Podcast hosted by Hedgeye CEO Keith McCullough, Real Conversations

Real Conversations

Podcast hosted by Hedgeye CEO Keith McCullough

Hedgeye is an investment research and financial media company founded in 2008. Our core principles are transparency, accountability and trust. Hedgeye’s Real Conversations series, hosted by CEO Keith McCullough, brings together the brightest minds in the business to cut through the noise and discuss the financial market moves that actually matter.LEGALThe opinions expressed in Hedgeye Real Conversations are those of the individual speaking and not of Hedgeye, and should not be construed as specific investment advice. Hedgeye® is a registered trademark. All Hedegye Real Conversations are the intellectual property of Hedgeye. All rights reserved.

Cross Asset Strategy

<ul><li>Russell was down almost a full percent last week, but consumer staples, MLPS, and shipping performed well</li><li>Domino's reported slightly lower earnings and showed signs of global headwinds, momentum slowing</li><li>China looks like a good long bias opportunity for the second half of 2024, while consumer staples are poorly positioned for reaccelerating inflation</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

Russell was down almost a full percent last week, but consumer staples, MLPS, and shipping performed wellDomino's reported slightly lower earnings and showed signs of global headwinds, momentum slowingChina looks like a good long bias opportunity for the second half of 2024, while consumer staples are poorly positioned for reaccelerating inflationThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

United States

Campbell Soup Company, with its subsidiaries, manufactures and markets branded convenience food products.  The Company's core divisions include soups and sauces, biscuits and confectionery, and foodservice.  Campbell's distributes its products worldwide.

Pilgrim's Pride Corporation produces prepared and fresh chicken products in the United States and Mexico.  Through vertical integration, the Company controls the breeding, hatching, and growing of chickens and the processing, preparation, and packaging of its product lines.  Pilgrim's Pride exports its products to Canada, Eastern Europe, the Far East, and other world markets.

Bunge Limited is a global agribusiness and food company. The Company buys, sells, stores, transports and processes oilseeds and grains to make protein meal for animal feed and edible oil products for commercial customers and consumers. Bunge also produces sugar and ethanol from sugarcane, mills wheat and corn, and sells fertilizer.

ConAgra Foods, Inc. manufactures and markets packaged foods for retail consumers, restaurants and institutions. The Company offers a wide range of food products, including meals, entrees, condiments, sides, snacks, specialty potato products, milled grain ingredients, dehydrated vegetables and seasonings, and blends and flavors.

JBS S.A. operates as a processor of a range of meats. The Company processes meats, such as beef, pork, lamb and chicken, as well as the hides. JBS exports its products throughout the world.

Lamb Weston Holdings, Inc. operates as a holding company. The Company, through its subsidiaries, produces and supplies frozen potato products. Lamb Weston Holdings offers fries, oven roasted potatoes, puffs, chips, slices, and prepared potato products.

Ingredion Incorporated refines corn and produces sweeteners and starches.  The Company has customers in a wide range of industries, including the food, soft drink, brewing, pharmaceutical, corrugating, paper, and textile industries.  Ingredion has Company-owned operations, joint ventures, alliances, and technical licenses in countries around the world.

Hormel Foods Corporation manufactures and markets consumer-branded meat and food products.  The Company processes meat and poultry products and produces a variety of prepared foods.  Hormel markets its products around the world under a variety of branded names.

Post Holdings Inc. is a food company. The Company manufactures, distributes, and markets a wide range of ready-to-eat cereal products.

Wilmar International Ltd. is an agribusiness company. The Company is involved in oil palm cultivation, edible oils refining, oilseeds crushing, consumer pack edible oils processing and merchandising, specialty fats, oleochemicals and biodiesel manufacturing, and grains processing and merchandising. Wilmar also manufactures and distributes fertilizers and owns a fleet of vessels.

Tata Consumer Products Limited produces food and beverage products. The Company manufactures, sells, and exports tea, coffee, salt, oil, pulses, spices, and food products. Tata Consumer Products serves customers worldwide.

Uni-President Enterprises Corp. manufactures, processes, and markets instant noodles, dairy products, frozen foods, soft drinks, soy sauces, canned pickles, meat products, animal feeds, aquatic feeds, edible oils, bread, cakes, and desserts.  The Company also operates vending machines and food distribution centers in Taiwan.

KIKKOMAN CORPORATION produces and markets soy sauce, alcoholic beverages, and other food products.  The Company has marketing rights for Del Monte brand products outside of the United States.  Kikkoman also operates restaurants in Japan and other countries.

NISSIN FOODS HOLDINGS CO.,LTD. produces instant noodle and processed food products.  The Company also develops pharmaceuticals.  NISSIN FOODS operates production facilities in overseas countries including Hong Kong, India, U.S., Singapore, and other countries.

WH Group Limited operates as a holdings company. The Company, through its subsidiaries, provides meat processing services, supplies chilled meat, meat products, and other related products.

Tongwei Co., Ltd. produces and markets aquatic and animal feeds. The Company also sells animal medicines.

Guangdong Haid Group Company Ltd. manufactures and markets animal feeds.  The Company imports distiller's dried grains with solubles for ingredient in fish and animal feeds.

Henan Shuanghui Investment & Development Co., Ltd. is an investment holding company.  Through its subsidiaries, the Company manufactures meat products and frozen food, provides processing and printing services, as well as operates in commercial trading.

Henan Shuanghui Investment & Development (000895 CH)

Lotus Bakeries produces cakes and industrial pastry, waffles and galettes, and caramelized biscuits.  The Company's brands are sold mainly in Belgium, Luxembourg, the Netherlands, France, Germany, the United Kingdom, Austria, the Czech Republic, the United States, and Asia.  Lotus distributes its products through retail, catering, and food services.

The JM Smucker Company manufactures and markets food products on a worldwide basis. The Company's principal products include peanut butter, shortening and oils, fruit spreads, canned milk, baking mixes and ready-to-spread frostings, flour and baking ingredients, juices and beverages, frozen sandwiches, dessert toppings, syrups, pickles and condiments, and potato side dishes.

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Jm Smucker Co (SJM US)

The Call @ Hedgeye | February 26, 2024

Last week saw a mixed market with Russell down almost 1%, consumer staples and MLPs performing well, Howard's cannabis MSOs showing strength,...

Real Conversations

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