Despite last week’s rally in Cattle futures, negotiated cash fed cattle prices continued under pressure from available supplies and the continued bottleneck in fed cattle harvest capacity left from the Tyson fire.
Through Friday afternoon, USDA reported negotiated prices in the Texas Panhandle $1 lower at $99.
Week to week through Thursday afternoon, on lighter trade, the Five Area direct average steer price was $2.82 lower at $99.49/cwt. on a live basis.
Cattle futures closed narrowly mixed to marginally lower Friday as traders likely took some profits from the week’s strong gains.
Except for an average of 32¢ higher in the back two contracts, Live Cattle futures closed an average of 30¢ lower.
Feeder Cattle futures closed narrowly mixed, from 35¢ lower to 32¢ higher.
Wholesale beef values were steady on Select and higher on Choice, with moderate to good demand and offerings, according to the Agricultural Marketing Service.
Choice boxed beef cutout value was 91¢ higher Friday afternoon at $220.88/cwt. Select was unchanged at $198.60.
Corn and Soybean futures manly tread water Friday on likely week-end profit taking.
Corn futures closed mostly 1¢ higher across the front half of the board and then mostly fractionally lower to 1¢ lower.
Soybean futures closed 1¢ to 3¢ higher across the front half of the board and then mostly fractionally lower to 1¢ lower.
Major U.S. financial indices closed narrowly mixed and little changed Friday, with probably position squaring offsetting continued optimism over a trade resolution between the U.S. and China.
The Dow Jones Industrial Average closed 37 points higher. The S&P 500 closed 2 points lower. The NASDAQ was down 17 points.
Sustainability may not be a deal breaker for consumers, but it can be a tie breaker, according to recent research from the NPD Group.
“Marketers need to understand that sustainability can be a deciding factor for consumers,” says Darren Seifer, food and beverage industry analyst for NPD Group (NPD). “While concerns like taste, convenience, health, and affordability are still primary factors for choosing foods and beverages, a company’s sustainability efforts can be the tie breaker if all other factors are equal.”
According to NPD, 9% of adults consider the environment as a top factor when making food and beverage purchase decisions. Young adults, ages 18-44 years old, are most likely to feel this way.
That adds some quantification to the quest in recent years by grocers, food manufacturers and restaurant operators to initiate sustainability efforts as socially responsible corporate citizens and to support consumer interests.
Among NPD’s findings:
One in ten U.S. adults, or roughly 20 million consumers, said that they have switched to a different food or beverage brand because it had earth-friendly packaging.
Over half of adults who ordered restaurant take-out or delivery in the past 30 days report that the restaurant they ordered from had earth-friendly practices, like using food containers made from recycled materials, according to NPD’s Health Aspirations & Behavioral Tracking Service.