6 Months : From Oct 2018 to Apr 2019
French Protests Hurting Sysco -- Market Talk
11:35 ET - Distributor Sysco say that protests sweeping across France are hurting its ability to operate in the country. "The ability to deliver product in some of these areas is tough," CFO Joel Grade tell investors at a Barclays industry conference, speaking about the so-called yellow vest movement. The world's largest distributor is also facing supply disruptions in its large UK business due to the country's moves to leave the EU. About half of its British division's supply comes from the EU. (email@example.com; @heatherhaddon)
STORIES OF INTEREST
Pizza Hut US President Still Not Satisfied With Turnaround -- Market Talk
10:29 ET - Artie Starrs, president of Pizza Hut US, told investors that he's proud of the progress the brand has made in its turnaround but that he's still dissatisfied overall. The chain, which had lagged Domino's and other rivals in technology and delivery time, has made progress in boosting its digital orders and reducing customer wait times for delivery. But Starrs told investors at a Yum Brands investor conference that many customers still don't realize Pizza Hut delivers. That perception, he said, is aided by outdated dine-in restaurants that don't scream "We deliver." The company is opening more delivery-focused stores with pick-up windows and modern exteriors to help change that perception. (firstname.lastname@example.org)
KFC Plans to Add More Kiosks, Delivery -- Market Talk
09:26 ET - KFC CEO Tony Lowings tells investors gathered for a Yum Brands presentation that the chicken chain is trying to offer more convenience to consumers. To that end, KFC plans to have more self-order kiosks globally than Bank of America by 2020 and more restaurants offering delivery than any pizza delivery company. The growing popularity of delivery, he said, is also leading the chain to develop smaller stores. (email@example.com)
NZ Shares Weaken, Fonterra 1Q Update in Focus -- Market Talk
21:16 GMT - New Zealand's NZX-50 index falls 2.5 points to 8778.98 soon after opening, as investors digest the impact of a weak 1Q update from dairy giant Fonterra. US markets were closed on Wednesday for a day of mourning for former President George H.W. Bush, so local investors had few clues from overseas to follow. Fonterra lowered its 2018/19 Farmgate Milk Price forecast to NZ$6.00-NZ$6.30 per kilo of milk solids, from NZ$6.25-NZ$6.50, and said its 1Q revenue fell by 4% as global milk supply outpaces demand. While Fonterra Shareholders' Fund was unchanged at NZ$4.71, other dairy stocks weakened with a2 Milk falling 0.5% to NZ$11.00 and Synlait down 0.5% at NZ$9.40. Auckland International Airport, one of the market's biggest constituents, was among the early risers with a 0.4% gain to NZ$7.13. (firstname.lastname@example.org; @dwinningWSJ)
Livestock Futures Show Positive Movement on China Hopes
Lean hog futures for February gained 2.57% to 67.75 cents per pound. Live cattle contracts for February rose by 0.6% to $1.22375 per pound. Talk of China's impending return to purchasing soybeans drove optimism that China may also restart purchasing U.S. pork. According to one source, tweets from President Trump Wednesday morning added fuel to the rumors, with the president indicating "very strong signals" for imports being restarted. "It looks to me like some are taking the comments from China minister of commerce that they confirmed the 90-day deadline and will quickly implement the items that they agreed to over the past weekend," said independent analyst Dan Norcini.
Zumbrota, Minn Hog Steady at $33.00 - Dec 5
Barrow and gilt prices at the Zumbrota, Minn., livestock market are steady at $33.00 per hundredweight.
Sow prices are steady. Sows weighing 400-450 pounds are at $33.00, 450-500 pounds are $33.00 and those over 500 pounds are at $34.00.
The day's total run is estimated at 100 head.
Prices are provided by the Central Livestock Association.
Estimated U.S. Pork Packer Margin Index - Dec 5
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
Dec 05 +$ 44.20 +$ 17.01
Dec 04 +$ 40.53 +$ 17.29
Nov 30 +$ 33.93 +$ 12.43
* 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 103.3
(Percent of Year-Ago) Select 106.9
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Wednesday fell 60 cents per hundred pounds, to $213.26, according to the USDA. Select-grade prices fell 65 cents per hundred pounds, to $196.86. The total load count was 183. Wholesale pork prices fell 13 cents, to $69.65 a hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
December 05, 2018 17:33 ET (22:33 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.