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Beef Industry Aims to Herd Millennials With Nostalgic Ad
The U.S. beef industry is resurrecting its 25-year-old tagline, "Beef. It's What's for Dinner," in a marketing campaign aimed at millennials that have childhood memories of the slogan and want to know more about their food.
The social-media campaign from the National Cattlemen's Beef Association combines nostalgic elements, such as the tagline and narration that alludes to the "Old MacDonald Had a Farm" nursery rhyme, with a more modern story line about how beef farmers and ranchers are using technology.
FAO Food Price Index Up 1.4% in September
LONDON--World food prices rose in September due to more expensive vegetable oil and dairy prices, the United Nations' Food and Agriculture Organization said Thursday.
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The FAO's food price index rose by 1.4% last month from August, up 4.3% on its September 2016 level.
Yum China Gains After Establishing Dividend, Detailing CEO Succession Plan -- MarketWatch
Yum China Holdings Inc. (YUMC) jumped as much as 5% in late trading Thursday after announcing earnings that included the spin-off's first dividend and an increased stock-buyback plan, and detailing plans for a new chief executive. Yum China, which spun off from Yum Brands inc. (YUM) about a year ago, said that President and Chief Operating Officer Joey Wat will succeed Mickey Pant as CEO in March 2018. For the third quarter, the operator of KFC and Pizza Hut restaurants in China reported net income of $211 million, or 53 cents a share, on sales of $2.04 billion, up from profit of $192 million on sales of $1.88 billion a year ago. Analysts on average expected earnings of 56 cents a share on sales of $1.98 billion, according to FactSet. Yum China also announced its first dividend, 10 cents a share payable Dec. 21 to shareholders of record as of Nov. 30, and said the board had expanded its stock-repurchase authorization from $300 million to $550 million. Yum China shares neared $42 in after-hours action following the report, after closing with a 0.2% increase at $39.97.
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Farmers Want Trump to Focus on New Trade Deals -- Market Talk
16:24 ET - US wheat farmers are growing frustrated with the Trump administration's focus so far on renegotiating existing trade deals, like Nafta and the US-Korea Free Trade Agreement, rather than striking new ones that would broaden the global market for American-grown grain. "It is time to get past plowing the same fields and start opening ground in new markets," says Chandler Goule, CEO of the National Association of Wheat Growers, in a letter co-signed by the US Wheat Associates. US wheat has struggled to find international buyers as other countries, like Russia, peddle cheaper grain, and the groups call on President Trump to make good on repeated campaign-trail promises of new bilateral trade deals. (email@example.com; @jacobbunge)
Cattle, Hog Futures Rise on Strong Meat Markets
Livestock futures bounced higher, buoyed by rising cash and meat prices.
Hog futures have risen every day this week on expectations the market has hit a seasonal low. October lean hog contracts at the Chicago Mercantile Exchange climbed 1% to 60.925 cents a pound on Thursday, the highest close since mid-September.
CME October live cattle contracts rose 1% to $1.1015 a pound, near a two-week high.
Zumbrota, Minn Hog Steady At $31.00 - Oct 5
Barrow and gilt prices at the Zumbrota, Minn., livestock market today are steady at $31.00 per hundredweight.
Sow prices are steady. Sows weighing under 450 pounds are $24.00-$26.00, 400-450 pounds are at $24.00-$26.00, 450-500 pounds are $24.00-$26.00 and those over 500 pounds are $27.00-$29.00.
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 5
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
Oct 5 +$35.99 +$25.41
Oct 4 +$37.71 +$24.72
Oct 3 +$40.40 +$24.68
* 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.
This report compares the USDA's latest beef carcass composite
values as a percentage of their respective year-ago prices.
For Today Choice 105.9
(Percent of Year-Ago) Select 106.4
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Thursday fell 16 cents per hundred pounds, to $197.25, according to the USDA. Select-grade prices fell 77 cents per hundred pounds, to $188.78. The total load count was 138. Wholesale pork prices rose 32 cents, to $72.22 a hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
October 05, 2017 17:47 ET (21:47 GMT)