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LIVESTOCK HIGHLIGHTS : Top Stories of the Day

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12/06/2016 | 11:36pm CEST
   TOP STORIES 
 

Carlyle Consortium Nears Deal to Buy McDonald's China Franchise -- Update

A consortium including private-equity giant Carlyle Group LP is close to a deal valued at as much as $2 billion to buy McDonald's Corp.'s China franchise, giving the U.S. fast-food chain operator cash and local help cracking the China market.

McDonald's is selling a roughly 80% stake in its China franchise to the Carlyle consortium, which also includes Chinese state-owned conglomerate Citic Ltd., the people said. The deal, which still needs a final sign off from the McDonald's board, could fetch the fast-food operator an upfront payment of between $1.5 billion and $2 billion, according to people familiar with the situation.

Chipotle Seeks to Lure Customers With Better Service -- 2nd Update

Chipotle Mexican Grill Inc. has a new problem: poor customer service.

The burrito chain, battered by disease outbreaks last year, says cleanliness in its restaurants and speed of service have suffered as a result of a new focus on food safety.

 
   STORIES OF INTEREST 
 

ANZ Raises New Zealand Milk Price Forecast -- Market Talk

2114 GMT - ANZ ups its forecast for New Zealand's farmgate milk price to NZ$6.25/kg following another strong outcome in the Global Dairy Trade auction overnight. Dairy prices rose by 3.5% in the auction, while the key whole milk powder price increased by 4.9%. "Current market indicators are now pointing toward a NZ$6.40-NZ$6.50/kg milk solids milk price in 2016/17," ANZ says. "This assumes current prices can hold through the remainder of the season." Prices are being driven by tighter milk supply in New Zealand and overseas, although ANZ expects this to ease over the New Year period. This is due to higher global farmgate prices now filtering through, the onset of warmer conditions in New Zealand, and European seasonality, it says. The NZD/USD was last at 0.7114, having traded in a range of 0.7103-0.7161 during US hours. ([email protected]; @dwinningWSJ)

Demand, World Weather Worries Boost Corn, Soybeans

CHICAGO--Soybean futures extended gains Tuesday amid export demand for the crop and concerns over poor world weather. Corn climbed while wheat was mixed.

Soybean prices rose for a second consecutive session, buoyed by evidence that major world buyers of the oilseeds still are in the market for U.S. soybean supplies when importers typically begin shifting purchases of the crop to South America. The U.S. Department of Agriculture said private exporters had sold 198,000 metric tons of soybeans for delivery to China, as well as 378,000 tons of soybeans to unknown destinations. The government's sales announcement marks the second in as many days, and fueled hopes that a brisk export pace this year will keep domestic supplies from becoming burdensome.

 
   FUTURES MARKETS 
 

U.S. Cattle Futures Rebound as Early Cash Bids Climb

CHICAGO--The cattle market rebounded midday Tuesday, lifted by signs of stronger-than-expected demand for beef after a three-session drop.

December live-cattle futures soared 2.025 cents, or 1.9%, to $1.0985 a pound on the Chicago Mercantile Exchange. February live-cattle futures rose 2.075 cents to $1.1105 a pound.

 
   CASH MARKETS 
 
Zumbrota, Minn Hog Market Steady At $27.00 - Dec 6 
 

Barrow and gilt prices at the Zumbrota, Minn., livestock market today are steady at $27.00 per hundredweight.

Sow prices are steady. Sows weighing under 450 pounds are $21.00-$22.00, 400-450 pounds are at $21.00-$22.00, 450-500 pounds are $21.00-$22.00 and those over 500 pounds are $23.00-$24.00. The day's total run is estimated at 150 head.

Prices are provided by the Central Livestock Association.

 
Estimated U.S. Pork Packer Margin Index - Dec 6 
 
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 
                                      * 
Dec 06       +$45.13             +$ 25.72 
Dec 05       +$50.03             +$ 25.36 
Dec 02       +$48.46             +$ 23.34 
 
* 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   93.9 
      (Percent of Year-Ago)     Select   91.0 
 
USDA Boxed Beef, Pork Reports 

Wholesale choice-grade beef prices Tuesday fell 88 cents per hundred pounds, to $190.51, according to the USDA. Select-grade prices were unchanged at $173.23. The total load count was 123. Wholesale pork prices rose 17 cents, to $73.70 a hundred pounds, based on Omaha, Neb., price quotes.

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