LIVESTOCK HIGHLIGHTS: Top Stories of the Day
Beyond Meat Plans Production Facility in China
Beyond Meat Inc. will open its own production facility in China,
the plant-based meat company said Wednesday.
The facility, to be located in the Jiaxing Economic and
Technological Development Zone near Shanghai, will be Beyond Meat's
first end-to-end manufacturing site outside the U.S. and will help
the company grow its scale in China, Beyond Meat said.
STORIES OF INTEREST
Corn Futures Rise on Forecasted Drop in Midwest Temperatures
Corn for May delivery rose 1.1% to $5.60 1/2 a bushel on the
Chicago Board of Trade on Wednesday, amid expectations that
Midwestern weather may soon turn less hospitable for farmers
planting their crops.
Wheat for May delivery rose 0.1% to $6.16 1/4 a bushel.
Soybeans for May delivery fell 0.7% to $14.08 3/4 a bushel.
Some Agriculture Companies Could Reap $200B from Climate Change
-- Market Talk
13:54 ET - By 2050, weather, pest migration and diseases from
climate change could mean a roughly $200B opportunity for makers of
better seeds, crop chemicals and agricultural equipment, analysts
at Jefferies say, naming AGCO, Corteva and Deere as top picks. "We
believe there will be distinct opportunities for investors to
capitalize on changing trends in global climate conditions over the
next several decades," they say. (email@example.com;
Papa John's to Open More Than a Dozen Cambodia Locations
Papa John's International Inc. said it is going to open more
than a dozen locations in Cambodia in the coming few years.
The Kentucky-based pizza chain said that over the next three
years, it is going to open 15 new locations in the country. The
company said its Phnom Penh flagship location opened last
Pork Cutouts Extend Their Climb -- Market Talk
1607 ET - US prices for pork cutouts extended their climb today,
providing lean hog futures on the CME the juice they needed to
continue rising. Lean hog futures finish up 2.2% to $1.079 per
pound, driven in part by higher prices for pork belly, ham, and
ribs. Overall carcass prices rose over $3 per hundredweight midday
Wednesday, bringing the carcass price to $112.41 per cwt, according
to the USDA. Higher demand for pork cutouts by food service
providers has been a driver for higher livestock futures.
Meanwhile, live cattle futures finished trading up 0.5% to $1.25275
per pound. (firstname.lastname@example.org; @kirkmaltais)
Estimated U.S. Pork Packer Margin Index - Apr 7
This report reflects U.S. pork packer processing margins. The margin indices
are calculated using current cash hog or carcass values and wholesale pork
cutout values and may not reflect actual margins at the plants. These
estimates reflect the general health of the industry and are not meant to
be indicative of any particular company or plant.
Source: USDA, based on Wall Street Journal calculations.
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
Apr 7 +$ 13.63 +$ 93.75
Apr 6 +$ 12.28 +$ 89.94
Apr 5 +$ 12.38 +$ 90.89
* 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 115.8
(Percent of Year-Ago) Select 118.7
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Wednesday rose $3.54 per
hundred pounds, to $266.31, according to the USDA. Select-grade
prices rose $3.89 per hundred pounds, to $255.19. The total load
count was 117. Wholesale pork prices rose $1.77, to $109.34 a
hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
April 07, 2021 17:45 ET (21:45 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.