Egg Glut Hurts Nation's Top Producer

Cal-Maine Foods Inc., the nation's largest egg producer, said it is being crushed by a glut of eggs that have pushed prices for the staple food sharply lower over the past year.

The company on Monday said its average sales price for a dozen eggs fell to about 92 cents in its latest quarter, down 30% from a year earlier.


Cal-Maine Reports Lower Feed Costs in F1Q -- Market Talk

08:56 ET - Cal-Maine Foods says the cost it paid to feed its chicken flock decreased slightly for F1Q 2020 ended Sept. 1 versus the same time period last year. Feed cost per dozen eggs averaged 41.1 cents per dozen, down from 41.3 cents last year. Meanwhile, other farm production costs rose 6% in the same timeframe. From June to September, corn futures on the CBOT fell roughly 15%. As of Monday morning, corn futures are up 0.1% to close to $3.72 per bushel. Last quarter, Cal-Maine reported a 5.3% increase in feed costs for fiscal year 2019. (; @kirkmaltais)




Midwest's Faltering Economies Will Spread Pain Nationwide -- Heard on the Street

With the fortunes of flashy young companies such as We Co. and Peloton stealing headlines, it may be easy to forget about the worsening economic condition of flyover country, USA. That would be a mistake.

Regional economic indicators suggest that the financial health of the Midwest is waning, as trade tariffs start to take their toll on sectors from farming to manufacturing. The implications for the U.S. economy at large are significant.


Marriott Adds Beyond Meat To Courtyard Menu -- MarketWatch

Marriott International Inc. (MAR) said Monday that it will add Beyond Meat Inc. (BYND) items to the menu at Courtyard by Marriott's Bistro Bar starting October 2. Items like the Beyond Burger and the Beyond Meat Roasted Red Pepper Flatbread will be available at nearly 1,000 North American hotels. Marriott stock has risen 13.3% in 2019, but is down 12.3% over the last three months. Beyond Meat stock is down 8.2% for the past three months. And the S&P 500 index is up 1.2% for the period.


Agriterra Shares Fall on Accounts Delay, Expected Suspension

Shares in Agriterra Ltd. (AGTA.LN) fell Monday after the company said it will be unable to publish its audited report for fiscal 2019 because of thefts committed against the company.

The AIM-listed agricultural company said the delay in the publication of its accounts for the year ended March 31, which will lead to a share suspension, is due to two thefts which must be investigated before the report's release. Staff involved in this thefts have been dismissed, the company said. The thefts are estimated to amount to less than $15,000, the company said.




Hog Futures Finish Higher as Cutout Prices Rise -- Market Talk

15:37 ET - Indications that hog prices are trending higher, in the cash market and elsewhere, are pushing up futures. Lean hog futures finished the day up 3.9% at 72.6 cents per pound -- the highest hogs on the CME have traded at since Sept. 5. Prices for most pork cutouts have been on the rise nationally, with only pork loin and ham reporting slight declines this afternoon. Meanwhile, live cattle futures fell 0.3% to $1.103 per pound. (; @kirkmaltais)



Estimated U.S. Pork Packer Margin Index - Sep 30 
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 
Sep 30       +$ 44.38            +$ 27.19 
Sep 27       +$ 45.00            +$ 25.58 
Sep 26       +$ 40.36            +$ 23.94 
* 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. 
This report compares the USDA's latest beef carcass composite 
values as a percentage of their respective year-ago prices. 
          For Today             Choice  104.2 
      (Percent of Year-Ago)     Select   96.7 
USDA Boxed Beef, Pork Reports 

Wholesale choice-grade beef prices Monday fell 14 cents per hundred pounds to $212.44, according to the USDA. Select-grade prices fell $2.75 per hundred pounds to $187.11. The total load count was 106. Wholesale pork prices rose 75 cents to $73.05 a hundred pounds, based on Omaha, Neb., price quotes.

(END) Dow Jones Newswires

September 30, 2019 17:32 ET (21:32 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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