LIVESTOCK HIGHLIGHTS: Top Stories of the Day
Jack in the Box Hires New Operating Chief
Jack in the Box Inc. has hired Tony Darden as senior vide
president and chief operating officer, the company said Monday.
Mr. Darden, who has more than two decades of experience in
quick-service restaurant operations, is slated to join Jack in the
Box in June from MOOYAH Burgers Fries and Shake, where he served as
president for the past two years.
Pizza Hut Adds Beyond Meat To The Menu In Canada --
Pizza Hut and Beyond Meat Inc. (BYND) said Monday that the
plant-based meat alternative will be coming to Pizza Hut menus in
Edmonton and the Greater Toronto Area (GTA). Restaurants in these
regions will offer a limited-time three-item menu, each topped with
Beyond Italian Sausage Crumble: a veggie pizza called The Great
Beyond; Beyond Creamy Alfredo, a pasta dish; and an alfredo topped
flatbread. Beyond Italian Sausage Crumble will also be available to
add to any item on the Pizza Hut menu. Pizza Hut is part of the Yum
Brands Inc. (YUM) portfolio. Yum Brands shares are up nearly 10%
for the year to date. Beyond Meat stock is down 16% for the period.
And the S&P 500 index has gained 11.1% for the period.
STORIES OF INTEREST
Danone Names Antoine de Saint-Affrique as New CEO
Food and beverage company Danone SA on Monday said Antoine de
Saint-Affrique will become its new chief executive, effective Sept.
He will succeed the joint interim leadership of Veronique
Penchienati-Bosetta and Shane Grant, the company said.
Chipotle Waves Customer Mask Requirements -- Market Talk
1534 ET - Chipotle Mexican Grill says it will no longer require
masks for vaccinated customers unless local laws require them.
Employees will still need to wear masks, the company says.
Starbucks also drops masks requirements for customers where
permissible. (email@example.com; @heatherhaddon)
Livestock Prices Steady Amid Cost Concerns -- Market Talk
1454 ET - Livestock prices little changed, with live cattle up
0.04% and hogs down 0.07%, amid concerns about feeding costs. Corn
took a beating last week, quelling such concerns somewhat, but now
prices are recovering as exports remain strong. "Feed costs are
expected to be a significant headwind for feeder cattle prices,"
says the Steiner Consulting Group. "Feed prices are still
considered very high. Feedlots are expected to face negative
margins this summer, which may limit the appetite for placements."
Estimated U.S. Pork Packer Margin Index - May 17
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 -
May 17 -$ 11.33 +$ 99.47
May 14 -$ 14.00 +$ 97.00
May 13 -$ 11.31 +$ 98.68
* 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 70.9
(Percent of Year-Ago) Select 67.9
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Monday rose $2.68 per hundred
pounds, to $319.62, according to the USDA. Select-grade prices rose
$3.70 per hundred pounds, to $296.89. The total load count was 85.
Wholesale pork prices rose $1.15, to $114.67 a hundred pounds,
based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
May 17, 2021 17:22 ET (21:22 GMT)
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