with last week and last month.
Spot prices for natural gas fell in most places during the last 7-day benchmark period that ended on December 9. The Henry Hub spot price fell from $ 2.70 per million British thermal units (MMBtu) to $ 2.45 / MMBtu for the period, according to the US Energy Information Administration.
At the New York Mercantile Exchange, the January 2021 contract price fell 34 cents to $ 2.44 / MMBtu, the 12-month strip price, on average from January 2021 to December 2021, futures contracts down 20 cents / MMBtu at $ 2.58 / MMBtu. .
The composite price of liquids from natural gas plants in Mont Belvieu, Texas, fell 5 cents / MMBtu, averaging $ 5.39 / MMBtu for the period. The prices of ethane, isobutane and butane fell by 6%, 7% and 9% respectively. Prices for natural gasoline and propane increased by 4% and 5% respectively.