Yum China Inks Beyond Meat Deal -- Market Talk

0845 ET - Yum China says its working with Beyond Meat to bring its Beyond Burger to mainland China for the first time. The plant-based patties will roll out on a limited-time basis at select KFC, Pizza Hut and Taco Bell locations on June 3. Beyond Meat is now also selling a "plant-based minced beef" at Starbucks stores in China. Plant-based producers are increasingly eyeing expansion through China. Beyond Meat up 3% pre-market. (; @heatherhaddon)


Decline in Food Exports to China Contribute to 30% Slide -- Market Talk

13:04 ET - Exports coming from the US fell 30% in April, the biggest one-month decline for US exports since 2002, according to Panjiva, the supply-chain research unit of S&P Global Market Intelligence. While the main factor in this decline was a 71% decrease in auto shipments from the US, exports of grain and meat products to China also contributed to April's decline, Panjiva says, noting food exports overall dropped 5.3%. "The slide would suggest that Chinese plans to boost commodities purchasing under the phase 1 trade deal between the two countries has yet to have a significant effect," the firm says. Freshly renewed tensions between the US and China have grains traders uneasy about the future of January's trade deal. (; @kirkmaltais)




Nestlé Loses Fight With Impossible Over Meatless Burger Branding

Nestlé SA must stop branding its plant-based burger "Incredible" after a European court ruled the language infringed on Impossible Foods Inc.'s trademarks and could confuse consumers.

The order by the District Court of The Hague in the Netherlands means Nestlé has to change the name of its Garden Gourmet Incredible Burger throughout the European Union. Nestlé said it would rebrand the product as Sensational across Europe, while also appealing the decision.


Grains Trade Lower as US-China Tensions Keep Rising -- Market Talk

08:47 ET - Grains futures on the CBOT Monday are down pre-market, with traders spooked by what appears to be a ratcheting up of tensions between the US and China. Although President Trump did not address any changes to the Phase One trade deal signed in January in his speech Friday, Bloomberg reports this morning that China has ordered its state grain-buying companies to halt purchasing US exports of grains and meat. "This puts Phase 1 deal in doubt and I can't imagine it will be taken well by the US, so look for a firm political response when the administration wakes up," says Richard Buttenshaw of Marex Spectron. Overnight, corn on the CBOT fell 1.6%, soybeans fell 0.7%, and wheat fell 1.3%. (; @kirkmaltais)




Livestock Futures Down On US/China Trade Jitters -- Market Talk

15:40 ET - Livestock futures on the CME finish lower, with live cattle futures off 0.6% to 98.975 cents per pound, while lean hog futures lose 3.3% to 55.15 cents per pound. For hogs, today's session makes it 7.2% that hog prices have fallen in the past four trading sessions--coinciding with an increase in tensions between the US and China as well as expectations for higher slaughter rates and production in the coming weeks. (; @kirkmaltais)



Estimated U.S. Pork Packer Margin Index - Jun 1 
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 
Jun  1       +$ 94.19            +$ 40.23 
May 29       +$102.28            +$ 54.66 
May 28       +$102.96            +$ 57.26 
* 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  152.8 
      (Percent of Year-Ago)     Select  152.5 
USDA Boxed Beef, Pork Reports 

Wholesale choice-grade beef prices Monday fell $22.19 per hundred pounds, to $341.15, according to the USDA. Select-grade prices fell $23.24 per hundred pounds, to $316.83. The total load count was 166. Wholesale pork prices fell $6.71, to $80.45 a hundred pounds, based on Omaha, Neb., price quotes.

(END) Dow Jones Newswires

June 01, 2020 16:49 ET (20:49 GMT)

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