LIVESTOCK HIGHLIGHTS: Top Stories of the Day
Beyond Meat's Pitch for More Customers: It's Not Just Good for the Planet, It's Also Good for You.
In the hierarchy of what motivates us to buy stuff, two powerful
forces are at play: Me and we. Lots of products are good for me,
but don't help the collective we. Stuff that's good for the we
doesn't always benefit me. If you think humanity has become more
altruistic during the pandemic, think again. "Consumers will be
open to making small sacrifices that will benefit the Earth, but
their appetite will be limited," Smruti Kulkarni, director of
Nielsen Holdings PLC's innovation arm BASES, wrote in a recent
essay on Covid-19's effect on consumer behavior.
Good-for-the-planet sundries line shelves and clutter e-commerce,
but "if the sustainable product is adding extra work/inconvenience,
then it is likely that it will have limited appeal."
China's Hog Prices Continue to Fall, Decline Accelerating -- Market Talk
0403 GMT - China's hog prices continue to fall and the decline
is accelerating, says Darin Friedrichs, senior Asia commodity
analyst; " I think it's likely we see a flush out and some panic
selling from farmers ahead of the holiday." National average hog
prices are now CNY33.67/kg, down 8.5% since the start of the month.
He adds that China's pork prices are falling as well and StoneX's
consumer price update this week has major cuts of pork falling to
levels not seen since June.( email@example.com )
STORIES OF INTEREST
No-Deal Brexit Would Push Up UK Food Prices With Higher Tariffs -BRC
U.K. supermarket prices are bound to rise and weigh on the
already battered pockets of British consumers as the prospect of a
no-deal Brexit becomes more likely, the British Retail Consortium
said Friday. Supermarkets and shoppers face tariffs of 3.10 billion
pounds ($3.95 billion) a year on food and drink products unless a
free trade deal is reached between the UK and the European Union,
the trade association said.
Buy McDonald's Stock, Analyst Says. Its Traffic Is Sizzling. -- Barrons.com
McDonald's saw plenty of initial success from its collaboration
with rapper Travis Scott, but Gordon Haskett argues that the
partnership appears to be driving a lasting lift for the fast food
giant. Analyst Jeff Farmer reiterated a Buy rating and $234 price
target on McDonald's (ticker: MCD) Friday. The company's same-store
sales increase midmonth, which coincided with the launch of the
Travis Scott meal deal, hasn't gone unnoticed by the Street, but he
argues that it's more than a one-time blip.
Hog Futures Finish Week Shrugging Off USDA Report -- Market Talk
15:14 ET - Lean-hog futures trading on the CME finished trading
up 1.8% to 64.425 cents a pound. Livestock traders across the board
generally rejected the results of the USDA's quarterly hogs and
pigs report released following the market's close yesterday. "Lean
hog traders threw away yesterday's USDA quarterly hogs and pigs
report, feeling it did not reflect reality," Arlan Suderman of
StoneX says. Live-cattle futures dropped ahead of this afternoon's
cattle-on-feed report, falling 0.8% to $1.114.
Estimated U.S. Pork Packer Margin Index - Sep 25
Source: USDA, based on Wall Street Journal calculations
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
Sep 25 +$ 50.61 +$ 68.20
Sep 24 +$ 55.26 +$ 69.75
Sep 23 +$ 46.05 +$ 62.52
* 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 102.7
(Percent of Year-Ago) Select 108.7
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Friday rose $1.86 per hundred
pounds, to $219.34, according to the USDA. Select-grade prices fell
76 cents per hundred pounds, to $206.98. The total load count was
138. Wholesale pork prices fell 72 cents, to $90.79 a hundred
pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
September 25, 2020 17:30 ET (21:30 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
From Sep 2020 to Oct 2020
From Oct 2019 to Oct 2020