Brazil Judge Bars JBS's Batista Brothers From Key Shareholder Vote -- 2nd Update
SAO PAULO -- Wesley Batista, chief executive officer of meatpacking company JBS SA, won a respite from efforts by some shareholders to oust him after a Brazilian judge suspended Friday a shareholder meeting scheduled for the same day.
The 15-day suspension by federal Judge Giselle de Amaro e Franca followed a decision Thursday night by another judge barring Mr. Batista, who has admitted paying bribes to government officials to get favors for his companies, from voting on proposals that could lead to his removal.
STORIES OF INTEREST
Canadian Grocers Hit Amid Incoming Amazon Delivery Service -- Market Talk
13:10 ET - Canadian grocers fall on news that Amazon's (>> Amazon.com) grocery delivery service could be coming to Canada later this year. The WSJ reported late Thursday that Amazon Prime Now, the Seattle-based online retailer's one- and two-hour membership delivery service, will arrive in Toronto and Vancouver within the next six months. That's pushed Loblaw's (>> Loblaw Companies Ltd), Canada's biggest grocer, to a midday decline of 3.1%, while Empire (EMP.A.T), which owns Sobeys and Safeway, is down 4.3%. TSX's consumer staples group is also one of the market's biggest decliners of the day, falling 1.1%. (email@example.com; @itsdgc)
Livestock Futures Mixed to Start Month
Livestock futures were mixed in a quiet session.
Live cattle futures for October delivery fell 0.2% to $1.0515 a pound at the Chicago Mercantile Exchange. Later-month contracts rose.
Estimated U.S. Pork Packer Margin Index - Sep 1
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
Sep 1 +$40.36 +$50.17
Aug 31 +$38.94 +$48.88
Aug 30 +$38.36 +$51.23
Aug 29 +$37.54 +$51.87
* Based on Iowa State University's latest estimated cost of production.
A positive number indicates a processing margin above the cost of production of the animals.
This report compares the USDA's latest beef carcass composite
values as a percentage of their respective year-ago prices.
For Today Choice 97.4
(Percent of Year-Ago) Select 100.5
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Friday fell 56 cents per hundred pounds, to $191.35, according to the USDA. Select-grade prices fell 69 cents per hundred pounds, to $190.65. The total load count was 126. Wholesale pork prices rose 60 cents, to $83.74 a hundred pounds, based on Omaha, Neb., price quotes.