LIVESTOCK HIGHLIGHTS: Top Stories of the Day
Beyond Meat Expands European Retail Presence
Beyond Meat Inc. is expanding the European retail presence for
its plant-based meat products, the El Segundo, Calif.-based company
The expansion includes a larger presence in the U.K., Germany,
Austria, Switzerland and the Netherlands, the company said.
In Germany, partnerships with grocery companies will bring
Beyond Meat products to 1,000 new stores. In the U.K., the
Sainsbury's and Waitrose chains are bringing Beyond Meat to 445 new
Restaurants Prepare For Diners to Return -- WSJ
After a year of start-stop openings, seating restrictions and
delivery experiments, your favorite eatery is likely seating diners
again. More U.S. restaurants reopened in February than in any month
since last spring, when some cities first started loosening
restrictions, according to Yelp Inc. Reopenings remained elevated
last month, the Yelp data shows. While restaurants are trying to
resume normal service, some pandemic practices will remain. Here's
what you need to know:
Have restaurants all reopened?
They are getting closer. Seventy-five percent of U.S.
restaurants are now open for business and the number of people
eating out is nearing pre-pandemic levels, according to reservation
booking site OpenTable. It's best to call ahead, though. About 10%
of the 778,807 restaurants that existed prior to the pandemic have
closed for good, market-research firm Datassential said last
STORIES OF INTEREST
Why McDonald's Stock Can Keep Rallying. Analysts Are Weighing
In. -- Barrons.com
McDonald's stock has been climbing in the past month, helped by
the chain's introduction of its new crispy chicken sandwich, but
analysts say the fast-food giant deserves more credit.
On Monday, JPMorgan's John Ivankoe reiterated an Overweight
rating on the stock, raising his target for the price to $245 from
$215. The move was part of a larger look at restaurants and a
likely increase in sales over the next year as the industry fully
reopens from the pandemic. "A broad improvement in mobility trends
should drive convenience-oriented QSR visitation, which will also
benefit 'safe to own' McDonald's," he wrote.
Domino's Pizza 1Q to Benefit From 2020 Customer Growth -- Market
1636 GMT - Domino's Pizza will likely see a strong sales boost
in the first quarter, benefiting from a customer-base boom during
the pandemic, Peel Hunt says. The U.K. master franchise for the
pizza chain is expected to post a rise in like-for-like sales of at
least 15%, benefiting from weaker comparatives in the first half of
2020 but also from a 20% increase it its customer base in 2020. The
brokerage expects Ebitda of GBP275,000 per store in 2021, driven by
structural growth, new products, improving technology and faster
deliveries among other things. Peel Hunt maintains a buy rating on
the stock with a target price of 425 pence.
Hogs Lose Momentum After Higher Start -- Market Talk
1518 ET - Lean hog futures on the CME started the day higher,
but failed to maintain that momentum -- with the contract finishing
the day down 2.6% to $1.0615 per pound. The contract rose the
previous four consecutive sessions. The drop in futures coincides
with a drop in cutout prices seen today - with the overall carcass
price dropping over $3 per hundredweight by midday today. Pork
belly prices fell nearly $19 per cwt, according to the USDA.
Meanwhile, live cattle futures finished down 0.4% to $1.221 per
pound. (firstname.lastname@example.org; @kirkmaltais)
Estimated U.S. Pork Packer Margin Index - Apr 12
Source: USDA, based on Wall Street Journal calculations.
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
Apr 12 +$ 9.91 +$ 92.93
Apr 9 +$ 16.81 +$ 98.91
Apr 8 +$ 11.91 +$ 93.36
* 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 121.9
(Percent of Year-Ago) Select 128.2
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Monday fell 76 cents per
hundred pounds, to $271.41, according to the USDA. Select-grade
prices rose $2.09 per hundred pounds, to $266.16. The total load
count was 112. Wholesale pork prices fell $2.78, to $108.96 a
hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
April 12, 2021 17:26 ET (21:26 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.