TOP STORIES

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 -- MarketWatch

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. 15.

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. (heather.haddon@wsj.com; @heatherhaddon)

FUTURES MARKETS

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." (paulo.trevisani@wsj.com; @ptrevisani)

CASH MARKETS

 
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 - 
                             integrated operations 
 
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. 
 
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   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)