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Papa John's Says It's Evaluating NFL Sponsorship
Papa John's International Inc. is evaluating its National Football League sponsorship in the wake of declining television football viewership, which the company has blamed in part on the national anthem protests that have roiled the league this season.
Top executives at the pizza chain said they are in weekly discussions with the NFL about the returns their advertising dollars are generating and that they will see how the rest of the football season plays out before making any big decisions. But they say consumers' shift to digital channels is leading them to completely rethink the way they advertise.
Morrisons and Asda Most Hit by Rise of Budget Rivals -- Market Talk
1345 GMT - Wm. Morrison Supermarkets PLC and Wal-Mart Stores Inc's British supermarket chain Asda are the biggest victims of the rise of discount food retailers in the U.K., according to a shopper spending study by UBS. Aldi and Lidl made strong market share gains in 2Q as they opened new stores, with 46% of the U.K. population now shopping at Aldi and 41% at Lidl. UBS says data shows Morrisons, whose share of regular shoppers' spending dropped 9.7%, and Asda, whose share fell 7.8%, suffered the heaviest switching losses to the discounters. With a loss of 5.9%, Tesco has the lowest losses of the big four U.K. supermarket groups, which UBS attributed to its significantly improved price position in the past 12-18 months. (email@example.com)
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STORIES OF INTEREST
Just Eat Growth Better Than Morgan Stanley Expected -- Market Talk
1304 GMT - U.K. growth at Just Eat PLC has proven more resilient than Morgan Stanley expected, the brokerage says as it upgrades the online takeaway ordering service to equal-weight from underweight. Rivals Deliveroo and UberEATS continue to expand, but market growth appears sufficient to support the three players, says the brokerage. "We increase earnings per share by 5-25%, raise our price target to 760p [from 590p] and move to equal-weight as we wait for the new chief executive officer to communicate his strategy," says Morgan Stanley. Shares in Just Eat gain 1.76% to 782 pence. (firstname.lastname@example.org)
Big Jobs Gainer: Food Services and Drinking Places -- Market Talk
08:58 ET - The rebound in hiring after recent hurricanes benefited workers at food services and drinking places, according to the employment report. In October, those sectors added 89,000 workers, a sharp rise after a decrease of 98,000 in September, when workers were cut because of the hurricanes. In other sectors: Professional and business services hired 50,000 workers last month, which fits with recent trends. Manufacturing jobs rose by 24,000, bringing the total additional jobs in the space to 156,000 since November of last year, a recent low. Health care jobs rose by 22,000, including 16,000 in ambulatory health care services. (email@example.com)
Australian Wool Prices Hit Record High -- Market Talk
0418 GMT - Australian wool prices hits record highs as wide demand pushes all thicknesses higher, according to farm group Australian Wool Innovation. "Whilst Chinese interests remain very much the largest buyer in our salerooms, this week featured purposeful buying from European operators." The AWEX Eastern Market Indicator, the global benchmark for wool prices, ended the week up 2.8% at A$16.23/kilogram. The index in US dollar terms is up 22% the past year, though it remains below 2011's peak; then the 2 currencies were nearly equally valued. Now, the Aussie is worth more than 20% less than the greenback. (firstname.lastname@example.org)
Cattle Futures Continue Surge
U.S. cattle futures resumed their upward path Friday as end-of-week buying buoyed cash markets and fed through to derivative markets. The most heavily-traded live cattle contract tested new highs, climbing 2.4%, with later-dated contracts also making strong gains.
Last week's trading pattern was repeated as the early-week lull in cash deals was replaced late Thursday with trading at elevated prices around $1.24 and $1.25 a pound in Kansas and Texas, up from $1.17 a week earlier.
Estimated U.S. Pork Packer Margin Index - Nov 3
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
Nov 3 +$32.53 +$ 40.86
Nov 2 +$27.43 +$ 38.65
Nov 1 +$23.84 +$ 35.70
* 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 111.4
(Percent of Year-Ago) Select 111.0
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Friday rose 49 cents per hundred pounds, to $208.74, according to the USDA. Select-grade prices fell 8 cents per hundred pounds, to $193.08. The total load count was 117. Wholesale pork prices rose $1.03, to $79.41 a hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
November 03, 2017 17:38 ET (21:38 GMT)