With its quarterly earnings report scheduled for Thursday, pizza powerhouse, Domino's, turned in an all-time high performance in trading last week, closing Friday at a new high of $398.31, up $32.50 from the previous week's closing value. Across the course of the stock's 16 years of public trading, Friday was a new pinnacle for the brand's value and perhaps a sign of the optimism investors have about the Ann Arbor, Michigan-based company's performance over the last quarter, which has surely been one of the most challenging in for all restaurants nationally.

At the other end of the proverbial stock seesaw, Pizza Inn and Pie Five parent company, Rave Restaurant Group, hit a new low at the close of trading last Friday shortly after investors learned the company is in danger of being delisted on the Nasdaq due to its flagging performance. On Friday, Rave closed down 4 cents to an all-time low over its nearly 27-year history of public trading, at 69 cents.

The two other publicly traded pizza restaurant players followed here weekly, both did well last week. Papa John's International Inc. closed up $5.14 at $88.80. At Yum Brands, the parent company of Papa John's fellow Louisville, Kentucky-based pizza competitor, Pizza Hut, traders also smiled on the business by raising its value 68 cents to close Friday at $88.80.

Cheese

Cheese trading prices trended mostly higher last week, with barrels closing at $2.34, while 40-pound blocks ended at $2.92. The weekly average for blocks was up nearly 14 cents to $2.78, while barrels averaged $2.38, down almost 3 cents.

Throughout the country, cheese production has declined, in line with lower seasonal farm milk intakes. Sales into the retail and food service sectors are mixed, as these sectors continue facing unique situations with COVID-19, according to the U.S. Department of Agriculture.

Nevertheless, the start of the second phase of the food box program is helping to boost the cheese industry, according to some cheese market stakeholders. Some producers continue to rely on cheese curd sales; thus, curd production has been the current productive focus for these cheese makers.

The market tone could be describe as unsettled as this moment. Cheese inventories are reported as steady to tight. Additionally, the gap between Chicago Mercantile Exchange cheese prices for barrels and blocks remains fair fat at 40 cents.

Wheat

In wheat trading last week, prices were mixed to mostly higher, with hard red mixed to a penny higher, while Kansas City hard red winter was down 3 cents to 5 cents on the week. September Chicago soft red winter futures climbed more than 10 cents to $5.35, while September Kansas City hard red winter futures fell 3 cents to 5 cents.

According to the U.S.D.A., the wheat situation across the nation is plentiful with good supplies and stocks, though less domestic use of the grain. The average farm price for the season for wheat was reported to be steady at $4.60 per bushel.

Auto fuel

Last week, the American Automobile Association reported that gas prices held steady at $2.18 per gallon of unleaded nationally, up just a penny from the previous week. That price is 13 cents higher than a month ago, but still 56 less than what we paid last year at this time.

The U.S. Energy Information Administration reported that gas demand increased slightly to 8.77 million barrels a day, from 8.56 million b/d last week. According to AAA, the generally steady price indicates that gas supply and demand are well-matched nationally at the moment. A continuation of that trend could allow gas prices to largely hold steady for July.

The largest weekly increases in the price of a gallon of unleaded nationally were in the nation's capitol, where prices grew 5 cents on the week, followed by Ohio and Wisconsin, where prices rose 4 cents over the period and California, South Dakota, Oregon and Illinois, where prices increased 3 cents on the week.

Today's reported average price for a gallon of regular unleaded nationally was $2.20, up 2 cents from a week ago and 10 cents from last month. Mid-grade ($2.54) and premium ($2.80) trended similarly. The average price for diesel this morning was $2.44, which was even with last week, but 2 cents higher than a month ago. E85 averaged $2.04 this morning, up a nickel from last week and 10 cents from last month at this time.

Natural gas

Natural gas spot prices rose at most locations for the report week that ended on June 24. The Henry Hub spot price rose from $1.48 per million British thermal units (MMBtu) to $1.58/MMBtu over that same period.

At the New York Mercantile Exchange, the price of the July 2020 contract decreased 4 cents, from $1.64/MMBtu to $1.60/MMBtu yesterday. The price of the 12-month strip averaging July 2020 through June 2021 futures contracts declined 8 cents/MMBtu to $2.286/MMBtu.

Working natural gas stocks totaled 3,133 Bcf, which is 28% more than the year-ago level and 17% more than the five-year (2015–19) average for this week. The natural gas plant liquids composite price at Mont Belvieu, Texas, rose by 1 cent/MMBtu, averaging $4.43/MMBtu for the week.

The prices of ethane, butane, and isobutane fell by 4%, 3%, and 1%, respectively. The prices of natural gasoline and propane rose by 5% and 4%, respectively. The continuing drop in the natural gasoline price reflects stock overbuild, according to the U.S. Energy Information Administration.

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