LIVESTOCK HIGHLIGHTS: Top Stories of the Day
Commodity Costs Weigh on Brinker -- Market Talk
11:11 ET - Brinker International says commodity costs for food
and beverages squeezed its margin in 2Q. The parent company of
Chili's pointed to cheese and produce as drivers of expenses, just
as sales fell due to tightening coronavirus-related restrictions in
many parts of the country. Shares of the casual-dining company fall
6.2% to $58.69. (email@example.com; @heatherhaddon)
STORIES OF INTEREST
USDA Suspends Debt Collections for Cash-Strapped Farmers --
1135 ET - More government relief is on the way for US farmers,
as the US Department of Agriculture says it is temporarily
suspending past-due debt collections and foreclosures for
distressed borrowers under some USDA-administered loan programs.
While agricultural commodity prices have surged in recent months,
and an estimated $46B in government payments went to the Farm Belt
in 2020, the USDA says that Covid-19's impact on the farm sector
continues to weigh on farmers' pocketbooks. The suspension, which
doesn't have an end date so far, will be available to more than
12,000 borrowers, or nearly 10% of the agricultural producers who
use the USDA loan programs. (firstname.lastname@example.org; @jacobbunge)
Indoor Dining in New York City Could Be Back on the Table
Indoor dining at restaurants in New York City, which has been
suspended since early December to help limit the spread of
Covid-19, may reopen soon.
The state is considering a plan that would permit indoor dining
at a capacity of 25%, and "how and when you do that," New York Gov.
Andrew Cuomo said Wednesday. A decision will come by the end of the
week, he said, after consultation with local health officials and
New York City Mayor Bill de Blasio.
New York City Poised to Vote on Adding 4,000 Food Vendor
New York City could soon make it easier and more affordable for
food vendors to operate throughout the five boroughs.
The city council is expected to vote Thursday on a bill that
would add 4,000 full-time mobile-vendor permits for street-food
sellers, phased in over a decade with 400 each year starting in
2022. At present, there are 2,900 of these permits, according to
the city's Department of Health and Mental Hygiene, which is
responsible for issuing them. A small number of the current permits
are set aside for veterans and those with disabilities.
Livestock Finish Lower on Higher Feed Costs -- Market Talk
15:17 ET - Recent movement of grains prices higher provided
pressure for livestock futures on the CME - with live cattle
futures finishing down 0.4% to $1.22625 per pound and lean hog
futures finishing down 0.8% to 76.3 cents per pound. "Live cattle
futures felt the drag of risk-off in the equity markets this
morning, while lean hog futures reflect the higher feed costs and
weather-related slowdown in this week's slaughter thus far," says
Arlan Suderman of StoneX. For cattle, today's close put an end to a
streak of moves higher. (email@example.com; @kirkmaltais)
Estimated U.S. Pork Packer Margin Index - Jan 27
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
Jan 27 +$ 42.18 +$ 37.02
Jan 26 +$ 42.89 +$ 36.35
Jan 25 +$ 50.14 +$ 38.71
* 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 107.5
(Percent of Year-Ago) Select 104.0
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Wednesday rose 60 cents per
hundred pounds, to $229.66, according to the USDA. Select-grade
prices rose $1.66 per hundred pounds, to $218.99 . The total load
count was 121. Wholesale pork prices rose 31 cents, to $79.62 a
hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
January 27, 2021 17:35 ET (22:35 GMT)
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