LIVESTOCK HIGHLIGHTS: Top Stories of the Day
January 29 2018 - 5:39PM
Dow Jones News
TOP STORIES
Tyson Takes Stake in Cultured Meat Startup
Tyson Foods Inc. has invested in a startup that grows meat from
animal cells, a bet on alternatives to chicken farms and cattle
feedlots.
Tyson on Monday said it had purchased a minority stake in
Memphis Meats Inc., a Bay Area company developing technology to
produce meat using cell-culture technology. Memphis has produced a
beef meatball and a chicken strip so far, though the company says
it likely will be several years before its products are sold at
stores and restaurants.
Cell-Cultured Meat Backers See Boost from Tyson -- Market
Talk
14:53 ET - Some vegans and consumer groups see cell
culture-developed meat as a way to replace the farms, feedlots and
slaughterhouses that helped build Tyson Foods into the biggest U.S.
meatpacker. But following Tyson's investment in Memphis Meats, one
of the startups pursuing the technology, proponents hope Tyson will
help shepherd the still-nascent "cultured meat" to consumers'
dinner plates. "No company in the world is better positioned to
take clean meat global than Tyson," said Alison Rabschnuk,
corporate engagement head for the Good Food Institute, which
promotes alternatives to conventionally produced meat. A Tyson
spokesman says its collaboration with Memphis is still new and the
company will discuss its role with Memphis in the months ahead.
(jacob.bunge@wsj.com; @jacobbunge)
STORIES OF INTEREST
McDonald's to Report Amid Bullish Expectations -- Earnings
Preview
McDonald's Corp. is scheduled to announce its fourth-quarter
earnings before the market opens on Tuesday. Here's what you need
to know:
EARNINGS FORECAST: Net income of $1.59 a share is expected,
compared with $1.44 a share a year earlier, according to
FactSet.
SAME-STORE SALES AND REVENUE FORECAST: McDonald's is expected to
post a 4.9% increase in global same-store sales for the quarter,
with a 4.3% increase in the U.S., its biggest market. The company
is expected to report revenue of $5.23 billion for the quarter
compared with $6.03 billion a year earlier. (The difference largely
reflects the sale of company-owned restaurants to franchisees.)
FUTURES MARKETS
Cattle Futures Rally on Higher Physical Prices
Cattle futures rose after a late surge in physical cattle prices
last week.
Futures traders spent much of last week trying to anticipate how
much meatpackers would pay feedyards for their cattle, with the two
groups in a deadlock. When the trade finally kicked off on Friday
afternoon, prices came in higher than expected. That sparked a
bounce when futures markets reopened on Monday.
Grain Prices Rise on Tough Americas Weather
Grain futures rose to multimonth highs Monday as concerns about
weather across the Americas prompted hedge funds to pull out of
bets that prices would fall. Soybean contracts also rose.
Weather forecasts for Argentina turned drier over the weekend,
with little rainfall expected over the next two weeks. That would
lead to stress for around half of the country's corn-and-soybean
belt, the Commodity Weather Group said, with the chance of crop
loss increasing over that period.
CASH MARKETS
Zumbrota, Minn Hog Steady At $44.00 - Jan 29
Barrow and gilt prices at the Zumbrota, Minn., livestock market today
are steady at $44.00 per hundredweight.
Sow prices are $1.00 higher. Sows weighing 400-450 pounds are at $43.00,
450-500 pounds are $43.00 and those over 500 pounds are $45.00-$47.00.
The day's total run is estimated at 150 head.
Prices are provided by the Central Livestock Association.
Estimated U.S. Pork Packer Margin Index - Jan 29
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
integrated operations
*
Jan 29 +$20.88 +$ 45.57
Jan 26 +$22.51 +$ 45.96
Jan 25 +$19.26 +$ 44.24
* 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 108.5
(Percent of Year-Ago) Select 108.0
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Monday rose $2.28 per hundred
pounds to $209.11, according to the USDA. Select-grade prices rose
$2.30 per hundred pounds to $204.13. The total load count was 84.
Wholesale pork prices fell 18 cents to $81.60 a hundred pounds,
based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
January 29, 2018 17:24 ET (22:24 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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