LIVESTOCK HIGHLIGHTS: Top Stories of the Day
Biden Administration Puts Brakes on Faster Meat Plants -- Market
16:20 ET - The Biden administration's push to halt or reverse
Trump-era federal policies moves to chicken processing plants, as
the USDA withdraws a proposed rule that would have let meatpackers
process up to 175 birds per minute, versus the current ceiling of
140. Food and Water Watch, which criticized the Trump
administration move, says the withdrawal will protect food safety
and workers' health. The National Chicken Council, which has sought
faster processing speeds, says the withdrawal is a typical part of
a new administration's process of reviewing under-way rulemaking,
and hopes the Biden USDA will ultimately allow the speed increase.
Post Partnering With Plant-Based Meat Company Hungry Planet
Post Holdings Inc. said Monday it is in a partnership with
plant-based meat company Hungry Planet Inc. that includes a
Consumer packaged goods holding company Post said its
Foodservice and Refrigerated Retail units will work with Hungry
Planet to expand the distribution of Hungry Planet's plant-based
meats to address growing demand.
STORIES OF INTEREST
Arcos Dorados Replacing Plastic Trays With More Sustainable
Arcos Dorados Holdings Inc. said Monday it will substitute the
plastic food trays currently used by its guests with trays made
from more sustainable materials in order to continue its commitment
to positively impact the environment.
Latin America's largest restaurant chain and the world's largest
independent McDonald's franchisee said that since implementing its
plastics reduction program in 2018, more than 1,300 tons of
single-use plastic have been removed from its operations.
China Misses US Agriculture Buying Targets -- Market Talk
13:21 ET - While China's purchasing of US agricultural exports
accelerated greatly in 2020 versus the previous year, they still
missed the targets set by the so-called "phase one agreement"
between the two nations last year. Chinese purchases of US
agriculture totaled $23.5B in 2020, missing the target of $36.6B,
according to data from the Peterson Institute of International
Economics. China also missed its targets for buying manufactured
goods and energy, according to the group. With President Biden
inaugurated last week, market followers are now watching to see how
the Biden administration reacts to China missing its predetermined
targets, and how diplomatic relations will continue forward. Higher
Chinese buying has been one factor elevating grains futures in
recent months. (email@example.com; @kirkmaltais)
Lack of Surprises Support Cattle Futures -- Market Talk
15:18 ET - A lack of surprises in Friday's cattle on feed report
helped provide support to live cattle futures Monday - with the
most-active cattle contract finishing up 0.4% to $1.2295 per pound,
while lean hogs finished trading up 0.6% to 76.625 cents per pound.
The January Cattle on Feed report was mostly as expected, according
to Karl Setzer of AgriVisor. As of January 1 the US had 11.97
million head of cattle on feed, 100% of last January's total, the
USDA said Friday. Placements of cattle totaled 1.84 million head,
the highest for January since 1996. Lower grains futures translates
to lower feed costs for livestock producers. (firstname.lastname@example.org;
Estimated U.S. Pork Packer Margin Index - Jan 25
Source: USDA, based on Wall Street Journal calculations.
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
Jan 25 +$ 50.14 +$ 38.71
Jan 22 +$ 51.11 +$ 40.71
Jan 21 +$ 43.45 +$ 39.47
* 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 105.3
(Percent of Year-Ago) Select 102.4
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Monday rose $3.91 per hundred
pounds, to $226.73, according to the USDA. Select-grade prices rose
$2.87 per hundred pounds, to $216.21. The total load count was 91.
Wholesale pork prices fell 93 cents, to $80.41 a hundred pounds,
based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
January 25, 2021 17:32 ET (22:32 GMT)
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