TOP STORIES

Beyond Meat Expands European Retail Presence

Beyond Meat Inc. is expanding the European retail presence for its plant-based meat products, the El Segundo, Calif.-based company said Monday.

The expansion includes a larger presence in the U.K., Germany, Austria, Switzerland and the Netherlands, the company said.

In Germany, partnerships with grocery companies will bring Beyond Meat products to 1,000 new stores. In the U.K., the Sainsbury's and Waitrose chains are bringing Beyond Meat to 445 new stores.

Restaurants Prepare For Diners to Return -- WSJ

After a year of start-stop openings, seating restrictions and delivery experiments, your favorite eatery is likely seating diners again. More U.S. restaurants reopened in February than in any month since last spring, when some cities first started loosening restrictions, according to Yelp Inc. Reopenings remained elevated last month, the Yelp data shows. While restaurants are trying to resume normal service, some pandemic practices will remain. Here's what you need to know:

Have restaurants all reopened?

They are getting closer. Seventy-five percent of U.S. restaurants are now open for business and the number of people eating out is nearing pre-pandemic levels, according to reservation booking site OpenTable. It's best to call ahead, though. About 10% of the 778,807 restaurants that existed prior to the pandemic have closed for good, market-research firm Datassential said last week.

STORIES OF INTEREST

Why McDonald's Stock Can Keep Rallying. Analysts Are Weighing In. -- Barrons.com

McDonald's stock has been climbing in the past month, helped by the chain's introduction of its new crispy chicken sandwich, but analysts say the fast-food giant deserves more credit.

On Monday, JPMorgan's John Ivankoe reiterated an Overweight rating on the stock, raising his target for the price to $245 from $215. The move was part of a larger look at restaurants and a likely increase in sales over the next year as the industry fully reopens from the pandemic. "A broad improvement in mobility trends should drive convenience-oriented QSR visitation, which will also benefit 'safe to own' McDonald's," he wrote.

Domino's Pizza 1Q to Benefit From 2020 Customer Growth -- Market Talk

1636 GMT - Domino's Pizza will likely see a strong sales boost in the first quarter, benefiting from a customer-base boom during the pandemic, Peel Hunt says. The U.K. master franchise for the pizza chain is expected to post a rise in like-for-like sales of at least 15%, benefiting from weaker comparatives in the first half of 2020 but also from a 20% increase it its customer base in 2020. The brokerage expects Ebitda of GBP275,000 per store in 2021, driven by structural growth, new products, improving technology and faster deliveries among other things. Peel Hunt maintains a buy rating on the stock with a target price of 425 pence. (adriano.marchese@wsj.com)

FUTURES MARKETS

Hogs Lose Momentum After Higher Start -- Market Talk

1518 ET - Lean hog futures on the CME started the day higher, but failed to maintain that momentum -- with the contract finishing the day down 2.6% to $1.0615 per pound. The contract rose the previous four consecutive sessions. The drop in futures coincides with a drop in cutout prices seen today - with the overall carcass price dropping over $3 per hundredweight by midday today. Pork belly prices fell nearly $19 per cwt, according to the USDA. Meanwhile, live cattle futures finished down 0.4% to $1.221 per pound. (kirk.maltais@wsj.com; @kirkmaltais)

CASH MARKETS

 
Estimated U.S. Pork Packer Margin Index - Apr 12 
 
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 
 
Apr 12       +$  9.91            +$ 92.93 
Apr  9       +$ 16.81            +$ 98.91 
Apr  8       +$ 11.91            +$ 93.36 
 
* 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  121.9 
      (Percent of Year-Ago)      Select  128.2 
 
USDA Boxed Beef, Pork Reports 

Wholesale choice-grade beef prices Monday fell 76 cents per hundred pounds, to $271.41, according to the USDA. Select-grade prices rose $2.09 per hundred pounds, to $266.16. The total load count was 112. Wholesale pork prices fell $2.78, to $108.96 a hundred pounds, based on Omaha, Neb., price quotes.

(END) Dow Jones Newswires

April 12, 2021 17:26 ET (21:26 GMT)

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