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March 18, 2023

Oatly going on offense | Food Business News

MALMO, SWEDEN — With its supply chain and capability challenges, specially in North America, largely solved, Oatly Group AB is likely on offense. New potential to fulfill customer need means the company will be searching for to get additional goods on grocery store shelves and foodservice menus around the earth in the calendar year in advance.

This earlier January, Oatly Team divested some producing assets in North The united states to Ya YA Foods, Etobicoke, Ont., a agreement producer of aseptic meals and beverage products and solutions.

“Now that the supply chain is back again on firmer footing and we have the ability to fulfill our estimated demand in the around to medium time period, we can aim much more on creating consciousness, demo, repeat and finally brand loyalty,” claimed Toni Petersson, main government officer, for the duration of a March 15 meeting call with analysts to focus on fiscal 2022 final results.

The organization also declared March 15 it experienced entered privately negotiated agreements with specified traders to increase $300 million. In addition, the firm reported it had entered a revolving credit rating facility worth $125 million.

“When we combine the proceeds from this funding event with the proceeds from the Ya YA Meals transaction, we have raised about $450 million,” claimed Christian Hanke, chief fiscal officer. “We intend to use these money as fuel to travel our advancement. The cash will be made use of for pursuits these types of as completing our provide chain network build-out, efficiency programs and moving into new markets.”

Daniel Ordonez, main running officer, stated the capability concerns forced Oatly to be silent in the industry for approximately 18 months.

“So, we are coming again,” he reported. “… We have a good deal of distribution to be gotten out of present doorways — new goods in present doorways. Imaging, we common two objects for each doorway, at the second, with a selection of four. Visualize now, with (the) accessible potential, what we can realize.”

Mr. Petersson additional that Oatly will be accelerating in-retailer promotions in the initial quarter and strategies to acquire “significant visibility and competitiveness.”

Although management sees better days in advance, the company struggled in fiscal 2022, finished Dec. 31. Oatly incurred a decline of $393 million, higher than the reduction of $212 million the year in advance of.

Once-a-year sales rose to $722 million in 2022, up from $643 million the year in advance of.

Objects impacting profitability bundled supply chain difficulties that limited output, notably in North The us, COVID limits around the environment, and an asset impairment demand of $40 million related to the agreement with Ya YA Meals.

In fiscal 2023, Oatly is guiding profits growth of 23{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} to 28{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} more than fiscal 2022 on a consistent currency foundation.

“… We believe that our development in 2023 will set us up for fiscal year 2024 to produce constructive adjusted EBITDA on a full 12 months basis,” Mr. Hanke mentioned.

The corporation also is guiding gross margin growth all through fiscal 2023.

“Walking from fourth quarter 2022 to the fourth quarter of 2023, we count on advancement to come from 4 critical buckets,” Mr. Hanke explained. “Fewer COVID-19-related a single-offs in Asia, which we count on to a lot more thoroughly movement via starting up in the next quarter as the initial quarter is anticipated to even now have some lingering COVID-19 impacts. EMEA selling price raises, which have now been implemented. Third, increasing America’s channel combine as we develop distribution. And ultimately, and an advancement in our price tag for every liter, pushed by enhancing utilization and co-packer consolidation, web of mid-single-digit inflation. With this, we expect to have the gross margin in the large 20s in the fourth quarter of 2023.”

September 28, 2022

National Bank Financial Analysts Lift Earnings Estimates for MTY Food Group Inc. (TSE:MTY)

MTY Foodstuff Group Inc. (TSE:MTY – Get Score) – Investment analysts at Nationwide Financial institution Economical upped their FY2023 EPS estimates for MTY Food items Team in a exploration report issued to consumers and investors on Monday, September 26th. Countrywide Lender Fiscal analyst V. Shreedhar now forecasts that the firm will get paid $4.48 for every share for the calendar year, up from their past forecast of $4.45. The consensus estimate for MTY Food items Group’s existing total-year earnings is $4.40 per share.

MTY Foods Team (TSE:MTY – Get Rating) last issued its quarterly earnings information on Friday, July 8th. The business reported C$1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.00 by C$.17. The company experienced profits of C$162.52 million for the quarter, in contrast to analyst estimates of C$155.00 million.

