Laurel L. Simes – attorney leading the Lyft cases
Feeder and fed cattle are both kind of in the same boat right now, coasting before Labor Day, Oklahoma State University Extension livestock marketing specialist Derrell Peel said this week.
“We’re in the dog days of summer, and I think these markets are trying to just kind of hang on here for at least another two to three weeks at least until we get to where we can kind of think about fall markets as opposed to these summer markets,” he said.
Still, if you look at the seasonal patterns historically, Peel said there is plenty of opportunity for this market to have a seasonal low as the calendar marches towards Labor Day.
“It’s kind of a matter of trying to hang on,” he said, adding that the market does appear to be consolidating a bit.
However, the sector was dealt a blow this week after a Tyson Foods beef plant in Kansas burned, causing it to close indefinitely. Tyson has said it will rebuild.
“Obviously, there will be some fairly pronounced initial reactions, I would expect,” Peel said. “Some of that just stems from the uncertainty of sort of knowing where we are and how long this thing might last and exactly what the path back from this will be.”
Nevertheless, losing 4-5% of U.S. slaughter capacity will disrupt boxed beef supplies, Peel said, adding, “That will begin to show up.”
Steiner Consulting Group (SCG), in CME Group’s “Daily Livestock Report,” noted that the short-term effect is less beef available in the market.
“End users that normally would get product from this plant now will be serviced by other plants, but that will limit supplies in the spot market. Higher prices will be necessary to either ration out some demand or cause other packers to run extra shifts,” the group relayed.
Additionally, SCG said supplies in the spot market will likely be “very tight,” which normally results bidding wars.
With retailers gearing up for Labor Day promotions, the Choice beef cutout has been trending higher, SCG noted, adding that the plant fire will likely cause prices to advance further.
The fire also happened at a time when cattle need to be slaughtered in a timely fashion, Peel explained. As such, the industry may have to do some shuffling around.
“Fortunately, there are at least a couple of other major beef plants not far from there,” he said.
If cattle do get delayed a little bit in terms of reaching slaughter, Peel said weights could increase, which will affect supply.
“There’ll be a significant number of impacts across the board in fed cattle markets and boxed beef markets this week,” he said, adding that longer term, it is basically a wait-and-see situation.
SCG suggested that the impact on fed cattle prices generally will be negative, although the extent of the impact will depend greatly on how long it takes to bring this plant back to full production.
According to SCG, feedlot operators have a bit more flexibility than what hog operations would have, but the effect could still quickly increase the longer the plant stays out of commission, especially if it requires an adjustment to the flow of cattle through the entire supply chain.
“For that to happen, higher prices will be needed at the consumer level and lower prices at the producer level,” SCG said.
Colorado State University agricultural economist Stephen Koontz said the fire’s impact on fed cattle markets will be substantial.
“The market is in the middle of the third quarter: Supplies are heaviest, slaughter weights are ramping up and competing meat supplies will begin their fall increase. This is the quarter with the highest volume of beef supplies, and forecasts are for sustained supplies into the fourth quarter,” he said.
While the disruption occurred in the southern Plains, Koontz said it will spill over nationally.
“I anticipate that there will be more than a modest degree of panic as the largest annual supplies are moved around temporally and spatially,” he said. “The rest of this month will be difficult, and there is the potential for the disruption and accompanying volatility to continue into much of the fall.”
October live cattle futures contracts posted large losses this week, following news of the Tyson beef plant fire. Contracts closed lower Monday at $103.75/cwt., fell to $98.50/cwt. by Wednesday’s close and finished higher Thursday after a day of more losses, ending at $98.25/cwt.
Large losses ensued for September feeder cattle futures as well, with contracts closing lower Monday at $133.95/cwt. and Tuesday at $127.20/cwt. However, some of the losses were recovered as the week progressed, and contracts closed higher Thursday at $133.30/cwt.
Beef cutout prices rose as a result of the fire, with the Choice and Select cutouts both closing sharply higher Thursday at $236.12/cwt. and $210.67/cwt., respectively.
