LIVESTOCK HIGHLIGHTS: Top Stories of the Day
Tyson Foods to Settle Price-Fixing Claims -- Update
Tyson Foods Inc. said it has agreed to pay $221.5 million to
settle with plaintiff groups of poultry buyers that sued it for
price-fixing claims, helping resolve a four-year legal battle over
alleged collusion in the $65 billion chicken industry.
Restaurant chains, supermarket operators and food distributors
have accused Tyson, the largest U.S. meat company by sales and the
nation's top chicken supplier, and other major chicken companies of
coordinating production and pricing to boost prices for staples
such as chicken breasts, tenders and wings. Chicken suppliers have
pushed back in court, pointing to economic factors they said drove
STORIES OF INTEREST
Restaurants Get Sales Lift from Latest Stimulus Checks
Restaurants chains say they are getting a sales bump from the
latest round of stimulus money going to households, but spending
patterns from the first batch of checks earlier in the pandemic
suggest the lift can fade quickly.
The roughly $900 billion coronavirus aid package signed into law
last month provided a second round of stimulus payments--$600 per
adult and $600 a child. While the amounts are lower than the $1,200
and $500 delivered last spring, they are having an impact, at least
short-term, according to some restaurant executives and industry
Danone's Investors Cheer Overhaul Request from Activist Fund --
0929 GMT - Investors appear to have welcomed activist investor
Bluebell Capital's letter to French food firm Danone seeking an
overhaul in strategy and governance, says ING, citing reports on
the missive by French newspaper Challenges. "The stock price went
up 2.67% and the credit curve tightened about 5 basis points, which
indicates in our view that the investor community supports, at
least to a certain extent, the move of Bluebell Capital Partners,"
says credit analyst Alyssa Gammoudy. (firstname.lastname@example.org)
Outdoor Dining Menus Heat Up With Comfort Foods
New York City restaurants have always added a few hearty dishes
to their menus come winter. But now that they are limited to
serving customers outdoors because of the coronavirus pandemic, the
focus on such fare has become almost mandatory, if not an
"You need stuff that sticks to your ribs," said Jeremy Schaller,
owner of Hütte, an Alpine-themed restaurant on Manhattan's Upper
East Side. Mr. Schaller created the outdoor establishment with the
pandemic restrictions in mind and has made such comfort food-minded
offerings as venison goulash and pork chops the stars of his bill
Lean Hog Futures Jump -- Market Talk
15:19 ET - After declining for most of the month, lean hog
futures turned higher today -- closing up 2.9% at 68.425 cents per
pound. Today's gain more than makes up for yesterday's drop.
Lifting hog futures up were higher cutout prices -- with the USDA
reporting carcass prices as up $4.33 per hundredweight, bringing it
up to $81.75 per cwt. Loin, ham, and belly prices were also up
today. Meanwhile, live cattle futures closed trading Wednesday down
0.4% to $1.18875 per pound. (email@example.com;
Estimated U.S. Pork Packer Margin Index - Jan 20
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
Jan 20 +$ 39.73 +$ 39.31
Jan 19 +$ 40.72 +$ 33.98
Jan 18 +$ 45.75 +$ 36.18
* 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 102.0
(Percent of Year-Ago) Select 97.1
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Wednesday rose $1.42 per
hundred pounds, to $218.91, according to the USDA. Select-grade
prices rose 84 cents per hundred pounds, to $207.28. The total load
count was 136. Wholesale pork prices rose $1.08, to $77.29 a
hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
January 20, 2021 17:32 ET (22:32 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.