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Home>LIVESTOCK HIGHLIGHTS: Top Stories of the Day

LIVESTOCK HIGHLIGHTS: Top Stories of the Day

LIVESTOCK HIGHLIGHTS: Top Stories of the Day

09/26/2017

TOP STORIES

 

Cargill Folds UK Chicken Unit into New Venture -- Market Talk

10:24 ET - Consolidation continues among European poultry suppliers as agribusiness conglomerate Cargill says it will combine its UK fresh chicken operations with the poultry business of Faccenda Foods to create an as-yet unnamed venture in which both firms will own an equal stake. CEO of the new company, Andy Dawkins, comes from Faccenda Foods -- like Cargill, a family-owned company -- and Cargill's European fresh chicken director Chris Hall will join the 6,000 person venture as chief commercial officer. Earlier in September US chicken company Pilgrim's Pride agreed to buy UK-based chicken processor Moy Park for $1.3B, extending its reach into the EU, the world's third-largest chicken market by consumption. (jacob.bunge@wsj.com; @jacobbunge)

 

Corn Goes from Farm Fields to Battlefields -- Market Talk

14:28 ET - The corn industry's ongoing quest to refine the most widely grown US crop into more industrial and consumer products has led farmers to the gun business. The National Corn Growers Association says it's investing with Missouri-based gun oil supplier QMaxx Products Group to develop corn-based gun oil for cleaning, lubricating and protecting firearms, which QMaxx expects to eventually submit for US Army analysis. The NCGA acknowledges any corn-based gun oil market will likely translate to just a "modest" increase in additional corn demand, but says there are other potential applications of the same base product. Corn's previously been processed to make foam packaging, carpet fibers and kitty litter. (jacob.bunge@wsj.com; @jacobbunge)

 

STORIES OF INTEREST

 

Can Queso Save Chipotle? -- Market Talk

11:48 ET - Chipotle's new queso boosted traffic in the first week of its national rollout on Sept. 12, but the gain from the cheesy dipping sauce was short-lived, Cowen found. The investment firm compared Facebook check-ins at Chipotle following the launch with check-ins in the weeks leading up to it and saw that check-ins returned to normal levels in the second week. The number of check-ins following the queso launch were only 4% higher than the level averaged for the first 16 days of 3Q prior to a norovirus incident on July 17. Concluded Cowen: "We do not expect queso to be a sustainable sales driver." (julie.jargon@wsj.com)

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