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USDA Drops Tighter Rules on Meatpackers
The U.S. Department of Agriculture has dropped efforts to tighten regulations governing how meat companies deal with the farmers who raise the nation's poultry and livestock. The move is a blow to farmers and advocacy groups that for years have sought checks on meatpackers' clout in rural America, where nearly one million producers raise animals for the U.S. meat industry. Meatpackers argued that the rules would have mired both meat processors and farmers in costly litigation and made U.S. meat more expensive.
Danone 3Q Sales Blow Away Expectations: Berenberg -- Market Talk
0726 GMT - Danone's third-quarter sales have blown away expectations, says Berenberg, and stock markets are set to react positively to the company's bounceback in top-line growth. While a strong 3Q was expected following four weak quarters, Berenberg says that Danone's like-for-like growth of 4.7% was well ahead of its expectations and consensus of 3% and 2.8%. Danone should be buoyed by excellent growth in its specialized-nutrition division--notably in China, where growth doubled--while its troublesome North American dairy division saw small signs of improvement. Berenberg rates Danone as outperform. Shares trade at EUR70.74, up 2%(firstname.lastname@example.org)
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Judge to Decide on Blue Apron Suits -- Market Talk
12:00 ET - At least two law firms have filed suits on behalf of investors seeking to recoup their stock losses in troubled Blue Apron Holdings. Firms had a deadline of Monday night to file their allegations against the meal kit company for misleading stockholders about its prospects. The plaintiffs allege that Blue Apron didn't fully disclose its warehouse problems before the IPO. The company has lost nearly half its value since going public in June, and has cut back on advertising because of fulfillment problems. A judge will assign a lead plaintiff for the cases in 30 days. email@example.com; @heatherhaddon)
Hog Futures Slide on Supply Concerns; Cattle Lower
CHICAGO--Hog futures prices dropped Tuesday, easing after recent gains. Hog contracts rose almost a fifth over the first half of October as meatpackers paid more for slaughter-ready hogs in the cash market, and wholesale pork prices trended higher. Lean hog futures for December delivery fell 2.4% to 62.18 cents a pound at the Chicago Mercantile Exchange. CME October live cattle futures fell 0.5% to $1.1117 a pound. Feeder cattle futures were mostly lower.
Zumbrota, Minn Hog Steady At $35.00 - Oct 17
Barrow and gilt prices at the Zumbrota, Minn., livestock market today are steady 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 17
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
Oct 17 +$21.74 +$28.98
Oct 16 +$26.92 +$30.01
Oct 13 +$28.42 +$28.98
* 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 108.7
(Percent of Year-Ago) Select 110.4
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Tuesday fell $1.15 per hundred pounds, to $197.66, according to the USDA. Select-grade prices fell 72 per hundred pounds, to $189.85. The total load count was 119. Wholesale pork prices fell 48 cents, to $73.88 a hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
October 17, 2017 17:35 ET (21:35 GMT)