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LIVESTOCK HIGHLIGHTS: Top Stories of the Day

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07/26/2019 | 05:44pm EDT

TOP STORIES

Upgraded Stores Boost McDonald's Sales

McDonald's Corp. said sales grew world-wide in its latest quarter after the burger giant made improvements at its stores and implemented new digital-ordering capabilities.

McDonald's on Friday reported adjusted earnings per share of $2.05 for the second quarter, in line with analyst projections and up 3% from a year earlier. Revenue of $5.34 billion was flat compared with a year earlier.

Analysts polled by FactSet expected earnings of $2.05 cents a share excluding one-time items, along with $5.3 billion in sales.

How to Make a Fat Profit From Lean Hog Futures -- Barrons.com

Commodity investors should consider pigging out on lean hogs. A record-breaking drop in global pork production will mean a massive shortfall of meat, which could spark a rally in hog prices of at least 20% by year end.

"There isn't enough pork in the word to solve this shortage," Shawn Hackett, president of Boca Raton, Fla.-based Hackett Financial Advisors, told Barron's. "Certainly, it can go back and retest these highs we saw earlier the year, and it may not stop there."

The price of lean hogs could hit $1 per pound or more by year end, up from about 80 cents recently. Prices reached a peak of around 99 cents in April before pulling back, according to Bloomberg data.

STORIES OF INTEREST

BJ's Finds Less Fuel from Delivery -- Market Talk

14:45 ET - BJ's Restaurants says delivery competition is escalating, slowing its own growth rate. The fast-casual chain is also seeing less customer interest as it shifts from costly free delivery promotions through DoorDash to a cheaper dessert deal, executives tell investors in discussing disappointing 2Q results. BJ's also reports an increase in operating expenses as a percentage of sales because of delivery fees. Restaurants are increasingly adopting delivery through third parties but worry about the pressure the costs have on their slim profits. BJ's gains 0.4% to $38.92 but is down 23% this year. ([email protected]; @heatherhaddon)

FUTURES MARKETS

Hog Prices Rise, While Cattle Hits Resistance -- Market Talk

16:13 ET - Hog prices resume their recent advance on the CME on hopes for heightened global demand as African swine fever continues to decimate Chinese pork supplies. Market watchers are looking for any signs or progress as trade talks get set to resume in China next week. Lean hogs rise 0.5% to 86.425 cents per pound, up from 83.875 cents a week ago. Cattle hits $1.10 per pound for the fourth straight session, but fails to close above that mark again, ending the session flat at $1.099 per pound. ([email protected])

CASH MARKETS

 
Estimated U.S. Pork Packer Margin Index - Jul 26 
 
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 
 
Jul 26       -$  5.22            +$ 49.06 
Jul 25       -$ 10.86            +$ 47.81 
Jul 24       -$ 11.78            +$ 42.31 
 
* 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  103.5 
      (Percent of Year-Ago)     Select   95.0 
 
USDA Boxed Beef, Pork Reports 

Wholesale choice-grade beef prices Friday fell 40 cents per hundred pounds, to $212.17, according to the USDA. Select-grade prices fell 84 cents per hundred pounds, to $188.34. The total load count was 98. Wholesale pork prices rose 58 cents, to $83.22 a hundred pounds, based on Omaha, Neb., price quotes.

Stocks mentioned in the article
ChangeLast1st jan.
FEEDER CATTLE?FUTURES (GF) - CMG (ELECTRONIC)/C1 0.40% 143.575 End-of-day quote.-3.44%
LEAN HOGS (HE) - CMG (ELECTRONIC)/C1 0.14% 86.45 End-of-day quote.41.74%
LIVE CATTLE (LE) - CMG (ELECTRONIC)/C1 0.21% 108.875 End-of-day quote.-12.76%
THE HACKETT GROUP, INC. 2.49% 16.85 Delayed Quote.5.25%
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