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Jack in the Box Could Announce Qdoba Sale This Week -- Market Talk
09:49 ET - When Jack in the Box reports 4Q fiscal earnings on Wednesday, all attention will be on the potential sale of its Mexican chain, Qdoba, which analysts say could be announced at the same time. The burger chain previously announced plans to seek alternatives for the brand. BTIG estimates Qdoba could be worth more $300M but more important than the sale price is the focus a potential sale would provide Jack in the Box, which would then have more attention to devote to selling more of its restaurants to franchisees. (firstname.lastname@example.org)
Kroger, Wal-Mart Crack Down on Tardy Suppliers -- Market Talk
11:49 ET - Food retailers want their suppliers to resolve the persistent problem of delayed or incomplete deliveries, which they say costs them millions of dollars a year in lost sales and overtime pay. Kroger is fining suppliers $500 for every order that is more than two days late to any of its 42 warehouses, and Wal-Mart is charging suppliers monthly fines of 3% for deliveries that don't arrive exactly on time. They began issuing the fines in August. (email@example.com; @heatherhaddon)
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Funds Trim Short Position in Corn Market -- Market Talk
16:31 ET - Hedge funds eased off wagers that corn prices would fall last week. The CFTC said that money managers trimmed their net short in the corn market to 210,446 futures and options as of Nov. 21, down 9% from the prior week's record. Corn futures continue under pressure from large supplies, but found some strength last week on ideas that prices had recently fallen too low. Funds cut their net long in the soybean market by 11% to 20,144 futures and options, while leaving their net short in wheat little changed at 108,666 futures and options. (firstname.lastname@example.org; @b_parkyn)
Hog Futures Rise to Three-Week High; Cattle Follow
Hog futures started the week higher, buoyed by an upward turn in the cash market for physical pigs.
Lean hog contracts for December rose 2% to 64.525 cents a pound at the Chicago Mercantile Exchange, closing at the highest point since Nov. 6.
Zumbrota, Minn Hog Steady At $35.00 - Nov 27
Barrow and gilt prices at the Zumbrota, Minn., livestock market today
are steady at $35.00 per hundredweight.
Sow prices are steady to $1.00 lower. Sows weighing under 450 pounds are
$36.00-$38.00, 400-450 pounds are at $36.00-$38.00, 450-500 pounds are
$36.00-$38.00 and those over 500 pounds are $40.00-$42.00.
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 - Nov 27
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
Nov 27 +$46.76 +$ 45.01
Nov 24 +$46.18 +$ 45.72
Nov 22 +$46.27 +$ 43.92
* Based on Iowa State University's latest estimated cost of production.
This report compares the USDA's latest beef carcass composite
values as a percentage of their respective year-ago prices.
For Today Choice 112.3
(Percent of Year-Ago) Select 110.1
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Monday fell $1.42 per hundred pounds, to $209.57, according to the USDA. Select-grade prices fell 57 cents per hundred pounds, to $187.28. The total load count was 92. Wholesale pork prices fell 33 cents, to $81.34 a hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
November 27, 2017 17:16 ET (22:16 GMT)