TOP STORIES
Tyson Foods to Pilot Seven Health Centers Near Its Facilities for Staff
Tyson Foods Inc. said Wednesday that it would pilot seven "Bright Blue" health centers near company production facilities in partnership with Marathon Health.
The processor and marketer of chicken, beef, and pork said the health centers would provide primary and preventive care, including health screenings, lifestyle coaching and health education, as well as behavioral health counseling.
Performance Food Group 3Q Sales Rises About 3%
Performance Food Group Co. said its third-quarter sales increased 2.9% on independent case volume growth and the effects of the Covid-19 pandemic on last year's first quarter.
The company sales for the quarter were $7.2 billion, compared to last year's $7 billion. Analysts polled by FactSet were looking for sales of $6.9 billion
Applebee's Turns to Tablets Given Labor Squeeze -- Market Talk
1233 ET - Dine Brands Global says it's holding two hiring events next week to try and hire 20,000 workers for its Applebee's and IHOP brands. KFC and Denny's Corp. also say they are aiming to hire 20,000 workers as restaurants scramble to staff up. Applebee's says in 1Q earnings that it is investing in digital tablets as it struggles to staff up sufficiently. The tablets help make servers more efficient and can earn them more money as they tend to more tables, the company says. (heather.haddon@wsj.com; @heatherhaddon)
STORIES OF INTEREST
Corteva Sees Boom Times for Farmers -- Market Talk
0929 ET - Crop-seed supplier Corteva anticipates that farmers' income this year could hit all-time highs, even as the US federal government dials down direct payments to farmers that hit a record in 2020. CEO Jim Collins says that the trends underpinning a rapid rebound in the US farm economy -- roaring demand for grains and oilseeds, and dwindling stockpiles -- are likely to continue into 2022. US net farm income hit a record $123B in 2013, according to the USDA. (jacob.bunge@wsj.com; @jacobbunge)
FUTURES MARKETS
Hogs Finish Higher on Cutout Strength -- Market Talk
1527 ET - After starting trading lower, hog futures reversed course to finish higher -- with the most-active contract closing 0.7% higher at $1.1475 per pound. That makes it the second day that hog futures have closed higher than cattle, an unusual occurrence. The turnaround in hog futures comes as pork cutouts rise, with the USDA reporting higher prices midday. Carcass cutouts were up $3.11 per hundredwight midday, while other cutouts including ribs, butt, and bellies rose. Meanwhile, live cattle futures closed trading up 1.3% to $1.147 per pound. (kirk.maltais@wsj.com; @kirkmaltais)
CASH MARKETS
Estimated U.S. Pork Packer Margin Index - May 5
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
integrated operations
May 5 -$ 29.07 +$ 95.58
May 4 -$ 25.74 +$ 93.55
May 3 -$ 19.44 +$ 94.16
* 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 74.3
(Percent of Year-Ago) Select 76.0
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Wednesday rose $3.56 per hundred pounds, to $304.78, according to the USDA. Select-grade prices rose $2.27 per hundred pounds, to $286.18. The total load count was 121. Wholesale pork prices rose 94 cents, to $110.19 a hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
05-05-21 1729ET
