LIVESTOCK HIGHLIGHTS: Top Stories of the Day
16 October 2017 - 10:45PM
Dow Jones News
TOP STORIES
Sonic Same Store Sales Hurt By Hurricane Harvey -- Market
Talk
16:41 ET - Fast food chain Sonic points to Hurricane Harvey and
a weaker marketing strategy as it reports sliding F4Q same store
sales. Comparable sales tumbled 3.3%, lead by a 4.8% decline at
company-owned restaurants. Analysts polled by Consensus Metrix
predicted a system wide decline of 1.3%. Shares fall 2% to $24.20
after the bell. (imani.moise@wsj.com; @moisenoise)
Ruby Tuesday to Be Taken Private in $146 Million Deal
-Update
Restaurant chain Ruby Tuesday Inc. is being taken private as it
struggles with unprofitability and declining same-restaurant sales
amid broader changes in casual dining.
Private-equity firm NRD Capital Management, which has recently
invested in other restaurant companies, is buying the casual-dining
chain for about $146 million, or $2.40 a share.
STORIES OF INTEREST
Aramark to Buy Avendra and AmeriPride in Separate Deals
Food-service giant Aramark Corp. plans to acquire two closely
held companies for a total of $2.35 billion, in its largest deals
since going public nearly four years ago.
The company is buying Avendra LLC, which procures food, supplies
and such services as landscaping for hotels and other institutions,
for $1.35 billion; and AmeriPride Services Inc., a supplier of
uniforms and towels, for $1 billion, officials said Sunday.
The Future of Protein (the Meatless Variety) -- WSJ
The future of protein could be a meal worm, a fungus, an obscure
plant or a run-of-the-mill pea.
"If we look around the world, there's a big consumer trend on
more protein," says Mehmood Khan, vice chairman and chief
scientific officer at PepsiCo Inc. "The question is: How are we
going to do this in a manner that's sustainable? Protein isn't
cheap. And animal protein has the greatest footprint on the
planet."
The maker of Cheetos, Rice-A-Roni and Quaker Oats this year
issued a request for proposals on "novel protein sources" for its
snacks and beverages. PepsiCo is focused primarily on plant-based
proteins but said it would also consider insects or mycoprotein --
an ingredient made from fermented fungus.
FUTURES MARKETS
Hog Futures Rally on Cash Gains
Hog futures settled just short of a six-week high on Monday as
traders anticipated higher prices in the cash market.
December lean hog contracts rose 2.4% to 63.7 cents a pound at
the Chicago Mercantile Exchange, the highest close since Sept.
5.
Cash prices for slaughter-ready hogs have risen for 11
consecutive days, and were on track to rise again on Monday. New
Midwestern slaughterhouses have given hog farmers more places to
sell their hogs, helping to push up prices. Wholesale pork prices
have also inched higher after hitting a bottom in early
October.
CASH MARKETS
Zumbrota, Minn Hog $1.00 Higher At $35.00 - Oct 16
Barrow and gilt prices at the Zumbrota, Minn., livestock market today
are $1.00 higher at $35.00 per hundredweight.
Sow prices are steady. Sows weighing under 450 pounds are $27.00, 400-450
pounds are at $27.00, 450-500 pounds are $27.00 and those over 500 pounds
are $29.00-$31.00.
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 - Oct 16
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
integrated operations
*
Oct 16 +$26.92 +$ 30.01
Oct 13 +$28.42 +$ 28.98
Oct 12 +$28.40 +$ 27.62
* 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 109.5
(Percent of Year-Ago) Select 110.4
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Monday rose 59 cents per
hundred pounds, to $198.81, according to the USDA. Select-grade
prices rose 52 cents per hundred pounds, to $190.57. The total load
count was 97. Wholesale pork prices rose 48 cents, to $74.36 a
hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
October 16, 2017 17:30 ET (21:30 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.