LIVESTOCK HIGHLIGHTS: Top Stories of the Day
Dunkin' Adds More Plant-Based Meat -- Market Talk
15:29 ET - Dunkin' Brands strikes a deal with Kellogg to add a
breakfast patty from its MorningStar Farms division to the coffee
chain's menus at select restaurants. Dunkin' helped put Beyond Meat
on the national map for fast-food chains in rolling out its
imitation sausage nationally last year. Dunkin' says it wants to
make plant-based food and beverages more nationally available and
affordable. Beyond Meat down slightly to $124.59 in afternoon
trading. (email@example.com; @heatherhaddon)
McDonald's Strikes Back at Franchisee Lawsuit -- Market Talk
15:45 ET - McDonald's pushes back at a lawsuit from two current
Black franchisees who allege racial discrimination, arguing it's
not in the company's interest to see restaurant owners fail. The
chain says in a filing Monday in the U.S. District Court for the
Northern District of Illinois Eastern Division that it "repeatedly
provided generous financial assistance," to the two franchisees to
help them with substantial debts accrued, and that the owners were
in breach of their franchise agreement. The suit and another from
former franchisees alleges that McDonald's pushed Black franchisees
to less profitable locations and failed to support them.
STORIES OF INTEREST
Aldi UK Four-Week Christmas Sales Rise 11%, Boosted by Premium
Aldi U.K. said Monday that sales over the four weeks ended Dec.
24 were 11% higher than the same period a year earlier, boosted by
demand for premium products.
Aldi U.K., the British arm of Aldi Germany, said it had strong
growth in its online wine and specialbuy offerings, with sales up
CEO Behind KFC, Taco Bell Orders Fast-Food Growth To Go (Jan.
David Gibbs had just signed Yum Brands Inc.'s first restaurant
acquisition in years and was planning a convention for nearly 1,000
of its fast-food franchisees world-wide when the pandemic crippled
the global economy in March.
Suddenly the crisis threatened to wipe out much of the $17
billion the company and its franchisees generate in annual dine-in
sales across KFC, Taco Bell and Pizza Hut restaurants in more than
150 countries. Mr. Gibbs, a 31-year Yum veteran who became chief
executive officer a year ago, went from advancing the company's
expansion strategy to contending with thousands of closed
Hog Futures Look to Rise Over Longer-Term -- Market Talk
15:24 ET - Lean hog futures trading on the CME finished up 1.4%
to 71.225 cents per pound. For hogs, today's uptick puts prices at
their highest levels since October -- but there's room for them to
travel higher if high demand persists as the pork supply chain
moves less meat than previous years. "[Our] projections assume that
the strong demand observed even in the face of the COVID-19 is
maintained," says Jason Franken of Western Illinois University.
Franken forecasts prices to average 72-78 cents per pound by the
middle of 2021. "However, if that is not the case or if hog supply
turns out to be greater than anticipated, then lower prices may be
realized," he adds. Live cattle futures finished down 2.4% to
$1.123 per pound Monday. (firstname.lastname@example.org; @kirkmaltais)
Estimated U.S. Pork Packer Margin Index - Jan 4
Source: USDA, based on Wall Street Journal calculations.
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
Jan 4 +$ 49.13 +$ 33.81
Dec 31 +$ 52.44 +$ 36.22
Dec 30 +$ 39.37 +$ 25.33
* 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 100.8
(Percent of Year-Ago) Select 97.0
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Monday rose 52 cents per
hundred pounds, to $209.87, according to the USDA. Select-grade
prices rose $1.56 per hundred pounds, to $196.53. The total load
count was 102. Wholesale pork prices fell $1.12, to $76.13 a
hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
January 04, 2021 17:06 ET (22:06 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
From Dec 2020 to Jan 2021
From Jan 2020 to Jan 2021