TOP STORIES
McDonald's to Add 'McPlant' Products, After Test With Beyond Meat
McDonald's Corp. is making changes to its menu and restaurant operations as the coronavirus pandemic persists, including an emphasis on to-go orders and new "McPlant" vegetarian items. The burger company said Monday that it would test its own plant-based products in some markets next year. McDonald's ran a pilot program earlier this year in Canada to sell patties made by Beyond Meat Inc., a leader in the market to sell new plant-based products that closely mimic meat.
On America's Farms, Worries About Regulation, Hope for Trade Deals Under Biden
Joe Biden's election as president raises new questions for a U.S. farm sector whipsawed by turbulent years under President Trump. Some farmers said they worry a Democratic White House will mean stricter environmental regulations and other restrictions are on the way after the Trump administration eased rules governing water quality, meatpacking-plant operations, genetically engineered crops and greenhouse-gas emissions.
STORIES OF INTEREST
Brazil's JBS Would Need Shareholder Approval to Join Arbitrations, BNDES Source Says
Brazilian meat packer JBS SA would need to get shareholder approval to join existing shareholder arbitration processes to seek compensation from former JBS officials for financial losses related to bribes paid in the past, according to a person at state-controlled investment bank BNDES familiar with the situation. BNDES owns 21.8% of JBS, and on Oct. 30 the bank won a vote at a JBS shareholder meeting giving the beef company 90 days to sue former JBS officials Joesley and Wesley Batisa, and other former officials of the company, for financial damages. The complaint stems from plea deals signed by the Batistas in 2017 with Brazilian legal authorities in which the brothers admitted their holding company, J&F Investimentos SA, made millions of dollars of illegal payments to nearly 2000 politicians.
Beyond Meat Stock Tumbles After McDonald's Launch McPlant -- Barrons.com
While the market is rallying, Beyond Meat is falling Monday, following news that fast-food giant McDonald's will produce its own faux meat. USA Today reported on Monday that McDonald's (MCD) will unveil McPlant, a line of meat alternatives that will launch with tests of a faux burger next year could ultimately lead to chicken and sausage substitutes as well.
FUTURES MARKETS
Livestock Futures Rise Even With Growing Feed Prices -- Market Talk
15:42 ET - Livestock futures rise, with live cattle futures up 2.9% to $1.11825 per pound and hog futures climbing 1.1% to 65.6 cents per pound. Macro markets were the primary factor behind the uptick of livestock--but the recent strength in grain futures may soon turn to pressuring livestock. "Corn and soybeans make up a large portion of total feed costs and a majority of total costs," says Steiner Consulting Group. "Rising feed costs reduce profitability holding all else constant." (kirk.maltais@wsj.com; @kirkmaltais)
CASH MARKETS
Estimated U.S. Pork Packer Margin Index - Nov 9
Source: USDA, based on Wall Street Journal calculations
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
integrated operations
Nov 9 +$ 45.43 +$ 55.36
Nov 6 +$ 43.15 +$ 51.34
Nov 5 +$ 47.00 +$ 56.03
* 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 90.9
(Percent of Year-Ago) Select 94.9
USDA Boxed Beef, Pork Reports Wholesale choice-grade beef prices Monday rose $3.07 per hundred pounds, to $217.39, according to the USDA. Select-grade prices rose $3.88 per hundred pounds, to $202.37. The total load count was 122. Wholesale pork prices rose $1.87, to $84.82 a hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
11-09-20 1748ET
