TOP STORIES

 
Tyson Draws Upon Its Meatpacking Roots -- Market Talk

10:12 ET - Over the past two years top US meat processor Tyson Foods has promoted packaged-foods executives to steer its evolution toward a consumer-facing, modern food company. But Tyson returns to its meatpacking roots for its latest round of executive appointments, amid challenges in its core chicken business and a fresh international push. Donnie King, a veteran of Tyson's meat processing operations who departed in 2017, is rehired to lead its international division, while Doug Ramsey, a longtime chicken operations executive for Tyson, will take on a new role heading Tyson's global business supplying McDonald's, one of Tyson's biggest customers. Tyson last fall promoted Noel White, who worked across many of Tyson's meat operations, to CEO after the surprise exit of Tom Hayes, a former Hillshire Brands executive. Tyson shares up 0.7%. (jacob.bunge@wsj.com; @jacobbunge)

STORIES OF INTEREST

 
McDonald's Loses 'Big Mac' Trademark in Dispute With Irish Fast-Food Chain

McDonald's Corp. (MCD) has lost its "Big Mac" trademark in Europe following a battle with Irish fast-food chain Supermac's. The European Union's Intellectual Property Office said McDonald's hadn't proven "genuine use" of the contested trademark as a burger or as a restaurant name, in a decision revealed on Tuesday.

 
Grains Fall for Second Straight Day

March corn contracts dropped by 1.9% to $3.71 1/4 a bushel at the Chicago Board of Trade Tuesday. March soybean contracts also fell 1.1% to $8.93 1/4 a bushel. Wheat contracts for March delivery dropped 0.6% to $5.11 a bushel.

 
Bayer AG Faces New Setback for Roundup Weedkiller in France

BERLIN -- Bayer AG's fight to prove its recently-acquired weedkillers are safe faced a setback in Europe Tuesday as a French court revoked approval for one of its glyphosate-based products because it might cause cancer. The ruling effectively bans Bayer from selling the weedkiller in France. While the product is a small seller there, the court action could also give ammunition to plaintiffs who are suing the chemicals and pharmaceuticals company in the U.S. over Roundup and Ranger Pro weedkillers, which it inherited as part of its $63 billion takeover of Monsanto Co. last year.

FUTURES MARKETS

 
Cattle Futures Jump as Winter Weather Approaches -- Market Talk

14:53 ET - Live cattle futures on the CME close trading up 1.2% at $1.26950 a pound. The close coincides with reports of a late week snowstorm swooping through the US Midwest Friday and hitting the East Coast by Sunday. The snowstorm is expected to drop as much as 8-10 inches of snow in some areas, which will cause cattle weights to constrict more on Midwestern farms. "The futures market in the last week has turned into a weather market mentality," Troy Vetterkind of Vetterkind Cattle Brokerage says. Lean-hog futures finish the day up 0.5% at 62.15c. (kirk.maltais@wsj.com; @kirkmaltais)

CASH MARKETS

 
Estimated U.S. Pork Packer Margin Index - Jan 15 
 
This report reflects U.S. pork packer processing margins. The margin indices 
are calculated using current cash hog or carcass values and wholesale pork 
cutout values and may not reflect actual margins at the plants. These 
estimates reflect the general health of the industry and are not meant to 
be indicative of any particular company or plant. 
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 
 
Jan 15       +$ 30.92            +$ 14.63 
Jan 14       +$ 33.48            +$ 17.49 
Jan 11       +$ 36.25            +$ 17.66 
 
* 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  102.0 
      (Percent of Year-Ago)     Select  101.9 
 
USDA Boxed Beef, Pork Reports

Wholesale choice-grade beef prices Tuesday rose 19 cents per hundred pounds, to $212.21, according to the USDA. Select-grade prices rose 41 cents per hundred pounds, to $205.87. The total load count was 173. Wholesale pork prices fell $1.33, to $68.54 a hundred pounds, based on Omaha, Neb., price quotes.

(END) Dow Jones Newswires

January 15, 2019 17:33 ET (22:33 GMT)

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