A amount of other analysis companies have also commented on MTY. Nationwide Bankshares greater their value goal on MTY Food stuff Group from C$63.00 to C$68.00 and gave the corporation an “outperform” ranking in a investigation take note on Wednesday, August 10th. TD Securities lifted their selling price target on shares of MTY Food items Team from C$62.00 to C$70.00 and gave the stock a “keep” score in a investigation note on Wednesday, August 10th. Royal Financial institution of Canada boosted their price objective on shares of MTY Food Group from C$66.00 to C$67.00 and gave the firm a “sector conduct” ranking in a research report on Wednesday, August 10th. CIBC lifted their goal price tag on shares of MTY Meals Group from C$68.00 to C$75.00 and gave the stock an “outperform” rating in a investigation report on Friday, August 12th. At last, Scotiabank boosted their rate target on MTY Food items Team from C$64.00 to C$68.50 in a report on Wednesday, August 10th. A single expense analyst has rated the stock with a promote ranking, a few have assigned a hold ranking and 4 have issued a acquire score to the inventory. According to details from MarketBeat.com, the inventory currently has a consensus rating of “Maintain” and a consensus cost target of C$70.94.

MTY Food stuff Team Stock Effectiveness

MTY Foodstuff Group stock opened at C$56.71 on Wednesday. MTY Foodstuff Team has a fifty-two week reduced of C$45.20 and a fifty-two week superior of C$71.91. The corporation has a market capitalization of C$1.38 billion and a value-to-earnings ratio of 14.85. The inventory has a fifty day transferring ordinary of C$59.14 and a two-hundred working day moving normal of C$54.89. The organization has a personal debt-to-fairness ratio of 118.74, a swift ratio of .57 and a present ratio of .63.

MTY Foodstuff Team Announces Dividend

The enterprise also lately declared a quarterly dividend, which was paid on Monday, August 15th. Buyers of record on Wednesday, August 3rd had been issued a $.21 dividend. This signifies a $.84 dividend on an annualized basis and a produce of 1.48{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. The ex-dividend date of this dividend was Tuesday, August 2nd. MTY Foods Group’s payout ratio is at present 20.68{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}.

MTY Meals Team Corporation Profile

(Get Rating)

MTY Foodstuff Group Inc franchises and operates swift-support, rapid-casual, and relaxed dining dining places in Canada, the United States, and internationally. The business also sells retail goods less than a multitude of banners. As of November 30, 2021, the corporation experienced 6,719 destinations comprising 6,603 franchised, 23 joint ventures, and 93 corporate areas.

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July 7, 2022

Sri Lanka’s misery should be warning to us all on global food, fuel and finance crisis: UNDP |

“We’re witnessing a tragic series of events that are unfolding in Sri Lanka right now that should be a warning to anyone who thinks that, you know, it is up to countries themselves to figure out how to deal with this crisis,” said Achim Steiner, Administrator of the UN Development Programme (UNDP), in reference to the South Asian nation’s debt default last month – the first in its history.

“That default essentially means the country is no longer able to pay – or not only service – its debt, but actually to import fundamental parts of what keeps an economy alive, whether it is petrol or it is diesel, whether it is fuel, whether it is medicines,” Mr. Steiner added.

The warning came as new data from the UN Food and Agriculture Organization (FAO) indicated that the number of people affected by hunger globally rose to 828 million in 2021, an increase of about 46 million since 2020, and 150 million since the outbreak of coronavirus.

‘Shock after shock’

Speaking at a virtual briefing at UN Geneva to flag a series of policy recommendations that countries could follow to withstand the global food, fuel and finance crisis, UNDP Senior Economist George Gray Molina noted that many countries had faced 36 months of “shock after shock after shock”: first COVID-19, then Russia’s invasion of Ukraine on 24 February, the latter in particular shaking global food and energy supplies and sparking an inflationary surge.

“With COVID, what we saw is effects that worked through labour markets, lockdowns, and income, that was slowly cumulative but had a strong impact over time,” said Mr Molina. “Official estimates are about 125 million people falling into poverty over about 18 months…what we found right now is that three months of inflation have drawn about 71 million people into poverty.”

Failure to take decisive and radical action by governments risked sparking widespread unrest, UNDP chief Steiner suggested.

Pain on the streets

“Very quickly, we might see also with the troubling economic outlook a situation where for many countries the patience and the ability of people to cope with this reality runs out. And as I’ve often said, when politics moves out of our parliaments, out of government, onto the streets, we are in a fundamentally different situation. We are very vulnerable at this moment to see these kinds of developments happen in many more countries.”

Outlining some of the finance policy recommendations that are detailed in the new UNDP report – Tackling The Cost-Of-Living Crisis: Policy Responses to Mitigate Poverty and Vulnerability around the World – Mr. Steiner insisted that it might be possible for some countries to tackle runaway inflation without resorting to the “blunt instrument” of raising interest rates.

