LIVESTOCK HIGHLIGHTS: Top Stories of the Day
January 15 2019 - 5:48PM
Dow Jones News
TOP STORIES
Tyson Draws Upon Its Meatpacking Roots -- Market Talk
10:12 ET - Over the past two years top US meat processor Tyson
Foods has promoted packaged-foods executives to steer its evolution
toward a consumer-facing, modern food company. But Tyson returns to
its meatpacking roots for its latest round of executive
appointments, amid challenges in its core chicken business and a
fresh international push. Donnie King, a veteran of Tyson's meat
processing operations who departed in 2017, is rehired to lead its
international division, while Doug Ramsey, a longtime chicken
operations executive for Tyson, will take on a new role heading
Tyson's global business supplying McDonald's, one of Tyson's
biggest customers. Tyson last fall promoted Noel White, who worked
across many of Tyson's meat operations, to CEO after the surprise
exit of Tom Hayes, a former Hillshire Brands executive. Tyson
shares up 0.7%. (jacob.bunge@wsj.com; @jacobbunge)
STORIES OF INTEREST
McDonald's Loses 'Big Mac' Trademark in Dispute With Irish Fast-Food Chain
McDonald's Corp. (MCD) has lost its "Big Mac" trademark in
Europe following a battle with Irish fast-food chain Supermac's.
The European Union's Intellectual Property Office said McDonald's
hadn't proven "genuine use" of the contested trademark as a burger
or as a restaurant name, in a decision revealed on Tuesday.
Grains Fall for Second Straight Day
March corn contracts dropped by 1.9% to $3.71 1/4 a bushel at
the Chicago Board of Trade Tuesday. March soybean contracts also
fell 1.1% to $8.93 1/4 a bushel. Wheat contracts for March delivery
dropped 0.6% to $5.11 a bushel.
Bayer AG Faces New Setback for Roundup Weedkiller in France
BERLIN -- Bayer AG's fight to prove its recently-acquired
weedkillers are safe faced a setback in Europe Tuesday as a French
court revoked approval for one of its glyphosate-based products
because it might cause cancer. The ruling effectively bans Bayer
from selling the weedkiller in France. While the product is a small
seller there, the court action could also give ammunition to
plaintiffs who are suing the chemicals and pharmaceuticals company
in the U.S. over Roundup and Ranger Pro weedkillers, which it
inherited as part of its $63 billion takeover of Monsanto Co. last
year.
FUTURES MARKETS
Cattle Futures Jump as Winter Weather Approaches -- Market Talk
14:53 ET - Live cattle futures on the CME close trading up 1.2%
at $1.26950 a pound. The close coincides with reports of a late
week snowstorm swooping through the US Midwest Friday and hitting
the East Coast by Sunday. The snowstorm is expected to drop as much
as 8-10 inches of snow in some areas, which will cause cattle
weights to constrict more on Midwestern farms. "The futures market
in the last week has turned into a weather market mentality," Troy
Vetterkind of Vetterkind Cattle Brokerage says. Lean-hog futures
finish the day up 0.5% at 62.15c. (kirk.maltais@wsj.com;
@kirkmaltais)
CASH MARKETS
Estimated U.S. Pork Packer Margin Index - Jan 15
This report reflects U.S. pork packer processing margins. The margin indices
are calculated using current cash hog or carcass values and wholesale pork
cutout values and may not reflect actual margins at the plants. These
estimates reflect the general health of the industry and are not meant to
be indicative of any particular company or plant.
Source: USDA, based on Wall Street Journal calculations
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
integrated operations
Jan 15 +$ 30.92 +$ 14.63
Jan 14 +$ 33.48 +$ 17.49
Jan 11 +$ 36.25 +$ 17.66
* 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 102.0
(Percent of Year-Ago) Select 101.9
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Tuesday rose 19 cents per
hundred pounds, to $212.21, according to the USDA. Select-grade
prices rose 41 cents per hundred pounds, to $205.87. The total load
count was 173. Wholesale pork prices fell $1.33, to $68.54 a
hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
January 15, 2019 17:33 ET (22:33 GMT)
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