LIVESTOCK HIGHLIGHTS: Top Stories of the Day
Kroger Comparable Store Sales Top Views -- Market Talk
0831 ET - Kroger says its same-store sales grew 10.6% in 4Q,
beating estimates. This is in line with the increase from the prior
quarter, when it posted 10.9% in sales growth. The Cincinnati-based
supermarket chain reported a loss of $77M, compared with a profit
of $327M the previous year. On an adjusted basis, it generated
earnings of 81 cents per share. Digital sales more than doubled for
the latest quarter. Shares rise 1.3% premarket.
Global Food Prices Rise for Ninth Consecutive Month, UN's FAO
Global food prices continued their long-running rise in
February, driven by strong demand for basic foodstuffs and supply
constraints, the United Nations' Food and Agriculture Organization
The FAO's Food Price Index, which tracks the cost of a basket of
basic foodstuffs, rose 2.4% to 116.0 from January. That was the
index's ninth consecutive monthly gain, and its highest level since
McDonald's Will Keep Mask Requirement -- Market Talk
13:34 ET - McDonald's isn't altering its coronavirus-safety
protocol in Texas and Mississippi as those states suspend mask
requirements and allow restaurants to open at full capacity. The
burger chain says it's not planning on opening dining rooms
currently closed for seating, or allow customers and workers to
forgo masks. "We will continue to assess positivity and case rates
market by market to inform our decision making," the company says.
Starbucks is also keeping mask mandates in place despite the
loosening rules. (firstname.lastname@example.org; @heatherhaddon)
STORIES OF INTEREST
Mondelez in Favor of New Federal Plastics Recycling Policy
Mondelez International Inc. on Thursday said it was in favor of
a "reasonable" new federal recycling policy focused in part on the
kind of plastic wraps it uses to package its Oreos and a number of
its other snacks.
Such flexible films are commonly used by consumer-product
manufacturers as packaging. But they aren't easy to reuse once
consumers are done with them.
U.S. Suspends Tariffs on Scotch, Cheese and Other Products From
WASHINGTON -- The U.S. temporarily suspended tariffs on Scotch,
cheese, cashmere sweaters and other consumer imports from the U.K.
on Thursday as the nations work to resolve a longstanding trade
dispute over commercial-aircraft subsidies.
The decision to suspend the 25% duties was announced in a joint
statement by both governments, and follows the U.K.'s decision that
took effect Jan. 1 to lift duties on products including U.S. rum,
brandy and vodka.
Fonterra Raises Forecast Payment to New Zealand Dairy
WELLINGTON, New Zealand--Dairy producer Fonterra Cooperative
Group Ltd. raised its forecast payment to New Zealand farmers for
their current production season, reflecting strong demand from
The world's largest exporter of whole milk powder said the
midpoint of its forecast range for the 2020-21 season is now 7.60
New Zealand dollars (US$5.46) per kilogram of milk solids, up from
Livestock Futures Finish Lower -- Market Talk
1535 ET - Livestock futures trading on the CME closed lower --
with live cattle futures dropping 0.7% to $1.1855 per pound and
lean hog futures down 0.7% to 87.3 cents per pound. Movement in
cutout demand and prices influenced the drop for both futures
contracts, says Arlan Suderman of StoneX. "The lead April live
cattle contract was stagnant today, reflecting the stagnation of
the cash market again this week," says Suderman. "[Hog future]
buying was limited by significant losses in cutout on Wednesday
that eroded away packer margins." (email@example.com;
Estimated U.S. Pork Packer Margin Index - Mar 4
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
Mar 4 +$ 7.37 +$ 65.27
Mar 3 +$ 5.01 +$ 59.38
Mar 2 +$ 16.88 +$ 67.76
* 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 113.2
(Percent of Year-Ago) Select 109.4
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Thursday rose 85 cents per
hundred pounds, to $233.88, according to the USDA. Select-grade
prices fell $2.56 per hundred pounds, to $221.68. The total load
count was 127. Wholesale pork prices rose $2.74, to $92.76 a
hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
March 04, 2021 17:46 ET (22:46 GMT)
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