October lean hog futures were mixed but mostly lower. Contracts closed Monday at $67.075/cwt. and Thursday at $63.75/cwt.
The pork cutout was mostly lower this week, with the wholesale pork cutout closing at $88.23/cwt. Loins and hams were lower at $74.04/cwt. and $73.53/cwt. Bellies continued to rally higher, closing at $175.53/cwt.
Hogs delivered to the western Corn Belt were only slightly higher, closing Thursday at $72.70/cwt.
The U.S. Department of Agriculture reported the Eastern Region whole broiler/fryer weighted average price on Aug. 9 at 84.17 cents/lb.
According to USDA, egg prices were steady, with a higher undertone. Offerings were light to, at times, moderate. Demand was moderate to good.
Large eggs delivered to the Northeast were higher at 58-62 cents/doz. Prices in the Southeast and Midwest were also higher at 58-61 cents/doz. and 50-53 cents/doz., respectively. Large eggs delivered to California were $1.11/doz.
For turkeys, USDA said the market was steady to firm, and demand was light to moderate. The price range for hens and toms was unchanged, at 85-95 cents/lb.
Timpani Capital Management Llc decreased its stake in Insulet Corporation (PODD) by 61.65% based on its latest 2019Q1 regulatory filing with the SEC. Timpani Capital Management Llc sold 15,524 shares as the company’s stock rose 44.93% . The institutional investor held 9,658 shares of the medical and dental instruments company at the end of 2019Q1, valued at $918,000, down from 25,182 at the end of the previous reported quarter. Timpani Capital Management Llc who had been investing in Insulet Corporation for a number of months, seems to be less bullish one the $9.05 billion market cap company. The stock decreased 1.40% or $2.13 during the last trading session, reaching $150.18. About 523,259 shares traded or 0.10% up from the average. Insulet Corporation (NASDAQ:PODD) has risen 50.98% since August 12, 2018 and is uptrending. It has outperformed by 50.98% the S&P500. Some Historical PODD News: 22/04/2018 – DJ Insulet Corporation, Inst Holders, 1Q 2018 (PODD); 05/04/2018 – Report: Developing Opportunities within Insulet, Karyopharm Therapeutics, Playa Hotels & Resorts N.V, Cision Ltd., Freightcar A; 03/05/2018 – INSULET SEES 2Q REV. $130M TO $134M, EST. $131.5M; 03/05/2018 – INSULET CORP PODD.O : FOR THE YEAR ENDING DECEMBER 31, 2018, THE COMPANY IS RAISING ITS REVENUE GUIDANCE TO A RANGE OF $565 TO $580 MILLION; 04/05/2018 – INSULET CORP PODD.O : BMO RAISES TARGET PRICE TO $100 FROM $90; 31/05/2018 – Factors of Influence in 2018, Key Indicators and Opportunity within Insulet, Everi, Ciner Resources LP, Aluminum Corporation of; 03/05/2018 – Insulet Reports First Quarter 2018 Revenue of $123.6 Million, Up 21% Year-Over-Year, and Gross Margin of 61.4%, Up 300 Basis; 03/05/2018 – INSULET 1Q LOSS/SHR 11C, EST. LOSS/SHR 19C; 01/05/2018 – INSULET ESTABLISHES PARTNERSHIPS TO SUPPORT EUROPEAN EXPANSION; 03/05/2018 – INSULET REPORTS FIRST QUARTER 2018 REVENUE OF $123.6 MILLION, UP 21% YEAR-OVER-YEAR, AND GROSS MARGIN OF 61.4%, UP 300 BASIS POINTS, EXCEEDING EXPECTATIONS
