TOP STORIES

 

Sanitizing Newbie? Take a Lesson From a Hog Farmer

A few weeks ago, after Brad Greenway picked up some water-line fittings from a supplier, he followed his usual practice to avoid bringing germs into his workplace: he showered, put on a fresh set of clothes and wiped the parts down with disinfectant.

Mr. Greenway doesn't work in a hospital, nursing home or a grocery store. He raises pigs on a farm near Mitchell, S.D. The extensive sanitation measures Americans are adopting to combat the coronavirus have long been part of day-to-day life with hogs.

"We've always tried to practice good biosecurity," Mr. Greenway said from the office attached to one of his hog barns, housing some of the 13,000 pigs his farm produces each year.

 

Global Unions File Harassment Complaint Against McDonald's -- Market Talk

13:10 ET - An international group of labor unions files a complaint with the Organization for Economic Cooperation and Development targeting McDonald's for allegedly failing to protect workers from sexual harassment in the US, Australia, France, the UK and other countries. US unions have filed complaints at the burger chain domestically, but are trying to bring more worldwide attention to the issues. The OECD can't fine or punish a company, but can force it to negotiate. McDonald's has said it's stepped up training throughout the chain to prevent harassment. (heather.haddon@wsj.com; @heatherhaddon)

 

STORIES OF INTEREST

 

Conagra Paying $7 Million in Bonuses to Its Frontline Workers

Conagra Brands Inc. said Monday it would pay $7 million in cash bonuses to employees who have helped the food manufacturer get products made and shipped amid the Covid-19 pandemic.

The Chicago-based company said eligible workers at each of its 50 production and distribution facilities in the U.S., Canada and Mexico will receive funds.

 

FUTURES MARKETS

 

Hog Futures Drop as China Aims to Rebuild Hog Herds -- Market Talk

15:06 ET - Hog futures on the CME close 0.4% lower to 57.65c/pound amid news Chinese hog producers are hoping to rebuild hog herds decimated by the spread of African swine fever. "Chinese groups have stepped forward to claim the country's hog production may be back to normal by 2021," Karl Setzer of AgriVisor says. "Large incentives to hog farmers to rebuild their herds is a primary cause of this, but so is weakened demand from the Covid-19 outbreak." However, Setzer notes, new cases of African swine fever are being reported in China, making a rebuild of hog herds difficult. Live cattle futures gain 1.8% at 98.725c. (kirk.maltais@wsj.com; @kirkmaltais)

 

CASH MARKETS

 
Estimated U.S. Pork Packer Margin Index - May 18 
 
 
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 - 
                             integrated operations 
 
May 18       +$145.32            +$ 96.69 
May 15       +$151.15            +$103.08 
May 14       +$159.36            +$110.28 
 
 
* 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. 
 
Beef-O-Meter 
This report compares the USDA's latest beef carcass composite 
values as a percentage of their respective year-ago prices. 
 
                                 Beef 
          For Today             Choice  188.3 
      (Percent of Year-Ago)     Select  189.6 
 
USDA Boxed Beef, Pork Reports 

Wholesale choice-grade beef prices Monday fell $19.37 per hundred pounds, to $414.95, according to the USDA. Select-grade prices fell $24.19 per hundred pounds, to $394.87. The total load count was 179. Wholesale pork prices fell $2.97, to $106.71 a hundred pounds, based on Omaha, Neb., price quotes.

(END) Dow Jones Newswires

May 18, 2020 17:15 ET (21:15 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
FTSE 100
Index Chart
From Apr 2020 to May 2020 Click Here for more FTSE 100 Charts.
FTSE 100
Index Chart
From May 2019 to May 2020 Click Here for more FTSE 100 Charts.