LIVESTOCK HIGHLIGHTS: Top Stories of the Day
BRF Says SEC Closes Bribery-Related Probe -- Market Talk
1315 ET - The US Securities and Exchange Commission has closed a
bribery-related investigation into BRF S.A., the Brazilian food
company said. In a letter on Feb. 25, the SEC said it had concluded
its investigation and did not intend to recommend an enforcement
action, according to BRF. The company on Friday said it would
continue to cooperate with ongoing criminal probes by Brazilian and
US prosecutors. The probes stretch back to 2017, when Brazilian
federal police began investigating whether BRF and other meat
producers and exporters had bribed sanitary officials for health
certificates. (email@example.com ; @dgtokar)
Wm. Morrison Seen Strengthening Its Wholesale Unit -- Market
1025 GMT - Wm. Morrison Supermarkets' extended partnership with
McColl's Retail is a positive deal, according to Shore Capital. The
U.K. grocer has made an agreement that not only underscores the
strong commercial relations between the two companies but also
suggests brand development and potentially stronger mix benefits to
its wholesale channel, Shore says. Meanwhile, press speculation
hints toward a possible supply deal with Amazon, which would
further strengthen Morrison's wholesale division, the brokerage
adds. Shares are up 0.5% at 171.7 pence.
STORIES OF INTEREST
USDA Looks to Bolster Farm Incomes -- Market Talk
1225 ET - Nearly 90% of US farmers report that their primary
income does not come from their farm, says Agricultural Secretary
Tom Vilsack during a virtual interview with the National Farmers
Union-- something the USDA hopes to address in the course of the
Biden administration. "If we're going to turn things around...
we're going to have to work so farmers don't make money just off of
the sale of commodities," says Vilsack. Other potential revenue
streams that the agency wants to make available to farmers includes
carbon sequestration and investing in new technology to monetize
waste products like manure. "This is going to be a very proactive
USDA," says Vilsack. (firstname.lastname@example.org; @kirkmaltais)
Starbucks Non-dairy Beverages, Including Oatly Oatmilk Coffee
Drinks, Go Nationwide On March 2 -- MarketWatch
Starbucks Corp. (SBUX) said Monday that new non-dairy beverages,
including those made with Oatly oatmilk, are going nationwide on
Tuesday. The Iced Brown Sugar Oatmilk Shaken Espresso and Iced
Chocolate Almondmilk Shaken Espresso are the latest menu additions.
The Honey Oatmilk Latte will be available across the country for
the first time. And customers will now have the option to add Oatly
oatmilk to their drinks, along with soymilk, coconutmilk and
almondmilk. Oatly's parent company, Havre Global AB, announced last
week that it had confidentially filed to go public
Also for spring, Starbucks is adding an iced pineapple matcha
drink, and the Pink Drink, a strawberry açaí beverage made with
coconutmilk. Starbucks shares are up 37.7% over the past year,
outpacing the S&P 500 index , which is up 29% for the
Hog Futures Put Brakes on Skid -- Market Talk
1507 ET - After dropping during the last two sessions, lean hog
futures on the CME finished higher Monday - with the most-active
contract up 0.7% to 87.725 cents per pound. Improvements to macro
conditions driving the wider equity markets helped lift hogs today.
"Fundamentals remain bullish in the hogs due to very strong pork
demand and what many believe are going to be a drop off in hog
slaughter numbers as we move into the spring," says independent
trader Dan Norcini. "Pork demand will pick up seasonally as the
warmer weather returns across the country while export markets for
pork remain robust." Meanwhile, live cattle futures finished down
0.9% to $1.18975 per pound. (email@example.com;
Estimated U.S. Pork Packer Margin Index - Mar 1
Source: USDA, based on Wall Street Journal calculations.
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
Mar 1 +$ 16.64 +$ 62.52
Feb 26 +$ 21.05 +$ 63.76
Feb 25 +$ 26.70 +$ 68.08
* 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 116.3
(Percent of Year-Ago) Select 114.0
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Monday fell $1.50 per hundred
pounds, to $239.03, according to the USDA. Select-grade prices fell
$2.09 per hundred pounds, to $227.64. The total load count was 85.
Wholesale pork prices fell 58 cents, to $91.48 a hundred pounds,
based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
March 01, 2021 17:34 ET (22:34 GMT)
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