Pork Company Seeks to Preserve Faster Slaughter -- Market Talk
0946 ET - Seaboard Foods aims to defend its ability to run faster pork-processing lines, filing a legal motion late Friday in defense of USDA regulations that have allowed some companies, including Seaboard, to speed up hog slaughter. A federal court in March ruled that the USDA didn't fully assess risks to worker safety before finalizing those rules in 2019, and the agency since has told pork companies that they need to be prepared to slow plants, industry officials have said, potentially disrupting operations and adding costs. Seaboard's motion asks the court to delay any slowdown by 10.5 months as Seaboard puts together an appeal. Advocacy group Public Citizen, which challenged the USDA rules, says it will oppose Seaboard's effort. A Seaboard spokesman declined to comment. (email@example.com; @jacobbunge)
Tyson Adds New Plant-Based Burgers, Ground Meat And Sausages To The Raised & Rooted Lineup -- MarketWatch
Tyson Foods Inc. (TSN) said Monday that it is launching new products under the Raised & Rooted label: plant-based burger patties, plant-based ground meat and plant-based bratwurst and Italian sausages. Tyson quotes data showing a 148% increase in plant-based protein sales. Competition in the category continues to heat up with the latest launch from Kellogg Co.'s (K)Incogmeato brand and the newest iteration of the Beyond Meat Inc. (BYND) burger. Tyson stock is up 1.8% in Monday trading and has gained 22.3% for the year to date. The S&P 500 index is up 11.7% for 2021 so far.
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U.S. Farmers Look for Government Help to Support Biden's Climate Plans -- WSJ
A White House goal to slash U.S. greenhouse-gas emissions hinges in part on farmers and agriculture companies changing the way they manage fields and feedlots. The farm sector says it will need the government's help to make it happen.
The Biden administration effort outlined in April has drawn support from agribusiness giants including Tyson Foods Inc., JBS SA, Cargill Inc. and CF Industries Holdings Inc., which have been pursuing their own environmental commitments. Individual farmers, whose participation is critical to meeting the administration's goals, are weighing the potential costs and benefits to their bottom lines, and say government support will be needed.
Domino's Pizza Enters $1B Share-Repurchase Agreement
Domino's Pizza Inc. on Friday entered a $1 billion accelerated share-repurchase agreement, the Ann Arbor, Michigan-based pizza chain said Monday.
Hog Futures Become Market-Leading Asset -- Market Talk
15:30 ET - Livestock futures trading on the CME go in divergent directions, with the most active cattle contract closing down 1.3% to $1.1525 a pound while lean-hog futures drop 2.7% at $1.1265. Today's uptick makes lean hogs the leading asset in terms of gains year-to-date, according to markets tracked by WSJ, which include global stock indexes, bond ETFs, currencies and commodities. Year-to-date, hog futures have gained 57%, according to WSJ data. Behind hogs are corn futures at 53%, gasoline at 47%, and crude oil at 31%. Meanwhile, cattle futures are lagging behind most of the market, with futures down 3.9% for the year. (firstname.lastname@example.org)
Estimated U.S. Pork Packer Margin Index - May 3
Source: USDA, based on Wall Street Journal calculations.
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
May 3 -$ 19.44 +$ 94.16
Apr 30 -$ 21.95 +$ 92.41
Apr 29 -$ 26.29 +$ 87.77
* 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 81.4
(Percent of Year-Ago) Select 81.0
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Monday rose $2.80 per hundred pounds, to $299.30, according to the USDA. Select-grade prices rose $0.74 per hundred pounds, to $283.79. The total load count was 77. Wholesale pork prices rose 81 cents, to $109.53 a hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires