LIVESTOCK HIGHLIGHTS: Top Stories of the Day
April 13 2021 - 5:06PM
Dow Jones News
TOP STORIES
Demand for Dining Is on the Rise, While Supply Issues Become
More Manageable
People are eager to splurge on meals, says Chris Pappas, chief
executive of Chefs' Warehouse Inc., a food supplier that sells to
restaurateurs and dining groups.
"There is tremendous pent-up demand for aspirational dining,
celebratory dining," Mr. Pappas said in an interview. "In Florida,
restaurants are packed; the more seats they add, the more customers
they are getting."
STORIES OF INTEREST
Grocery Owners May Struggle to Match Last Year's Success
Owners of grocery stores were among the biggest real estate
winners last year. Now, some property owners worry that the
business looks poised to slip this year.
Pandemic lockdowns forced restaurants to close and then limit
service, but supermarkets and grocery stores were spared because
they were deemed essential. Customers stocked up on food and other
goods. Those dynamics helped boost U.S. grocery sales by 11% in
2020, more than triple the growth of the previous two years,
according to data from the U.S. Census Bureau.
Corn Rises on Brazilian Crop Dryness
Corn for May delivery rose 1.9% to $5.80 a bushel on the Chicago
Board of Trade Tuesday in reaction to dry conditions seen in
Brazilian crop-growing areas.
Soybeans for May delivery rose 0.5% to $13.89 1/2 a bushel.
Wheat for May delivery rose 0.3% to $6.29 3/4 a bushel.
Just Eat Takeaway Tests Grocery Delivery, But Rules Out Major
Investment -- Market Talk
0826 GMT - Just Eat Takeaway.com is doing tests in grocery
delivery but doesn't plan to make large investments in the sector
as it sees a small market likely inflated by the pandemic with many
players already, Chief Executive Jitse Groen says. "I think the
business model is challenging. That doesn't mean that we don't like
the proposition," Groen says in a call with reporters. The
Amsterdam-based food-delivery company would only move into grocery
delivery if it can do that without hurting gross profit, Groen
says. "We're looking at a couple of those possibilities, but we
will not invest great amounts of money in it simply because it's
not our core business and does not compete with our core business,"
he says. (adria.calatayud@dowjones.com)
FUTURES MARKETS
Cattle Futures Drop as Feed Costs Rise -- Market Talk
1456 ET - Live cattle futures finish 1% lower, partially in
reaction to higher corn prices seen on the CBOT. "Feeder cattle
demand softened as corn prices surged, weighing on live cattle
futures as well," says Arlan Suderman of StoneX. Corn -- a common
feed ingredient -- saw it most-active contract rise 1.9% in trading
today, bringing it to over $5.80 per bushel. Meanwhile, lean hog
futures finished neutral in trading Tuesday, ending the session
virtually unchanged at $1.06175 per pound. (kirk.maltais@wsj.com;
@kirkmaltais)
CASH MARKETS
Estimated U.S. Pork Packer Margin Index - Apr 13
This report reflects U.S. pork packer processing margins. The margin indices
are calculated using current cash hog or carcass values and wholesale pork
cutout values and may not reflect actual margins at the plants. These
estimates reflect the general health of the industry and are not meant to
be indicative of any particular company or plant.
Source: USDA, based on Wall Street Journal calculations.
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
integrated operations
Apr 13 +$ 13.46 +$ 97.92
Apr 12 +$ 9.91 +$ 92.93
Apr 9 +$ 16.81 +$ 98.91
* 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 120.6
(Percent of Year-Ago) Select 127.9
This report compares the USDA's latest beef carcass composite
values as a percentage of their respective year-ago prices.
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Tuesday fell $1.30 per
hundred pounds, to $270.11, according to the USDA. Select-grade
prices rose 38 cents per hundred pounds, to $266.54. The total load
count was 125. Wholesale pork prices rose $2.32, to $111.28 a
hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
April 13, 2021 17:51 ET (21:51 GMT)
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