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LIVESTOCK HIGHLIGHTS: Top Stories of the Day

11/02/2019 10:53pm

Dow Jones News


FTSE 100
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6 Months : From Dec 2018 to Jun 2019

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TOP STORIES

 

Burger King's Parent Aims for More Global Growth

Restaurant Brands International Inc., the parent of Burger King, Tim Hortons and Popeyes Louisiana Kitchen, is marching ahead on expanding the international presence of all three brands as it scouts for sales growth.

With slowing sales growth in the U.S. for Burger King and Popeyes and flat growth for Tim Hortons in Canada, the Toronto-based company has worked to open up restaurants or form partnerships with local franchisees across Asia, Latin America and Europe.

 

UK Food Industry Urges Pause in Non-Brexit Policies as EU Exit Looms

The U.K. food industry has called on the British government to pause non-Brexit related policy work as the sector struggles to prepare for a possible disorderly exit from the European Union.

On Monday, a letter from the heads of more than 30 trade bodies warning of a "catastrophic impact" to the food industry from a no-deal Brexit was publicly disclosed. The letter was sent on Friday to Michael Gove, the U.K.'s minister for food and rural affairs.

 

STORIES OF INTEREST

 

Chipotle Enlists Oscar-winner Errol Morris For Documentary-style Ads -- MarketWatch

Chipotle Mexican Grill Inc. (CMG) said Monday that it has brought on documentarian Errol Morris to create digital and television ads that showcase the fast-casual chain's operations over the past quarter century. Errol Morris was the director and producer of the Oscar-winning documentary "Fog of War." The "Behind the Foil" spots will include scenes in Chipotle's kitchens including prep routines, the company's farming partners and its employees. Chipotle shares have skyrocketed more than 128% over the past year while the S&P 500 index has gained 3.4% for the period. See: Chipotle's digital sales and marketing initiatives could finally put illness outbreaks in the past (http://www.marketwatch.com/story/chipotles-digital-sales-and-marketing-initiatives-could-finally-put-illness-outbreaks-in-the-past-2019-02-07)

-Tonya Garcia

 

FUTURES MARKETS

 

Hogs Turn Around as China Statements Fuel Correction -- Market Talk

15:08 ET - Reports the Trump administration is discussing holding a summit with Chinese President Xi Jinping at the Mar-a-Lago resort in Palm Beach, Fla., helps fuel a turnaround on hog futures. April hog futures on the CME finish up 1.1%, closing at 59.075 cents a pound. Also aiding the uptick was the notion among traders that last week's price slide was overdone. "We went a little too far last week," says Alan Brugler of Brugler Marketing and Management. Meanwhile, live cattle futures finished up 0.3% at $1.283 a pound, maintaining the steady rise of the futures contract on solid consumer demand. (kirk.maltais@wsj.com; @kirkmaltais)

 

CASH MARKETS

 
Estimated U.S. Pork Packer Margin Index - Feb 11 
 
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 
 
Feb 11       +$ 28.38            +$  5.23 
Feb 07       +$ 26.72            +$  5.00 
Feb 06       +$ 26.83            +$  5.79 
 
* 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  105.0 
      (Percent of Year-Ago)     Select  105. 
 
 
USDA Boxed Beef, Pork Reports 

Wholesale choice-grade beef prices Monday rose $1.53 per hundred pounds, to $216.88, according to the USDA. Select-grade prices rose $2.69 per hundred pounds, to $213.86. The total load count was 78. Wholesale pork prices rose 47 cents, to $64.17 a hundred pounds, based on Omaha, Neb., price quotes.

(END) Dow Jones Newswires

February 11, 2019 17:38 ET (22:38 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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