TOP STORIES

 
Hog Slaughter Projected 441,000; Cattle 114,000 - Dec 8 
                                 Today     Week Ago    Year Ago 
Hogs                            441,000     443,000     438,970 
Cattle                          114,000     115,000     113,133 
 
                                       Today 
                                  Hogs      Cattle 
Allendale Inc.                  443,000     113,000 
HedgersEdge/RJ O'Brien          439,000     115,000 
 
Note: Averages of the estimates are rounded to nearest 1,000 head. 
 

STORIES OF INTEREST

Soybeans Ease as Product Prices Lower -- Market Talk

9:28 ET - Soybean futures reverse some of this week's gains as improved weather forecasts globally and lower prices for products made from the crop weigh on the oilseed market. Fears are waning somewhat about dry conditions in Argentina, a major soybean producer expected to receive rainfall in 11-15 days that could relieve some dry soils. Prices for soybean meal and soyoil are also in the red, which is helping drag soybeans lower, too. Still, steady export demand limits the weakness while corn and wheat are mixed. CBOT January soybeans fall 1% to $10.39/bushel. (jesse.newman@wsj.com; @jessenewman13)

THE MARKETS

Cash Cattle Markets Quite on Pricing Standoff -- Market Talk

9:51 ET - Cash cattle markets quiet early, though cattlemen are looking to hold the line on pricing as showlists generally look higher, analysts say. About 4,00 animals changed hands Wednesday via an online auction, with cattle in Kansas, Texas and Colorado selling for $1.11 to $1.12 a pound live. Since then meatpackers and producers have gone back to standoff mode, with offers ranging from $1.09 to $1.11 in Nebraska to $1.10 to $1.11 in the south, but little business so far, and sluggish trade in the market for dressed cattle as well, and many lots left unsold after Wednesday's auction. That said, business is expected to pick up by week's end. (jacob.bunge@wsj.com; @jacobbunge)

Cash Hog Bids Continue to Climb as Supply Slips -- Market Talk

9:34 ET - Prices for hogs nose their way higher in cash markets, rising 50 cents to $2 higher as analysts say that robust demand from meatpackers has whittled down recent oversupplies. In some markets, supply is tightening up to the point that meat processors are bidding and competing for animals, analysts say. About 443K hogs are expected to be slaughtered Thursday and 249K this weekend as meatpackers push to process pork while margins are favorable. (jacob.bunge@wsj.com; @jacobbunge)

(END) Dow Jones Newswires

December 08, 2016 10:49 ET (15:49 GMT)

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