LIVESTOCK HIGHLIGHTS: Top Stories of the Day
January 22 2020 - 7:04PM
Dow Jones News
TOP STORIES
Dairy Trade Responds to Starbucks; Pledges Sustainability --
Market Talk
10:37 ET - Trade group Dairy Management says milk farmers are
doing their part to be more sustainable as companies zero in on
dairy as a carbon contributor. Starbucks cites dairy as a major
contributor to its carbon emissions as the coffee giant seeks to
cut waste output in half by 2030. "Dairy can and will play an
important role in achieving sustainability in supply chains and
global food production. From an environmental and nutrition
standpoint, it is not an either-or," says Krysta Harden, the
group's head of environmental strategy. The environmental impact of
producing a gallon of milk is falling as a result of better farm
techniques, the trade group says. (heather.haddon@wsj.com;
@heatherhaddon)
Lab-Grown Meat Startup Grabs $161 Million for Expansion
Memphis Meats Inc., a startup that uses animal cells to grow
edible meat in a laboratory, has raised $161 million to
commercialize its lab-grown chicken, beef and other products.
The Berkeley, Calif.-based company plans to use the Series B
financing to build a pilot production facility and triple its
workforce. The company hasn't sold its products to the public yet,
and has focused on research and development of lab-grown, or
"cultured" versions of beef, chicken and duck.
STORIES OF INTEREST
McDonald's Ups Worker Benefits with App -- Market Talk
0804 ET - McDonald's says its releasing an app to help workers
better advance in their careers and make the most of company
benefits. The tool is part of the burger giant's program to give
workers job advice and college tuition assistance of up to $3,000
after 90 days of employment. Restaurants are increasing rolling out
benefits for workers as they fight to attract and maintain staff
given low unemployment. McDonald's says it has given $90M in
tuition assistance to thousands of workers since 2015.
(heather.haddon@wsj.com; @heatherhaddon)
Conagra Aims to Make 100% of Plastic Packaging Renewable,
Recyclable or Compostable by 2025 >CAG
Conagra Brands Inc. (CAG) on Wednesday said it will work to make
100% of its current plastic packaging renewable, recyclable or
compostable by 2025.
The Chicago packaged-foods company said the move it part of its
efforts to reduce the overall use of plastic under its corporate
social responsibility and environmental, social and governance
initiatives.
G. Willi-Food CEO Michael Luboschitz Resigning for Personal
Reasons
G. Willi-Food International Ltd. (WILC) said Wednesday that
Michael Luboschitz submitted his resignation as chief executive for
personal reasons, effective March 20.
The kosher foods company said it is currently searching for a
replacement for Mr. Luboschitz as CEO.
FUTURES MARKETS
Livestock Mixed; Hogs Rise on Swine Fever Fears -- Market
Talk
15:57 ET - Livestock futures end mixed -- with April live cattle
futures on the CME dropping 0.4% to $1.26775 per pound while lean
hog futures rose 1% to 74.525 cents per pound. The cattle market
stayed generally quiet, waiting for Friday's Cattle on Feed report.
For hogs, a case of African swine fever found near the
German/Polish border pushed futures up -- as European hogs being
stricken with the disease would become a serious wrinkle for a
global hog supply already seriously impacted by the disease
decimating Chinese production. (kirk.maltais@wsj.com;
@kirkmaltais)
CASH MARKETS
Estimated U.S. Pork Packer Margin Index - Jan 22
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
integrated operations
Jan 22 +$ 49.99 +$ 34.34
Jan 21 +$ 49.26 +$ 33.61
Jan 20 +$ 46.89 +$ 31.01
* 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 99.4
(Percent of Year-Ago) Select 100.1
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Wednesday rose 45 cents per
hundred pounds, to $214.96, according to the USDA. Select-grade
prices fell $1.45 per hundred pounds, to $212.02. The total load
count was 157. Wholesale pork prices rose 34 cents, to $77.71 a
hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
January 22, 2020 18:49 ET (23:49 GMT)
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