Bank Of Nova Scotia increased its stake in Mondelez Intl Inc (MDLZ) by 2441.76% based on its latest 2019Q1 regulatory filing with the SEC. Bank Of Nova Scotia bought 1.83M shares as the company’s stock rose 3.58% . The institutional investor held 1.91M shares of the consumer non-durables company at the end of 2019Q1, valued at $94.83 million, up from 75,000 at the end of the previous reported quarter. Bank Of Nova Scotia who had been investing in Mondelez Intl Inc for a number of months, seems to be bullish on the $78.18B market cap company. The stock decreased 0.88% or $0.48 during the last trading session, reaching $54.21. About 2.85M shares traded. Mondelez International, Inc. (NASDAQ:MDLZ) has risen 24.40% since August 12, 2018 and is uptrending. It has outperformed by 24.40% the S&P500. Some Historical MDLZ News: 11/04/2018 – MONDELEZ REPORTS ON COCOA LIFE SUSTAINABLE SOURCING PROGRAM; 17/04/2018 – Mondelēz International Opens $90 Million ‘Factory of the Future’ in Bahrain; 05/03/2018 – Mondelez Follows Apple, McDonald’s in Offering Debut Maple Bonds; 15/05/2018 – TRIAN REDUCED MDLZ, WEN, PNR IN 1Q: 13F; 01/05/2018 – Mondelez 1Q EPS 62c; 02/04/2018 – MONDELEZ SAYS CEO DIRK VAN DE PUT’S 2017 TOTAL COMPENSATION WAS $42.4 MLN — SEC FILING; 16/05/2018 – Activists Buy Newell, Citi; Sell AIG, Mondelez: 13F Roundup; 29/03/2018 – MONDELEZ – DEBORA KOYAMA ASSUMES ROLE OF REGIONAL CHIEF MARKETING OFFICER FOR EUROPE, JOINING FROM ABINBEV; 15/05/2018 – TUDOR ADDED OA, VR, XL, SBUX, MDLZ IN 1Q: 13F; 22/04/2018 – DJ Mondelez International Inc Class , Inst Holders, 1Q 2018 (MDLZ)
Investors sentiment decreased to 0.99 in Q1 2019. Its down 0.08, from 1.07 in 2018Q4. It is negative, as 54 investors sold MDLZ shares while 399 reduced holdings. 127 funds opened positions while 321 raised stakes. 1.04 billion shares or 0.32% less from 1.04 billion shares in 2018Q4 were reported. Argi Investment Svcs Limited Liability Company reported 4,170 shares. Segall Bryant Hamill Ltd Liability Com owns 18,130 shares. Teachers Retirement System Of The State Of Kentucky accumulated 0.27% or 435,718 shares. Stillwater Capital Llc holds 222,372 shares or 2.42% of its portfolio. First Mercantile Trust holds 0.04% or 3,820 shares. Schulhoff And Communication owns 32,475 shares or 0.87% of their US portfolio. Cortland Associate Mo owns 0.09% invested in Mondelez International, Inc. (NASDAQ:MDLZ) for 10,993 shares. Sloane Robinson Limited Liability Partnership, a United Kingdom-based fund reported 4,900 shares. Aqr Capital Mgmt Limited Company reported 1.99M shares or 0.11% of all its holdings. Pitcairn Com holds 22,356 shares. 7.12 million are owned by Boston. Moreover, Vident Advisory Llc has 0.05% invested in Mondelez International, Inc. (NASDAQ:MDLZ) for 17,581 shares. Rathbone Brothers Public Ltd Com reported 268,384 shares. Capital Inv Lc holds 0.06% or 19,972 shares. Minnesota-based Us Bank & Trust De has invested 0.13% in Mondelez International, Inc. (NASDAQ:MDLZ).
Bank Of Nova Scotia, which manages about $25.24 billion US Long portfolio, decreased its stake in Raymond James Financial Inc (NYSE:RJF) by 253,003 shares to 66,576 shares, valued at $5.35M in 2019Q1, according to the filing. It also reduced its holding in Adobe Inc (NASDAQ:ADBE) by 283,336 shares in the quarter, leaving it with 190,705 shares, and cut its stake in Welltower Inc.