“There is potential through the multilateral investment banks for example by paying in more capital, to allow them to provide through targeted lending and crisis-response measures,” he said, adding that the International Monetary Fund (IMF) could also be involved in this process.

There were “ways and means by which countries can address more specifically their needs”, the UNDP Administrator continued, that did “not necessarily have to be in contradiction to the inflationary pressure measures” now being put in place by central banks.

‘Drastic’ speed

According to the UNDP report, the impact of the global food, fuel and finance crisis on global poverty has been “drastically faster” than the shock of the COVID-19 pandemic.

Analysis of 159 developing countries globally indicated that price spikes in key commodities were already having “immediate and devastating impacts on the poorest households.

Clear hotspots have emerged in the Balkans, the Caspian Sea region and Sub-Saharan Africa (in particular the Sahel region), according to UNDP.

Global Crisis Response Group

This report also zooms in on the insights provided by the two briefs of the UN Secretary-General’s Global Crisis Response Group on the ripple effects of the war in Ukraine.

Key to the global recovery will be the recognition that it is in everyone’s interest to help countries that are grappling with depleted fiscal reserves and high levels of sovereign debt, as well as rising interest rates on global financial markets, Mr. Steiner insisted.

“Unprecedented price surges mean that for many people across the world, the food that they could afford yesterday is no longer attainable today,” says UNDP Administrator, Achim Steiner. “This cost-of-living crisis is tipping millions of people into poverty and even starvation at breathtaking speed and with that, the threat of increased social unrest grows by the day.”

Among the UNDP report’s strongest takeaways is the warning that “entire developing countries” risk decoupling from the global economy permanently.

Internationally-agreed measures “can take the wind out of this vicious economic cycle” and save lives and livelihoods, insisted Mr. Steiner, whose agency also recommended “targeted cash transfers” as being more equitable and cost-effective than blanket energy subsidies, which “disproportionately benefit wealthier people”.

But seismic shifts in the international financial system will also be necessary to ensure that low and middle-income countries can recover, the UNDP Administrator suggested. “You also have to be smarter about it and the IMF originally put together some of the responses to COVID; most developing countries at the end of the day did not dare to borrow against those measures because immediately the rating agencies would downgrade them.”

June 2, 2022

Organic food sales growth rate slows to 2{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}

WASHINGTON — Organic meals income in the United States greater about 2{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} to $57.5 billion in 2021, in accordance to the Natural Trade Association’s sector survey launched Might 31. In general natural profits ended up around $63 billion many thanks to a 2{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} improve. Non-foods revenue jumped 7{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} to $6 billion.

The 2{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} improve when compared with a 12{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} enhance in 2021 when buyers loaded pantries for the duration of the COVID-19 pandemic Pantry-loading eased in 2021, which had a adverse outcome on organic and natural food stuff gross sales in the categories of packaged and geared up foods, frozen food, and canned food items. At $57.5 billion, US organic and natural food items product sales have extra than doubled from $25 billion in 2011.

“Like just about every other business, organic has been by lots of twists and turns over the past few decades, but the industry’s resilience and creativeness has retained us heading powerful,” mentioned Tom Chapman, main executive officer and executive director of the Washington-primarily based association. “In 2020, natural and organic considerably greater its market place foothold as Individuals took a nearer appear at the products and solutions in their house and gravitated toward healthier options.

“When pandemic getting habits and source shortages commenced to relieve in 2021, we noticed the strongest efficiency from classes that were ready to remain adaptable, even with the shifting landscape. That capability to adapt and stay responsive to consumer and producer requires is a critical portion of organic’s continued progress and achievement.”

Profits of organic and natural packaged and geared up foods declined about 5{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in 2021 due to shoppers shifting away from pantry-loading. Canned soups, nut butters and pasta sauces, which saw the most advancement spikes in 2020, expert the major decreases in 2021. One particular brilliant spot was organic and natural toddler meals with gross sales escalating more than 11{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} to $1.2 billion.

Natural bread and grain revenue reduced somewhat, finishing at $6.2 billion in 2021. Product sales of frozen and refreshing bread elevated 1.6{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. Sales declined in baking substances, pastas, rice and other dry grains. The war in Ukraine and other domestic and international challenges continue on to constrain source chains, according to the Natural Trade Affiliation.

