LIVESTOCK HIGHLIGHTS: Top Stories of the Day
17 April 2018 - 7:42AM
Dow Jones News
TOP STORIES
Danone's EDP Business Could Push Shares: Deutsche Bank -- Market
Talk
1430 GMT - Danone releases its first-quarter results on
Wednesday and analysts at Deutsche Bank say the company's recently
released consensus is highly representative of the market's view
ahead of the results. Deutsche Bank says Danone's essential dairy
and plant-based--EDP--businesses both in North America and
internationally could be marginally ahead of the brokerage's
organic-growth forecasts. If the North American business does well,
Deutsche Bank expects a favorable share reaction. Danone shares
trade down 0.1% at EUR65.21. (anthony.shevlin@dowjones.com)
CDC Investigates Salmonella Outbreak Linked to Eggs -- Market
Talk
16:59 ET - The CDC is investigating a multistate salmonella
outbreak tied to eggs, the agency said. Health officials announced
the probe after Indiana-based Rose Acre Farms, one of the largest
U.S. egg producers, on Friday recalled nearly 207 million eggs due
to fears they could be contaminated with the bacteria. Twenty-three
people in nine states have fallen ill from salmonella traced to the
eggs, the CDC said, echoing an earlier warning to consumers by the
FDA not to eat recalled eggs. The investigation is CDC's seventh
into salmonella infections this year, and follows probes tied to
dried coconut, chicken salad and kratom, a plant used as an opioid
substitute. (jesse.newman@wsj.com; @jessenewman13)
STORIES OF INTEREST
Kraft Heinz Facing Post-Merger Growth Hurdles -- Market Talk
11:06 ET - A long-time Kraft Heinz bull isn't convinced the food
giant will be able to drive sales growth enough to compete with
fast-moving peers, now that post-merger cost-cutting and
streamlining are done. Credit Suisse says the $1.7B merger savings
realized from the 2015 marriage of Heinz with Kraft has run out and
the investment bank doesn't see the current management being
effective in delivering on demands from big retailers like Walmart
who want more "promotional allowances, supply chain investment, and
category growth from their vendors." Credit Suisse drops Kraft
Heinz to underperform from outperform, lowers 2018 and 2019 EPS
estimates below consensus and drops target price to $55 from $77.
Kraft Heinz is off 1% at $60.38. (patrick.sheridan@wsj.com)
Seed Companies Lobby Food Makers on Gene Editing -- Market
Talk
13:58 ET - Crop-seed developers are trying to get food companies
comfortable with new gene editing technologies like CRISPR-Cas9.
The Center for Food Integrity, a Missouri-based trade group that
includes seed companies like Monsanto and DowDuPont, as well as
food giants such as Kroger and Hershey, is coordinating discussions
about how gene editing can help achieve sustainability goals, like
reducing carbon emissions and improving animal welfare. The group,
which set up a Coalition for Responsible Use of Gene Editing, is
also developing guidelines for the technology in agriculture.
(jacob.bunge@wsj.com; @jacobbunge)
FUTURES MARKETS
Snowstorm Threatens Cattle Country, Wheat Growers
A late-season snowstorm in the central U.S. sparked concerns
about damage to cattle and other agricultural goods on Monday.
As many as 20 inches of snow fell in northern Plains states like
Nebraska, South Dakota and Minnesota over the weekend, according to
the Commodity Weather Group, before giving way to rain as it moved
eastward through the Midwest.
CASH MARKETS
Zumbrota, Minn Hog $2.00 Higher At $32.00 - Apr 16
Barrow and gilt prices at the Zumbrota, Minn., livestock market are
$2.00 higher at $32.00 per hundredweight.
Sow prices are $1.00-$2.00 higher. Sows weighing 400-450 pounds are at $31.00-$33.00,
450-500 pounds are $31.00-$33.00 and those over 500 pounds are $35.00-$37.00.
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 - Apr 16
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
integrated operations
*
Apr 16 +$28.85 +$ 15.43
Apr 13 +$25.97 +$ 11.00
Apr 12 +$27.63 +$ 10.76
* 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.
Beef-O-Meter
This report compares the USDA's latest beef carcass composite
values as a percentage of their respective year-ago prices.
Beef
For Today Choice 98.9
(Percent of Year-Ago) Select 99.6
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Monday fell 82 cents per
hundred pounds to $211.79, according to the USDA. Select-grade
prices rose 7 cents per hundred pounds to $199.98. The total load
count was 116. Wholesale pork prices rose $2.06 to $67.58 a hundred
pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
April 16, 2018 17:27 ET (21:27 GMT)
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