LIVESTOCK HIGHLIGHTS: Top Stories of the Day
July 21 2017 - 05:38PM
Dow Jones News
TOP STORIES
Official Illness Count from Chipotle Outbreak Up to 111 --
Market Talk
13:43 ET - The number of illnesses officially reported to the
local health department investigating an outbreak at a Chipotle
(CMG) in Virginia has risen to 111, according to Dr. David
Goodfriend, director of the Loudoun County Health Department. The
restaurant reopened on Wednesday after being closed for more than a
day for sanitation after customers began reporting becoming ill
over the weekend. "We are not aware of anyone who has become sick
since the restaurant reopened," Dr. Goodfriend said. So far, one
person has tested positive for norovirus, a common virus that CMG
said appeared to be the culprit. But Dr. Goodfriend said it is too
soon to identify norovirus as the cause. Shares fall 2.3% to $8.36,
the sixth straight losing session. (julie.jargon@wsj.com)
Corn Futures Sink on Profit Taking
Improving weather forecasts sparked a selloff in corn futures,
as traders took profits ahead of the weekend.
An overnight bout of rain in Midwestern states such as Iowa,
combined with a wetter outlook for the remainder of the month,
eased some concerns about the lack of moisture and subsequent yield
loss in corn plants.
Corn futures for September delivery fell 2.9%, to $3.79 3/4 a
bushel, at the Chicago Board of Trade, erasing two days of
weather-related gains and increasing selling pressure on other
grain-and-oilseed contracts.
STORIES OF INTEREST
Potbelly's Valuation Looks Too Full -- Barron's Blog
Potbelly ( PBPB) is lower Friday, following a downgrade from
Maxim Group.
Analyst Stephen Anderson cut his rating on the stock to Hold
from Buy, as the stock was approaching his $13 price target. He
writes that he expects the company to beat earnings expectations
again this quarter, by a penny, but he expects negative comps to
remain an issue.
FUTURES MARKETS
U.S. Cattle Herd Riding High
The number of U.S. cattle being fattened for slaughter rose
above expectations in June, according to government data, adding to
supply pressure in the futures market.
In a report released after markets closed, the U.S. Department
of Agriculture said the total number of cattle on feed in
commercial feedlots rose to 10.8 million head as of July 1, up 4%
from 10.4 million the same time last year. Analysts surveyed by The
Wall Street Journal had anticipated a 3% increase.
CASH MARKETS
Estimated U.S. Pork Packer Margin Index - Jul 21
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
integrated operations
*
Jul 21 +$35.13 +$ 90.29
Jul 20 +$34.42 +$ 92.34
Jul 19 +$34.42 +$ 93.13
Jul 18 +$35.50 +$ 93.63
* 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 102.8
(Percent of Year-Ago) Select 102.0
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Friday fell 74 cents per
hundred pounds, to $206.91, according to the USDA. Select-grade
prices fell 78 cents per hundred pounds, to $194.80. The total load
count was 144. Wholesale pork prices fell 95 cents, to $102.40 a
hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
July 21, 2017 17:23 ET (21:23 GMT)
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