Plant-Based Meat Market to Reach $50B by 2025: UBS -- Market Talk
1144 GMT - The plant-based meat market will reach an estimated $50 billion by 2025, or 2.5% penetration of total global meat consumption from below 1% today, UBS says. Further, UBS expects that plant-based meat consumption will grow by 31% through 2025, compared with 0.9% for animal meat. Beyond Meat and Impossible Foods are the best pure-play companies on the market, UBS says, but Conagra, Kellogg and Nomad Foods are also well-positioned to benefit from the growing market. (firstname.lastname@example.org; @dieterholger)
McDonald's Started Investigation of CEO's Relationship With Employee Three Weeks Ago
McDonald's Corp., which fired its chief executive last week over a consensual relationship with a female employee, first learned of the matter roughly three weeks ago, according to people familiar with the matter.
After an internal investigation, the company's general counsel, Jerry Krulewitch, informed the burger giant's board of the matter, the people said. The board hired New York City law firm Wachtell, Lipton, Rosen & Katz to assess the legal risk from the relationship, the people said. Mr. Krulewitch didn't respond to a request for comment. Wachtell didn't immediately respond to a request for comment.
STORIES OF INTEREST
Trump Says U.S. Hasn't Yet Agreed to Roll Back Tariffs as Part of China Trade Deal
WASHINGTON -- President Trump on Friday disputed China's assertion that the two countries had agreed to roll back tariffs as part of an interim trade accord, but he also said progress was being made toward resolving the long-running trade war.
"I haven't agreed to anything," Trump told reporters at the White House. "But we're getting along very well with China. They want to make a deal. Frankly, they want to make a deal a lot more than I do."
USDA Recalls 130,464 Pounds Of Ground Beef That May Contain Plastic -- MarketWatch
The U.S. Department of Agriculture is recalling 130,464 points of raw ground beef produced by privately held New Jersey-based Rastelli Foods Group because it may be contaminated with plastic, the department's Food Safety and Inspection Service said Thursday. The recall is of 16-oz vacuum sealed packages of Nature's Ranchers 100% Grass Fed Organic Ground Beef that was produced from Oct. 3 through Oct. 15. There have been no reports of adverse reactions from consumers but the USDA said it had received complaints through a hotline. The products were sent to distribution centers and retail outlets in Colorado, Connecticut, Georgia, Illinois and Maryland. Arkansas-based Simmons Prepared Foods Inc (http://www.marketwatch.com/story/simmons-prepared-foods-recalls-2-million-pounds-of-poultry-on-concerns-about-metal-contamination-2019-11-07). had to recall more than two million pounds of poultry this week that they fear could be contaminated with metal.
Livestock Finish Week a Mixed Bag -- Market Talk
15:41 ET - Hog futures on the CME finish 0.3% lower at 64.125 cents per pound, while live cattle futures finish 0.2% higher at $1.19250 per pound. For cattle, managed money interest continues to buoy the contract, but it will likely start to correct in the next week or two. "The back-month contracts could start seeing some pressure since there is a huge premium on futures to the cash market, making producers consider increasing weights and higher production," says Peter McGinn of RJO Futures. (email@example.com; @kirkmaltais)
Estimated U.S. Pork Packer Margin Index - Nov 8
Source: USDA, based on Wall Street Journal calculations
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
Nov 8 +$ 78.05 +$ 45.57
Nov 7 +$ 73.55 +$ 42.56
Nov 6 +$ 72.18 +$ 42.28
* 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 110.7
(Percent of Year-Ago) Select 107.1
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Friday rose 83 cents per hundred pounds, to $239.12, according to the USDA. Select-grade prices rose 24 cents per hundred pounds, to $213.26. The total load count was 121. Wholesale pork prices rose $1.40, to $81.60 a hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
November 08, 2019 17:40 ET (22:40 GMT)
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