LIVESTOCK HIGHLIGHTS: Top Stories of the Day
Farm Lawsuit Alleges Collusion Against Startups -- Market
0841 ET - Antitrust pressure increases on the US agricultural
sector, with a new lawsuit alleging that big crop seed and
pesticide suppliers colluded to keep prices high by refusing to
sell to online platforms that advertise lower prices. A lawsuit
filed in a federal court in Illinois accuses Bayer, Corteva,
Syngenta and others of a coordinated "boycott" of nascent
agricultural e-commerce companies Farmers Business Network and
AgVend, and alleges that reduced competition meant higher prices
for seed and pesticides. Spokesmen for the defendant companies said
the charges had no merit, that farm supply markets were
competitive, and that the companies would defend themselves. The
Wall Street Journal last year reported how FBN's plan to create an
Amazon-like market for farm supplies had met stiff pushback from
established industry players. (firstname.lastname@example.org;
Tyson Foods Partners With Matrix to Help U.S. Staff Get Covid-19
Tyson Foods Inc. is partnering with a clinical-services company
to help the meat producer's staff in the U.S. get vaccinated for
The company Wednesday said it is working with Matrix Medical
Network to support vaccine communication, administration and
counseling at Tyson facilities starting early this year.
STORIES OF INTEREST
Kraft's Mac & Cheese Container to Get Recyclable Revamp
Kraft Heinz Co. is developing and testing a recyclable
fiber-based microwaveable cup for its Mac & Cheese brand.
The food company also intends to release a new Kraft Mac &
Cheese shapes variety toward the end of the year using the new cup
and design, it said.
Brexit May Cause UK Food Suppliers to Lose Export Trade --
1609 GMT - Problems facing the U.K. food industry and grocers in
supplying products to Northern Ireland following the U.K.'s EU
departure could be just the tip of the Brexit iceberg, Oghma
Partners says. With Northern Ireland replicating EU rules, the
difficulties emerging in supplying the province are the 'canary in
the coal mine' for supply problems into the greater EU single
market, the corporate-finance house says. "For the food industry,
the disruption is an unwelcome and unnecessary challenge on top of
Covid-19 problems," says Oghma's Mark Lynch. "Without a work-around
solution--an acceptance that U.K.-EU farming practices are
equivalent and that [U.K.] rules won't diverge [from those of] the
EU--it seems some food export markets will be lost
Corner Store Owner Couche-Tard in Merger Talks With Europe's
PARIS -- French retailer Carrefour SA and Canada's Alimentation
Couche-Tard Inc. said they are discussing a potential tie up that
could create a $53 billion grocery and convenience store giant, as
large retailers come under pressure to transform their
bricks-and-mortar footprint amid pandemic restrictions on shopping
and disruption from tech giants.
A merger would forge one of the world's largest retailers, while
combining two companies with very different formats and
geographical footprints. Retailers are in a rush to find new ways
to get food to customers ordering online as the spread of Covid-19
has massively accelerated online grocery shopping, including
Hog Futures Extend Decline -- Market Talk
15:24 ET - Lean hog futures on the CME down again Wednesday,
with the most-active contract off 2.4% to 66.85 cents per pound.
This makes it 7 out of the last 8 sessions that hog futures
dropped--a 6.4% decline. Pork cutouts have also fallen, with pork
bellies shaving 10.5% in that time period. Live cattle futures also
losing ground Wednesday, dropping 0.2% to $1.1225 per pound.
Estimated U.S. Pork Packer Margin Index - Jan 13
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
Jan 13 +$ 40.76 +$ 35.00
Jan 12 +$ 44.86 +$ 37.42
Jan 11 +$ 61.64 +$ 46.91
* 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 100.2
(Percent of Year-Ago) Select 95.6
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Wednesday rose $1.86 per
hundred pounds, to $211.00, according to the USDA. Select-grade
prices rose 97 cents per hundred pounds, to $199.06. The total load
count was 143. Wholesale pork prices fell $1.13, to $76.68 a
hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
January 13, 2021 17:01 ET (22:01 GMT)
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