TOP STORIES

China Pork Prices Hit Over 3-Year High -- Market Talk

0450 GMT - Pork prices in China have touched their highest level since 2016 driven by a sharp fall in the country's pig population due to the African swine fever. The increase in local prices could lead to more pork imports adding to the increase already being seen in meat imports to China. Pork prices, excluding offal, were quoting nearly 30% higher from the start of the year at CNY26.91 a kilogram, according to data from China's Ministry of Agriculture.(lucy.craymer@wsj.com)

Australian Cattle Prices On Rise, Weather To Cap Moves: NAB -- Market Talk

0650 GMT - Australian young cattle prices have been a good deal higher recently, with the local benchmark Eastern Young Cattle Indicator trading at just below A$5.30ckg - nearing the record high seen in 2017, says National Australia Bank. However, poor weather conditions further north may ultimately act as a brake on prices, NAB says. It doesn't expect much more upside for ECYI, unless drought-affected areas of New South Wales and Queensland get some good rain. Dry conditions tend to result in farmers sending more animals to slaughter as they lack grass to feed them. (lucy.craymer@wsj.com)

STORIES OF INTEREST

HelloFresh Adds Beyond Meat Burger to North America Menu

German meal-kit company HelloFresh SE (HFG.XE) on Monday said it is adding plant-based burgers from Beyond Meat Inc. (BYND) to its offerings in North America.

HelloFresh said it will offer the "Goudalicious Beyond Burger" as part of its premium craft burger collection, with U.S. shipments beginning nationwide the week of Sept. 14.

Domino's Goes It Alone on Delivery

The pizza chain that helped popularize delivery is keeping its pies off other services that allow diners to order all manner of cuisines to their doors.

Delivery has become one of the most divisive issues in the restaurant industry, promising to boost sales at the expense of profit margins. Some companies have pushed for better service and more favorable terms than the 25% of a restaurant's profit that delivery companies typically take for each order they deliver.

FUTURES MARKETS

Hogs Recover Some Lost Ground After Previous Down Week -- Market Talk

16:17 ET - Lean hog futures on the CME perk up, following a week full of steep selloffs. Hog futures rise 3.3% to 64.025 cents per pound. Pushing prices up Monday were optimism about China's continued buying of US pork, mixed with the sentiment that hogs were oversold last week. "Thoughts that easing political issues may lead to more pork exports were also supportive," says Karl Setzer of AgriVisor. Live cattle futures also inched up, closing up 0.2% at 98.225 cents per pound. (kirk.maltais@wsj.com; @kirkmaltais)

CASH MARKETS

 
Estimated U.S. Pork Packer Margin Index - Aug 19 
 
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 
 
Aug 19       +$ 20.40            +$ 49.21 
Aug 16       +$ 22.90            +$ 52.63 
Aug 15       +$ 25.05            +$ 56.86 
 
* 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  113.1 
      (Percent of Year-Ago)     Select  106.8 
 
USDA Boxed Beef, Pork Reports

Wholesale choice-grade beef prices Monday rose 44 cents per hundred pounds, to $239.13, according to the USDA. Select-grade prices rose $1.26 per hundred pounds, to $214.52. The total load count was 60. Wholesale pork prices fell $1.59, to $83.29 a hundred pounds, based on Omaha, Neb., price quotes.

(END) Dow Jones Newswires

August 19, 2019 17:44 ET (21:44 GMT)

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