Organic snacks and drinks fared properly in 2021. Just after snack sales contracted in 2020, they elevated 6{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in 2021 to $3.3 billion thanks in component to offices, gyms and colleges reopening. Natural gross sales of nutrition bars shot up 15{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in 2021 to go more than $1 billion in product sales. Natural beverage income greater 8{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in 2021. As buyers transitioned to hybrid and work-from-household styles, organic coffee sales amplified 5{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} to go about $2 billion.

Fruits and greens accounted for 15{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} of the full US natural product or service marketplace. Income in 2021 increased 4.5{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} to $21 billion. Fresh produce and dried beans, fruit and vegetables drove growth. Product sales of frozen and canned foodstuff declined as consumers diminished pantry-loading.

Organic meat gross sales improved 2.5{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} to practically $2 billion in 2021 regardless of source chain constraints and stricter regulations for elevating organic and natural poultry, livestock and seafood. Organic and natural poultry profits improved 4.7{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} to surpass $1 billion.

Organic dairy and egg product sales had been reasonably flat in 2021 when when compared with 2020 but ended up up virtually 11{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} when in contrast with 2019. A limited marketplace for natural feed and tough global provide chains contributed to increased selling prices and lower gross sales.

“Organic’s capability to retain the marketplace footholds received in the course of 2020 and proceed to mature even with unparalleled problems and uncertainty is a testomony to the energy of our sector and our solutions,” Mr. Chapman reported.

January 31, 2022

Finance, economy ministries warn major food companies against price hikes

Israel’s Ministries of Finance and Overall economy and Field sent warning letters on Sunday to the heads of key meals businesses and vendors in Israel, urging them to reverse their conclusions to raise costs on foodstuff products this year. The ministries cited citizens’ economic hardships brought on by the COVID-19 pandemic, as very well as the receiver companies’ multi-million-dollar money data or executive bonuses for 2021.

The ministries reported they predicted the food items vendors to “be responsible” and withdraw their announcements of cost hikes in a region with an currently significant price tag of living.

“We will proceed to monitor charges to the Israeli consumer, with the proper sense of countrywide responsibility, and in this context, we will not wait to consider the essential methods to protected a honest, competitive financial state,” study the letters, signed by Finance Minister Avigdor Liberman and Economy Minister Orna Barbivai.

“Your announcement[s] of value hikes at this time is cynical and offensive to the citizens of the region,” Liberman and Barbivai reported in a joint statement.

The missives have been despatched to seven foodstuff and cleaning materials vendors in Israel such as Strauss Group, Osem (owned by the Swiss corporation, Nestle), and Sano.

In the letter to Strauss Team President and CEO Giora Bardea, the ministers reported the organization — just one of Israel’s biggest food stuff conglomerates with dairy, salad, snacks, and dip products and solutions — registered file gains in 2021 and powerful margins in Israel, when compared to other countries that market its products and solutions.

“The firm compensated dividends in 2021 of an general NIS 270 million ($84 million), a report number…in the previous 10 years,” the ministers wrote, criticizing the company’s recent selling prices which they reported were “higher than the globe average.”

Persons store at a supermarket in Givat Shaul, Jerusalem, October 27, 2021 (Yonatan Sindel/Flash90)

In a letter to the CEO of the Israeli profits and distribution business Diplomat, which imports food and dwelling items from main manufacturers like Tide, Kellogg’s, Illy, Pampers, and Starkist, the ministers mentioned that the government been given a NIS 11.5 million ($3.61 million) reward in 2021.

The ministers wrote in all the letters that the powerful shekel merged with very low inflation and wage raises in 2021 “meant that merchandise and uncooked components brought by your company to Israeli have been cheaper for you, without you reducing your rates for the Israeli purchaser appropriately and [these prices] were amid the maximum in the environment for these goods.”

The letter explained that Israel’s economic climate was robust, but the worldwide wellness disaster was not over. “People and tiny companies did not recover from the corona[virus] disaster, and some of them had been harmed by the Omicron wave sweeping by way of the state proper now.”

Finance Minister Avigdor Liberman speaks in the course of a push meeting, presenting new reform on housing, at the Finance Ministry offices in Jerusalem, on October 31, 2021. (Yonatan Sindel/Flash90)

The Israeli governing administration, the ministries reported, was accomplishing “everything in its abilities to assist them triumph over this wave safely, but we need the cooperation of other ‘players’ in the marketplace also.”

Late last month, Osem drew a torrent of criticism and calls for a boycott right after it announced that it would be boosting the charges of its items future month. Osem stated that, commencing in February, it would increase the prices of its items by 3 to seven {21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}, owing to a increase in price ranges in essential elements.

