The cash cattle trade will be quiet through the day with bids and asking prices poorly defined. Indeed, it seems like a reasonable bet that significant trade volume will be delayed until Thursday or Friday. Eventually, look for feedlot managers to price showlists $1 to $3 higher than last week. Live and feeder cattle futures should open moderately higher, supported by spillover buying and cash optimism.
Cash hog buyers should resume work Tuesday with bids steady to $1 lower. Ready-market hog numbers should be ample through the end of the year, lending packers plenty of leverage in the country. Lean hog futures are expected to open moderately higher, supported by firm cash business on Monday and limited short-covering.
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Beef cutouts opened the week solidly higher with further price progress on Monday and box movement described as moderate-to-fairly active.
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New showlists distributed on Monday in feedlot country were mixed, although overall ready numbers appear to be somewhat larger than the previous total.
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The pork carcass value was marked nearly a buck higher Monday with all primals lending support except the loin.
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December live cattle futures tend to head lower in early November.
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The seasonal tendency is for December lean hogs to trade sideways in early November and then turn higher into December.
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Some early estimates call for this week's hog kill to be as large as 2,608,000 head. If realized, this figure would represent a 1.5% increase from last week and 6.8% over a year ago. This would also be a new all-time high for the weekly hog slaughter, extending past the old record of 2.589,000 head set last week.
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| 4) | 4) |
While lean hog futures have rallied some in recent sessions, the short-term trend is bearish and the longer-term trend remains bearish.
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CATTLE:(The Motley Fool) -- People all over the world still want their Big Macs, Chicken McNuggets, and of course, their McDonald's (NYSE:MCD)french fries -- but more and more of them would prefer not to have to go all the way to a McDonald's to get them. And the fast-food giant is obliging them, with an ongoing expansion of its delivery footprint that now includes more than 15,000 of its 37,000 locations.
CEO Steve Easterbook says that's only the beginning, and he laid out aggressive plans to continue that expansion during the chain's third-quarter earnings call. He also explained why he feels McDonald's has an edge in delivery over its rivals.
"We have a massive global footprint, which provides a distinct advantage by placing us closer to more customers than any of our competitors," he said. "We are focused on expanding coverage, growing demand, and innovating to increase efficiency and provide better service to our customers."
What's next for McDelivery?
In some major markets, among them the U.K., Australia and France, delivery now accounts for as much as 10% of sales at the locations that offer it, Easterbrook noted. The chain will bring the service to thousands of additional locations by the end of the year, when it forecasts the U.S. numbers will be around 9,000 out of a total of roughly 14,000 sites.
"We're working to encourage existing delivery customers to order more regularly as we also strive to raise awareness that McDonald's offers this convenient option," said Easterbrook.
Beyond that, the CEO said that innovation remains a priority. He noted that the delivery market is evolving rapidly, and said that McDonald's will continue to tweak its offerings.
"We are seeing improved speed and accuracy after completing an initiative early this year to integrate delivery orders into our point-of-sale systems in many of our restaurants," he said. "We are exploring additional innovation opportunities ranging from integrating delivery ordering through our mobile app, to new packaging that will protect the quality of our food, to new approaches that improve efficiency at our restaurants with the highest delivery volumes."
HOGS: (AP) -- The world's largest pork producer says it plans to install covers over pig waste lagoons at most of its North Carolina hog farms.
WRAL-TV reports Smithfield Foods also says in a Thursday statement it would install new "low trajectory" tools to spread hog waste on nearby fields, replacing the sprinklers some neighbors complain spray feces into the wind.
Smithfield says it'll install projects to cover lagoons and capture methane the waste emits in an effort to convert it into renewable biogas and cut greenhouse gas emissions.
Southern Environmental Law Center attorney Blakely Hildebrand says in a Friday statement the plan doesn't solve pollution problems from the lagoons that affect poor, rural communities across eastern North Carolina and have triggered nuisance lawsuits. Hildebrand says Smithfield could've invested in more responsible technology, especially amid intense storms.
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| #chh |
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