McDonald's Closes Some China Shops as Virus Spreads -- Market Talk
1049 ET - McDonald's joins a growing list of companies suspending some operations in China amid the coronavirus outbreak. The fast-food giant temporarily closes all restaurants in Wuhan, Ezhou, Huanggang, Qianjiang and Xiantao while health officials grapple with the virus. McDonald's was already requiring its workers in the country to wear masks and have their temperatures taken. (email@example.com)
STORIES OF INTEREST
Cargill Tells Employees to Steer Clear of Wuhan -- Market Talk
1354 ET - Agricultural conglomerate Cargill is recommending that its employees defer or cancel business travel to Wuhan, the Chinese city seen as the origination point for a coronavirus strain that's led to lockdowns of entire cities in China, and popped up in the U.S. and elsewhere. Cargill's one of the most global companies, with operations in 70 countries and regions, including China where Cargill employs 10,000 people across grain trading, poultry production, food processing and financial businesses. A Cargill spokesman says the company has flexible work options and support services for any employees that have been exposed to the coronavirus or traveled to Wuhan. (firstname.lastname@example.org; @jacobbunge)
Hog Futures Tumble to Finish Week -- Market Talk
15:44 ET - Lean hog futures on the CME took a dive to end the week, dropping 2.5% to 73.45 cents per pound. For the week, hog futures were down 0.9% -- with no indication that China has purchased any more US pork ahead of the Lunar New Year. However, 16,900 metric tons of US pork were exported to China for the week ending Jan. 16, which some traders saw a bullish. Meanwhile, live cattle futures recovered somewhat, going from down in the morning to finishing 0.1% up at $1.243 per pound. (email@example.com; @kirkmaltais)
Estimated U.S. Pork Packer Margin Index - Jan 24
Source: USDA, based on Wall Street Journal calculations
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
Jan 24 +$ 44.14 +$ 31.70
Jan 23 +$ 51.47 +$ 34.84
Jan 22 +$ 49.99 +$ 34.34
* 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.
This report compares the USDA's latest beef carcass composite
values as a percentage of their respective year-ago prices.
For Today Choice 98.5
(Percent of Year-Ago) Select 99.3
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Friday fell 83 cents per hundred pounds, to $214.49, according to the USDA. Select-grade prices fell 50 cents per hundred pounds, to $210.70. The total load count was 100. Wholesale pork prices fell $1.46, to $76.48 a hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
January 24, 2020 17:44 ET (22:44 GMT)
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