Osem is one of the largest producers of goods in Israel, and sells pantry staples together with pasta, ketchup, cereals, crackers, and the preferred peanut snack Bamba.

In many supermarkets, activists have been witnessed placing stickers on Osem products and solutions, calling on shoppers to boycott the manufacturer, and various politicians also spoke out versus the go.

Individually, gas charges were being established to rise Monday night to concentrations not viewed for seven a long time, standing at NIS 6.71 for every liter of 95 octane petrol in self-provider, drawing extra outrage.

In early December, Liberman mentioned that bringing down the expense of living was the most challenging obstacle struggling with the federal government, which is also struggling to deliver down spiraling property price ranges.

“There will be a battle — that won’t be uncomplicated — on the problem of the charge of dwelling,” said the finance minister at a business convention, providing the cost of dairy solutions as an case in point. “With dairy products and solutions, we have reached an absurd problem that listed here in Israel they are 79{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} much more high-priced than in Europe. A kilogram of yogurt expenses NIS 17 in Israel and NIS 8.50 in Europe,” he reported.

The govt has considerable programs to reform the agricultural sector to enable the import of develop, like eggs and dairy products and solutions from overseas. The move is meant to improve levels of competition and make a broader range of solutions available to Israeli people.

Outrage above rates grew final month, following above a ten years since Israel very last saw common social unrest on the make a difference.

A price hike in cottage cheese, an Israeli staple, was the 1st spark that led to the 2011 “tent revolution,” which observed younger Israelis furious at sharp rises in rents and charge of living erect shelters on the upmarket Rothschild Boulevard in the coronary heart of Tel Aviv. Countless numbers of protesters before long took to the streets across Israel, shouting slogans demanding social justice. However, the movement eventually did very little to have an affect on mounting expenses.

December 12, 2021

Food is more expensive than it has been in decades

Restaurant prices spiked 5.8{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} over the 12 months ending in November without seasonal adjustments, the Bureau of Labor Statistics said Friday. That’s the largest 12-month increase since the year ended January 1982.

And unfortunately for those hoping to curb spending by turning to home cooking, grocery prices are also at record highs: They jumped 6.4{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}, the largest 12-month increase since December 2008. Beef had the most dramatic increase with a 20.9{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} spike in prices.

The sharp increases underscore the fact that restaurants and food makers are not immune to supply chain and labor pressures contributing to pricing increases across the board.

Yet they’ve found customers are willing to spend more. In fact, restaurants have been raising prices as their own food and labor costs rise, and so far, they say, consumers have accepted the hikes.

McDonald’s (MCD) said in October that it expects menu prices to be about 6{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} higher this year compared to last. The increase “has been pretty well received by customers,” CEO Chris Kempczinski said during an October analyst call. Chipotle also raised prices this year, yet it has seen its same-store restaurant sales grow.

Beyond restaurants, food manufacturers and grocers have faced higher costs for commodities, labor and transportation. Those costs have escalated further in recent months, leading manufacturers to pass some of them on to their retail customers — who in turn charge consumers a portion of those increases.

Higher prices at the grocery store will likely stick around into next year. Major manufacturers like Kraft Heinz (KHC) and Mondelez (MDLZ) have said that they plan to hike prices for their retail customers in early 2022.

That’s all allowed companies to pull back on or eliminate discounts, because demand is strong and they don’t want to run out of their limited supplies.

What got more expensive in November

While some food prices stayed flat or even fell from October to November, other items got more expensive in the period, according to the consumer price index.

Lettuce prices climbed 6.9{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} and fresh fruit went up 2.2{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} on a seasonally adjusted basis. Oranges, including tangerines, rose 2.4{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. At the opposite end of the spectrum, treats like fresh coffeecakes and donuts jumped 3.5{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in price.

Meat prices also continued to tick up: Pork prices grew 2.2{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}, with breakfast sausages up 2.7{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} and hot dogs 2.8{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}. Pork roasts, steaks and ribs rose 3.7{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}.

Some of these items could get even pricier. Hot dog, sausage and burger makers have warned retailers that they plan to increase prices for some frozen and refrigerated meats in January.

The hikes in food are part of a trend of increasing prices overall. Consumer price inflation, which includes gas prices and other categories, rose by 6.8{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in the 12-month period ending in November, hitting its highest level in 39 years.

— CNN Business’ Nathaniel Meyersohn and Anneken Tappe contributed to this report.