Tyson Sees Beef Plant Return in a Few Months -- Market Talk
11:11 ET - Tyson Foods' fire-damaged beef-processing plant will likely be back online by January, CEO Noel White says, and some processing has already resumed in a portion of the plant untouched by last month's fire. "The volume loss has been somewhat minimal," White says at an investor event, as Tyson has shifted some cattle processing to another Kansas plant and other facilities, but transporting cattle and meat longer distances adds costs. Live-cattle futures, which sank after news of the fire, are down 0.3%. Tyson's plant processes roughly 5% of US beef. Tyson is off 5.9% after cutting guidance yesterday afternoon. (firstname.lastname@example.org; @jacobbunge)
Vast Majority of Food Companies Don't Measure GHG Emissions: FAIRR -- Market Talk
1305 GMT - The vast majority of food companies don't disclose their greenhouse gas emissions or have meaningful targets to lower them, says Farm Animal Investment Risk & Return, a research group for investors. Some of the worst-performing companies not working on their emissions include India's Venky's and America's Cal-Maine Foods, FAIRR says. "The fact that over three-quarters of major meat, fish and dairy producers are not fully tracking emissions, or reporting on issues such as water use and deforestation, presents a challenge to investors in evaluating investment risks and opportunities," says Karianne Lancee, sustainable investing research analyst at UBS, which uses FAIRR's data. (email@example.com; @dieterholger)
STORIES OF INTEREST
Hormel Launches 'Happy Little Plants' Meat Alternative Brand -- Update
Hormel Foods Corp. (HRL) has launched the Happy Little Plants brand of "plant-forward" products, including a flagship ground soy-based item that can be used like ground beef.
Initially available at certain Hy-Vee Stores, Happy Little Plants will expand in the coming months. Hormel said "numerous retailers and foodservice operators have expressed interest."
Kellogg Tees Up Incogmeato, A New Alternative-Meat Line -- Market Talk
12:10 ET - Kellogg is planning to roll out new alternative-meat products under what it is calling the MorningStar Farms Incogmeato brand, according to CEO Steve Cahillane. "We're planning a line that extends across multiple segments. So think about meat replacement, think about chicken replacement," he says at the Barclays consumer products conference. "It is a real meat-like experience." Kellogg isn't alone in working to step up its alternative-meat offerings amid growth at Beyond Meat and Impossible Foods. Conagra Brands has said it wants to grow its Gardein meat-alternative brand. (firstname.lastname@example.org; @MicahMaidenberg)
Hogs Finish Higher, Cattle Breaks Lower -- Market Talk
15:31 ET - Lean hog futures on the CME finished 0.9% higher on Wednesday, at 67.125 cents per pound. For hogs, it's the second day in a row that the contract has risen, on the back of pricing strength in China due to the toll of African swine fever on its pig population. Since Tuesday, hog futures have risen nearly 5%. Meanwhile, cattle futures fell after posting a small upturn Tuesday, falling 0.3% to 99.025 cents per pound. Cattle prices have not peered above the $1.00 per pound mark since last week. (email@example.com; @kirkmaltais)
Estimated U.S. Pork Packer Margin Index - Sep 4
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
Sep 4 +$ 33.69 +$ 27.30
Sep 3 +$ 35.48 +$ 31.28
Aug 30 +$ 27.91 +$ 24.09
* 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 109.4
(Percent of Year-Ago) Select 103.3
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Wednesday fell 1 cent per hundred pounds, to $230.65, according to the USDA. Select-grade prices fell $2.67 per hundred pounds, to $208.95. The total load count was 141. Wholesale pork prices fell $1.85, to $73.10 a hundred pounds, based on Omaha, Neb., price quotes.