Consumer Foods & Agribusiness

Earnings season for our coverage kicks off tomorrow with Bunge and the fundamental backdrop for our agribusiness coverage seems to be more uncertain with many more crosscurrents than usual. Excepting DAR and GPRE, we expect…

With the exception of beef packers (est losses in the $200-ish/head range), the protein complex has enjoyed robust margins. We estimate that the average BB broiler producer is generating profits approaching $0.30/lb, while small- and…

The workshop is ongoing at present, but yesterday at noon ET, CARB published a slide deck to accompany the workshop hosted today (from noon to 7p ET). The rule is not yet definitive, but the…

As we noted in our industry notes published earlier today, we are not utilizing the typical rating system, but instead, are using a forced rank process. This note shows current ranking based upon Friday’s close.

Broadly speaking, the environment has been very favorable for global agribusiness companies in recent years, spurred by a combination of both supply and demand factors. Specifically, weather-related supply disruptions in key production regions have been…

We have followed the animal protein sector for many years and it is a given that it is typically more volatile than stable industries, such as packaged food and beverages. However, the level of volatility…