TOP STORIES

Chipotle Aims to Reduce Waste by 5% by 2025

Chipotle Mexican Grill Inc. said it aims to reduce overall waste by 5% by 2025 compared with 2020 as the company laid out its sustainability goals.

The burrito chain Thursday said it also plans to partner with growers to convert more than 400 acres of conventional farmland to organic farmland through transitional growing methods by 2025. It said it aims to purchase more than 37 million pounds of produce from local farmers in 2021.

Pig Farmers Line Up for Covid-19 Vaccines -- Market Talk

1507 ET - Reluctance among rural US residents to get Covid-19 vaccines has been a challenge to federal efforts to boost inoculations, but one of the country's biggest agricultural groups say there's been no resistance among hog farmers. "Our producers are used to dealing with animal health, and they understand the importance of vaccines," says Neil Dierks, CEO of the National Pork Producers Council. Vaccines and pharmaceuticals have become increasingly important for farmers, as more and more livestock and poultry are raised in large-scale operations. (jacob.bunge@wsj.com; @jacobbunge)

STORIES OF INTEREST

General Mills in Sustainability-Linked Revolving Credit Facility

General Mills said it entered into a sustainability-linked revolving credit facility.

The food company on Thursday said it renewed its five-year $2.7 billion revolving credit facility, which now includes a pricing structure tied to environmental impact metrics.

General Mills said it receives a pricing adjustment based on its performance against environmental criteria during the credit facility's term.

US Grain Shipments Rebound -- Market Talk

12:22 ET - After a recent slide, domestic grain shipments posted a gain for the week ended April 3, according to the USDA's latest grains transportation report released Thursday. The USDA says that US Class I railroads originated 25,679 grain carloads for the week, up 5% from the previous week and 23% more than last year. Meanwhile, barge grain movements totaled 902,995 tons for the week ended April 10, up 16% from the previous week and 114% higher than the same period last year. (kirk.maltais@wsj.com; @kirkmaltais)

Kerry Group Suspends Discussions With Kerry Co-Operative Creameries

Kerry Group PLC said Thursday that it has suspended discussions with Kerry Co-Operative Creameries Ltd. regarding a potential transaction.

The Ireland-based food company--which houses Dairygold butter, Charleville cheese and Richmond sausages among its brands--said that the decision is part of a strategic review of its dairy-related businesses in Ireland and the U.K.

FUTURES MARKETS

Hog Futures Slump to Close Session -- Market Talk

1519 ET - Lean hog futures trading on the CME finished down 2.8% to $1.047 per pound. Livestock traders were disappointed with low export sales of US pork, which totaled 17,200 metric tons. "Top buyers were Mexico and Japan. Trade was quick to note there were no sales to China," says Karl Setzer of AgriVisor. With Chinese hog prices starting to rebound, traders appear to be questioning the country's appetite for US hogs. Meanwhile, live cattle futures closed trading down 0.3% to $1.1965 per pound. (kirk.maltais@wsj.com; @kirkmaltais)

CASH MARKETS

 
Estimated U.S. Pork Packer Margin Index - Apr 15 
 
All figures are on a per-head basis. 
 
Date     Standard Margin       Estimated margin 
         Operating Index         at vertically - 
                             integrated operations 
 
Apr 15       +$ 11.65            +$100.28 
 
Apr 14       +$  7.37            +$ 92.69 
 
Apr 13       +$ 13.46            +$ 97.92 
 
* 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  122.0 
      (Percent of Year-Ago)      Select  124.4 
 
USDA Boxed Beef, Pork Reports

Wholesale choice-grade beef prices Thursday rose $3.71 per hundred pounds, to $276.62, according to the USDA. Select-grade prices rose $1.12 per hundred pounds, to $268.43. The total load count was 103. Wholesale pork prices rose $3.53, to $112.38 a hundred pounds, based on Omaha, Neb., price quotes.

(END) Dow Jones Newswires

April 15, 2021 17:36 ET (21:36 GMT)

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