Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Commodities

News : Commodities
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 

LIVESTOCK HIGHLIGHTS: Top Stories of the Day

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/21/2019 | 05:13pm EST

TOP STORIES

Chicken Glut Weighs on Meatpackers -- Market Talk

10:38 ET - Meat stocks in a funk after analysts warn of a chicken glut. Overall poultry supplies are high, thanks to favorable weather over the summer and expansions at processing plants, which have pushed down prices, particularly for large-size broiler birds. Price erosion combined with upward pressure on feedgrains are chipping away at profit margins, and while African swine fever's hit to Asian hog supplies is still anticipated to boost meat demand and prices in the US, it's not yet clear when that'll start to kick in. Wary views from JPMorgan, Credit Suisse and Stephens push Tyson Foods down 1%, Sanderson Farms down 2% and Pilgrim's Pride off 0.3%. (jacob.bunge@wsj.com; @jacobbunge)

CFIA Updates Recall List; Some Beef Items Were Sold at Ontario Whole Foods Stores

The Canadian Food Inspection Agency, which is investigating possible E.coli contamination, has added some Whole Foods Market-branded beef items to a list of recalled products.

STORIES OF INTEREST

Fonterra Increases Farmgate Milk Price Forecast

Fonterra Co-Operative Group Ltd. said Tuesday it was raising its Farmgate Milk Price range forecast.

The cooperative said it anticipated prices in a range between NZ$6.55 ($4.20) and NZ$7.55 ($4.84) per kgMS. The previous forecast called for a range between NZ$6.25 and NZ$7.25

Fast-Food Chains Heat Up Breakfast Fight

The breakfast business is about to get even more crowded, as fast-food chains make a renewed push for the fickle morning customer.

Wendy's Co., which doesn't serve breakfast nationally after previous attempts floundered, is trying again. It joins Shake Shack Inc. and an increasing number of fast-food chains in trying to capture more business in the morning. McDonald's Corp., Burger King, and Dunkin' Brands Group Inc. also continue to make breakfast a priority.

Dunkin Goes National with Beyond Meat Sausages -- Market Talk

0902 ET - Dunkin' Brands says it will roll out breakfast sandwiches with plant-based sausage made by Beyond Meat nationally on Nov. 6. The item first tested in Manhattan in July became one of the coffee chain's top-selling sandwiches, the company says. Dunkin is placing a big bet in moving to more than 9,000 locations from 163 New York City stores when it started this summer. (heather.haddon@wsj.com; @heatherhaddon)

FUTURES MARKETS

Livestock Futures Finish Day Mixed -- Market Talk

15:05 ET - Live cattle futures on the CME finish trading 0.2% higher at $1.13875 a pound, continuing the rally of the past month and a half for another day. Cattle futures are now up 14% since Sept. 10, when the rally began. Helping support the rally in the short term was the prolonged outage of Cargill's Dodge City plant--which came back online at full capacity today. Meanwhile, hog futures on the CME fall 0.2% to 67.825c. (kirk.maltais@wsj.com, @kirkmaltais)

CASH MARKETS

 
Estimated U.S. Pork Packer Margin Index - Oct 21 
 
Source: USDA, based on Wall Street Journal calculations 
All figures are on a per-head basis. 
 
Date     Standard Margin       Estimated margin 
         Operating Index         at vertically - 
                             integrated operations 
 
Oct 21       +$ 38.92            +$ 37.60 
Oct 18       +$ 39.17            +$ 34.16 
Oct 17       +$ 29.26            +$ 32.50 
 
* 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. 
 
 
Beef-O-Meter 
This report compares the USDA's latest beef carcass composite 
values as a percentage of their respective year-ago prices. 
 
                                 Beef 
          For Today             Choice  105.9 
      (Percent of Year-Ago)     Select  100.1 
 
 
USDA Boxed Beef, Pork Reports 

Wholesale choice-grade beef prices Monday rose $2.09 per hundred pounds, to $220.13, according to the USDA. Select-grade prices rose $1.40 per hundred pounds, to $194.44. The total load count was 86. Wholesale pork prices rose $1.60, to $77.89 a hundred pounds, based on Omaha, Neb., price quotes.

Stocks mentioned in the article
ChangeLast1st jan.
CLASS III MILK FUTURES (DC) - CMG (ELECTRONIC)/C1 0.10% 20.18 End-of-day quote.44.76%
CLASS IV MILK?FUTURES (GDK) - CMG (ELECTRONIC)/C1 0.00% 16.73 End-of-day quote.10.72%
CREDIT SUISSE GROUP AG -0.23% 13.015 Delayed Quote.20.79%
DRY WHEY?FUTURES (DY) - CMG (ELECTRONIC)/C1 -1.64% 29.9 End-of-day quote.-37.02%
FEEDER CATTLE?FUTURES (GF) - CMG (ELECTRONIC)/C1 0.02% 147.6 End-of-day quote.-1.24%
JPMORGAN CHASE & CO. -0.35% 129.92 Delayed Quote.33.56%
LIVE CATTLE (LE) - CMG (ELECTRONIC)/C1 0.00% 119.875 End-of-day quote.-3.95%
MCDONALD'S CORPORATION -0.50% 192.64 Delayed Quote.8.49%
NONFAT DRY MILK FUTURES (GNF) - CMG (ELECTRONIC)/C1 0.00% 114.8 End-of-day quote.26.50%
SANDERSON GROUP PLC 0.00% 140.5 End-of-day quote.58.76%
SHAKE SHACK INC. 1.18% 62.79 Delayed Quote.38.24%
TYSON FOODS 0.12% 82.73 Delayed Quote.54.93%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Commodities"
11/12COAL INDIA : 2Q Net Profit Rose, Revenue Fell
DJ
11/12Oil dips for second day on lack of trade talk progress
RE
10:25pLIVESTOCK HIGHLIGHTS : Top Stories of the Day
DJ
09:45pESG Funds Enjoy Record Inflows, Still Back Big Oil and Gas -- Update
DJ
09:16pNEWS HIGHLIGHTS : Top Energy News of the Day
DJ
08:05pOil slips as trade worries offset Cushing drawdown
RE
07:59pOil slips as trade worries offset Cushing drawdown
RE
07:12pConsumer Price Index Seen Up in October -- Data Week Ahead Update
DJ
04:16pNEWS HIGHLIGHTS : Top Energy News of the Day
DJ
02:56pAntaike sees obstacles to lifting curbs on Chinese scrap copper imports
RE
Latest news "Commodities"