LIVESTOCK HIGHLIGHTS: Top Stories of the Day
Fresh Froth Over Milk-Label Legislation -- Market Talk
0938 ET - The clash over what to call milk made from soybeans,
almonds or oats is heating up again, as a bipartisan group of
farm-state senators reintroduce legislation that would bar such
products from using traditional dairy terms like "milk" or
"cheese." The Dairy Pride Act, which senators say will be joined by
companion legislation in the House, has the backing of big farm
groups like the National Milk Producers Federation and the Farm
Bureau. Plant-based milk backers have said such laws are
unnecessary -- no consumers are buying soy milk by mistake, and the
products' plant ingredients are loudly advertised, they say -- and
that they would violate constitutional free-expression rights.
STORIES OF INTEREST
Nestle 1Q Sales Rose; Confirms 2021 View
Nestle SA said Thursday that sales rose in its first quarter,
supported by most regions.
Sales at the Swiss consumer-goods giant rose 7.7% at constant
currency to 21.1 billion Swiss francs ($23.01 billion) in the
quarter, from CHF20.81 billion previously. The growth comprised
real internal growth of 6.4% and pricing of 1.2%, Nestle said.
Real Good Food Shares Rise on 2H Recovery
Shares in Real Good Food PLC rose Thursday after the company
said that business in the second half of fiscal 2021 improved from
the first half, when it was severely hit by the coronavirus
The food-manufacturing company said revenue in the second half
recovered from the pandemic hit and was 2.4% higher than the
year-earlier period during the third quarter.
In the fourth quarter, revenue was marginally ahead of the prior
year in the cake-decorations division but fell at its Brighter
Cattle Futures Sink as Grain Prices Soar -- Market Talk
1510 ET - Live cattle futures led livestock futures down in
trading Thursday, taking its cue from skyrocketing grains prices.
With a gradually reopening food service industry in the US, meat
demand is getting stronger in the US, but the grains to feed them
with are getting more expensive. "This is just an overall demand
story, it's coming home to roost," says John Payne of Daniels
Trading. Live cattle futures closed trading down 1.2% to $1.1585
per pound, and lean hog futures closed down 0.9% to $1.0355 per
pound. (firstname.lastname@example.org; @kirkmaltais)
Estimated U.S. Pork Packer Margin Index - Apr 22
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
Apr 22 -$ 0.11 +$102.22
Apr 21 +$ 0.52 +$ 99.81
Apr 20 +$ 6.17 +$102.73
* 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 108.6
(Percent of Year-Ago) Select 110.0
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Thursday rose $1.85 per
hundred pounds, to $282.31, according to the USDA. Select-grade
prices rose $1.81 per hundred pounds, to $273.69. The total load
count was 93. Wholesale pork prices rose $1.12, to $113.28 a
hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
April 22, 2021 17:32 ET (21:32 GMT)
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