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Fast Food Chain Wants Amazon To Notice Them -- Market Talk
14:15 ET - Amazon.com's deal to buy grocer Whole Foods is causing food companies to take note. And not all are averse to an idea of a buyout. On Monday, fast food chain Carl's Jr. asked AMZN to buy them in a series of tweets and even created a hashtag to further its cause: "AmazonBuyUs." In the tweets, Carl's Jr. pointed out similarities in the missions of both companies and even its logos. One of the tweets stated: "HEY @Amazon BUY US. Srsly. For real. Let's do this. Let's change the future of eating!! #AmazonBuyUs." Amazon's deal for Whole Foods closed and already the company has slashed prices of some of its goods and started to sell Amazon products in store, such as its Echo device. The day the deal was announced, retailers and food companies across the board saw their stocks sink. (firstname.lastname@example.org; @DanaMattioli)
Amazon, Other Formats to Cause Grocery 'Carnage' -- Market Talk
12:00 ET - E-commerce grocery shopping through online sellers including Amazon, along with nontraditional food formats such as deep discounters and Costco Wholesale, will cause "carnage" for brick-and-mortar supermarkets in coming years, writes Barclays. Alternate formats for buying groceries are expected to grow from to 45% in 2022 from 30% currently. The shift could drive a huge loss in profits for traditional food retailers, resulting in thousands of store closures and many of the roughly 4 million workers employed in stores to lose their jobs, the Wall Street analysts find. (email@example.com; @heatherhaddon)
STORIES OF INTEREST
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Grain, Soybean Futures Drift Lower
Grain and soybean futures fell ahead of a government crop report due later this week.
Traders are waiting for the U.S. Department of Agriculture to release on Thursday updated production estimates for the ongoing U.S. corn and soybean harvest. Though rain in the Midwest has slowed the pace of fieldwork, early results so far show better than expected corn and soybean yields.
Higher Cattle Prices Bolster Futures
Cattle futures rose on Monday after an uptick in cash prices late last week.
Meatpackers paid an average of $109.42 per 100 pounds live and $172.47 dressed for slaughter-ready cattle last week, the U.S. Department of Agriculture said. That was higher than the previous week, with prices rising above $110 live in some western states.
Zumbrota, Minn Hog $1.00 Higher At $32.00 - Oct 9
Barrow and gilt prices at the Zumbrota, Minn., livestock market today
are $1.00 higher at $32.00 per hundredweight.
Sow prices are $2.00-$3.00 higher. 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 9
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
Oct 9 +$34.10 +$ 26.70
Oct 6 +$33.95 +$ 24.76
Oct 5 +$35.99 +$ 25.41
* 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 108.0
(Percent of Year-Ago) Select 107.8
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Monday rose 91 cents per hundred pounds, to $198.13, according to the USDA. Select-grade prices rose $1.43 per hundred pounds, to $188.66. The total load count was 94. Wholesale pork prices rose 90 cents, to $72.82 a hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
October 09, 2017 17:40 ET (21:40 GMT)