Impossible Foods Raises $200 Million in Latest Funding Round
Impossible Foods Inc. on Thursday said it closed a $200 million Series G round of fundraising, bringing its total funding since startup to about $1.5 billion.
The company said the latest round was led by new investor Coatue, with participating from existing investors including Mirae Asset Global Investments and Temasek and new investor XN.
STORIES OF INTEREST
A2 Milk Boosted by CEO Choice, Pay Transparency -- Market Talk
0438 GMT - Shares of a2 Milk are up about 2.0% on the NZX as investors react positively to its new CEO and greater transparency about his pay package. The company has been meeting with institutional shareholders since announcing Tuesday its selection of clothing industry executive David Bortolussi as CEO. "The market in aggregate is very happy with the background of the CEO and we're pleased that the company has a level of disclosure regarding their package, which is great learning from the last CEO," says Stuart Williams, head of equities at Nikko Asset Management in Auckland. Shares of a2 Milk are up 39% year to date. (email@example.com)
Tropical Weather in Focus for Grains Traders -- Market Talk
10:43 ET - Weather patterns developing in the Atlantic Ocean will have a strong effect on the weather for crops in the US Corn Belt, says Terry Reilly of Futures International. "Weather in North America over the next few weeks will be largely determined by the tropics and the interaction of frequent tropical cyclones and the North America high pressure ridge," says Reilly. "An active tropical pattern will be firing up in another week to no more than ten days... the subtropical jet stream will bring frequent storms toward the southeastern United States and there will often be a trough of low pressure over the southeastern US that will limit moisture from flowing into the Midwest helping to reduce rainfall." (firstname.lastname@example.org; @kirkmaltais)
Livestock Futures Turn Higher -- Market Talk
15:22 ET - Livestock futures on the CME closed higher, with hogs turning back up after recording losses for the past two days. Most-active lean hog futures finished 1.5% higher at 52.35 cents per pound, while live cattle finished 0.5% higher at $1.1015 per pound. Some livestock traders are looking ahead to September post-Labor Day, in which consumer demand is expected to dry up and get rid of the support for futures prices. "The challenge for the market will come in September as supply availability seasonally increases, the weather turns cooler (heavier weights) and retailers shift away from grilling items," says Steiner Consulting. "There is plenty of competition in the retail case at this time, with near record supplies . . . vying for a given space in the meat case." (email@example.com; @kirkmaltais)
Estimated U.S. Pork Packer Margin Index - Aug 13
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
Aug 13 +$ 72.43 +$ 24.75
Aug 12 +$ 67.77 +$ 20.45
Aug 11 +$ 65.15 +$ 17.27
*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 90.8
(Percent of Year-Ago) Select 95.9
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Thursday rose $1.86 per hundred pounds, to $210.95, according to the USDA. Select-grade prices rose $1.42 per hundred pounds, to $197.41. The total load count was 139. Wholesale pork prices rose $2.00, to $73.25 a hundred pounds, based on Omaha, Neb., price quotes.