THE HEDGEYE BREAKFAST MENU
Notable MACRO data points, news items, and price action pertaining to the restaurant space.
CatteNetwork – “Retail beef prices rose in November for the fourth consecutive month and set a new record for the third consecutive month. The average price of choice beef in grocery store meat cases in November was $5.001 per pound. That was up 6.8 cents from the October record and up 51.7 cents from November 2010. The average retail price of all fresh beef also was record high at $4.504 per pound in November. Since the per capita beef supply is expected to be 4-5% lower in 2012, many more months of record retail beef prices are likely in the coming year.”
MCD - With the Year's Trading Nearly Complete, McDonald's Tops All Dow Jones Industrial Average Component Stocks With 2011 Gain of 30.47%
WEN - re-entered the Japanese market after pulling out of the country in 2009, with plans to open 100 restaurants in the next five years.
EAT – Up last Friday on accelerating volume