LIVESTOCK HIGHLIGHTS: Top Stories of the Day
Asda Chief Financial Officer Rob McWilliam to Step Down in
U.K. grocer Asda said Friday that Chief Financial Officer Rob
McWilliam will step down this summer when his fixed-term contract
ends and that he will be replaced by John Fallon.
The U.K.'s third largest grocer by market share said that Mr.
McWilliam returned to the company in 2018 after a six-year absence
to support the board through the proposed merger with J Sainsbury
PLC, which subsequently fell apart.
HelloFresh Shares Jump on Preliminary 1Q Figures, Guidance
Shares in German meal-kit maker HelloFresh SE rose on Friday
after the company reported preliminary figures for the first
quarter which it said should beat market expectations and raised
its 2021 revenue growth guidance.
At 0924 GMT, HelloFresh traded 4.5% higher at EUR74.54.
STORIES OF INTEREST
Wall Street Keeps Cheering McDonald's Stock Ahead of Earnings.
Here's Why. -- Barrons.com
McDonald's first-quarter earnings are still nearly two weeks
away, but analysts' price targets continue to march higher ahead of
the April 29 report.
On Friday, more analysts offered upbeat assessments of
McDonald's (ticker: MCD) prospects for the first quarter and
RBC Capital Markets' Christopher Carril reiterated an Outperform
rating and raised his price target to $251 from $247 on Friday. He
notes that while the company's international operations have been
hampered by ongoing pandemic-related closures and lockdowns in key
markets, its late 2020 momentum has continued in the new year for
its U.S. operations.
The Bull Case for a $100 Million New Jersey Deli --
The $100 million delicatessen is the talk of Wall Street. But
why be salty about it?
As an example of wild speculation in markets, hedge-fund manager
David Einhorn flagged the case of Hometown International in a
recent letter to his investors. Hometown, owner of a single deli in
Paulsboro, New Jersey, recently attained a market value in excess
of $100 million, despite booking just over $35,000 in combined
sales over the past two years.
Hog Futures Locked in Slump -- Market Talk
1505 ET - Lean hog futures trading on the CME finished trading
down another solid chunk - this time falling 2.9% to $1.017 per
pound. The most-active contract has dropped over 5% in the past two
sessions, part of a larger correction seen at the start of the
week. "Big long spec positions left the market vulnerable to a more
notable correction once prices topped the psychological $100 (per
hundredweight) level this spring," says Arlan Suderman of StoneX.
Meanwhile, live cattle futures closed down 0.4% to $1.19175 per
pound. (firstname.lastname@example.org; @kirkmaltais)
Estimated U.S. Pork Packer Margin Index - Apr 16
Source: USDA, based on Wall Street Journal calculations.
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
Apr 16 +$ 5.29 +$ 96.89
Apr 15 +$ 11.65 +$100.28
Apr 14 +$ 7.37 +$ 92.69
* 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 119.7
(Percent of Year-Ago) Select 121.1
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Friday fell 57 cents per
hundred pounds, to $276.05, according to the USDA. Select-grade
prices rose 67 cents per hundred pounds, to $269.10. The total load
count was 88. Wholesale pork prices fell $1.58, to $110.80 a
hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
April 16, 2021 17:25 ET (21:25 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.