LIVESTOCK HIGHLIGHTS: Top Stories of the Day
18 Abril 2018 - 4:58PM
Noticias Dow Jones
TOP STORIES
McDonald's Problems in India Grow With Tax Beef
MUMBAI -- Indian tax authorities have raided the offices of
McDonald's biggest partner in India, another potential setback for
the fast-food giant which was already locked in an ugly break up
with its only other licensee in the fast-growing South Asian
nation.
A spokeswoman for the income tax department said 20 locations
connected to Hardcastle Restaurants Pvt. Ltd., which runs more than
270 McDonald's in the south and west of India, had been raided in
the western cities of Mumbai and Pune.
Rodents Thrived at Farm Tied to Salmonella Outbreak -- Market
Talk
13:03 ET - A report released by the FDA shows rodents and other
unsanitary conditions were prevalent at a farm producing eggs
linked to a multistate salmonella outbreak. The agency's report
says Hyde County Egg, a North Carolina farm owned by Indiana-based
Rose Acre Farms, was the site of an "ongoing rodent infestation" in
its poultry houses as well as "insanitary conditions and poor
employee practices" in its egg-processing facilities that supported
the growth and spread of pathogens. The report comes days after
Rose Acre Farms recalled nearly 207 million eggs due to fears they
could be contaminated with salmonella and the CDC launched a probe
into the outbreak. (jesse.newman@wsj.com; @jessenewman13)
Fighting Words Start Farm Bill Mark Up -- Market Talk
11:48 ET - A partisan battle over the Farm Bill in the House
Agriculture Committee is starting to sound a lot like war. During a
meeting to consider the five-year bill unveiled in the House last
week, committee Democrats lambasted a legislative process they say
has upended a long tradition of bipartisanship on the committee and
text that is deeply flawed. Top Democrat Collin Peterson (D, Minn.)
kicked off opposition to the bill, calling proposals to expand work
requirements for food-stamp recipients an "ideological crusade,"
and expressing concern for the coalition of rural and urban
lawmakers tasked with providing a safety net for farmers and needy
Americans. "This bill ruins that coalition," Peterson said,
lamenting that "we're turning friends into enemies."
(jesse.newman@wsj.com; @jessenewman13)
STORIES OF INTEREST
Danone's 1Q Sales Mark Improved Pathway: Davy -- Market Talk
1015 GMT - Danone's first-quarter sales confirm that the company
is on an improved pathway, say analysts at Davy Research. The Irish
brokerage doesn't expect any material changes to forecasts, but
says the risk-reward profile is becoming more favorable at Danone.
Davy expects full-year top-line growth will be 1H-weighted due to a
moderation in early-life nutrition in China during the second half.
Danone shares trade up 2.2% at EUR67.52.
(anthony.shevlin@dowjones.com)
FUTURES MARKETS
Cattle Futures Rise as Meatpackers Gobble Up Livestock
Cattle futures rose after the week's physical trade started
higher.
Cattle markets fell sharply through March as traders bet that
supplies of slaughter-ready livestock would rise in the weeks and
months ahead. But prices have rebounded in April as factors
including bad weather helped stave off the worst of a surplus. That
has forced meatpackers to pay more to secure animals for their
plants.
April-dated live cattle futures rose 0.8% to $1.18975 a pound at
the Chicago Mercantile Exchange. The more-active June contract also
rose.
Hog futures also rose on Wednesday as packers sought more pigs
to slaughter, pushing cash prices higher. CME June lean hog
contracts rose 2.3% to 78.525 cents a pound.
CASH MARKETS
Zumbrota, Minn Hog $1.00 Higher At $33.00 - Apr 18
Barrow and gilt prices at the Zumbrota, Minn., livestock market
are $1.00 higher at $33.00 per hundredweight.
Sow prices are steady. Sows weighing 400-450 pounds are at
$33.00-$35.00, 450-500 pounds are $33.00-$35.00 and those over 500
pounds are $37.00-$39.00.
The day's total run is estimated at 1050 head.
Prices are provided by the Central Livestock Association.
Estimated U.S. Pork Packer Margin Index - Apr 18
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
integrated operations
*
Apr 18 +$21.95 +$15.17
Apr 17 +$27.50 +$16.10
Apr 16 +$28.85 +$15.43
* 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 98.4
(Percent of Year-Ago) Select 98.3
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Wednesday fell 49 cents per
hundred pounds to $211.64, according to the USDA. Select-grade
prices fell $1.01 per hundred pounds to $198.57. The total load
count was 169. Wholesale pork prices fell 43 cents to $67.46 a
hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
April 18, 2018 17:43 ET (21:43 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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