More notable recent Mondelez International, Inc. (NASDAQ:MDLZ) news were published by: Nasdaq.com which released: “Flowers Foods (FLO) Stock Dips on Q2 Earnings Miss, Sales Up – Nasdaq” on August 08, 2019, also Nasdaq.com with their article: “Mondelez (MDLZ) Expected to Beat Earnings Estimates: Should You Buy? – Nasdaq” published on April 23, 2019, Seekingalpha.com published: “Mondelez International +4% after organic sales impress – Seeking Alpha” on July 30, 2019. More interesting news about Mondelez International, Inc. (NASDAQ:MDLZ) were released by: Nasdaq.com and their article: “After-Hours Earnings Report for July 30, 2019 : AAPL, AMGN, GILD, MDLZ, CELG, PSA, AMD, ALL, EQR, OKE, EA, VRSK – Nasdaq” published on July 30, 2019 as well as Nasdaq.com‘s news article titled: “What’s in the Offing for Mondelez’s (MDLZ) Q2 Earnings? – Nasdaq” with publication date: July 24, 2019.
Timpani Capital Management Llc, which manages about $202.98 million and $209.22M US Long portfolio, upped its stake in Gds Holdings Limited by 50,275 shares to 70,711 shares, valued at $2.52 million in 2019Q1, according to the filing. It also increased its holding in Treehouse Foods Inc Com (NYSE:THS) by 6,820 shares in the quarter, for a total of 21,104 shares, and has risen its stake in 2U Inc (NASDAQ:TWOU).
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Some of the most prominent players in the indoor farming technology market are OSRAM GmbH, Signify, Agrilyst, Argus Control Systems, Certhon, Richel Group, and Aerofarms. The result of the emerging strategies and developments are already surging the market in the form of partnerships, collaborations, and joint ventures. Moreover, the growing market of indoor farming technology is further expected to increase the involvement of companies across different segments of the value chain. Majority of the companies preferred entering into business expansion and contract to enhance their presence, while the relatively less adoptive strategies comprised mergers and acquisitions, thus consolidating a small part of the market.
Since 2016, strategic partnerships, collaborations, and joint ventures across the value chain undertaken by several companies present in the indoor farming technology industry act as a premeditated move to sustain the competition. For instance, in March 2019, Nufarm acquired Syngenta and Adama Agriculture Solution Ltd. to capture its product portfolio of crop protection and to strengthen its market position. Earlier, in March 2019, Aerofarms partnered with Singapore Airlines to establish an on-plane farm for passengers of the airlines, the services for which shall begin in September 2019.
This report is a meticulous compilation of research on more than 100 players in the indoor farming technology ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 40 leading companies, market participants, and vendors. The report also profiles 24 leading companies across the indoor farming supply chain. Key profiles include Aerofarms, Agrilyst, Everlight Electronics, Netafim, Argus Control Systems, Curreny by GE, Signify, Agrilution, and Freight Farms, among others.
Key questions answered in the report:
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Lactalis do Brasil, a subsidiary of Groupe Lactalis, has announced the closing of its acquisition of Brazilian dairy company Itambé.
Founded in the state of Minas Gerais 70 years ago, Itambé Alimentos transforms 3 million litres of milk a day to produce a range of more than 160 dairy products.
With 7,000 suppliers and 3,600 employees, Itambé is one of the largest dairy players in Brazil. The firm has five production facilities: four in Minas Gerais and one Goiânia.
Lactalis entered the Brazilian market in 2013 with the acquisition of Balkis. In 2015, it expanded its operations with two further acquisitions.
Lactalis do Brazil has 5,000 employees and 14 production facilities in eight states. The company offers dairy products under brands such as Batavo, Président, Elegê, Cotochés, Poços de Caldas and Parmalat.
Lactalis said it will now be able to process 2.3 billion litres of milk a year in Brazil.
The announcement comes days after the company completed the acquisition of Ehrmann Commonwealth Dairy, the US yogurt business of Germany-based dairy company Ehrmann.
Earlier this year, Lactalis acquired Italian cheesemaker Nuova Castelli from private equity firm Charterhouse Capital Partners.
France-headquartered Lactalis has an annual turnover of around €18.5 billion, with cheese making up a third of its business.