LIVESTOCK HIGHLIGHTS: Top Stories of the Day
January 18 2017 - 10:57AM
Dow Jones News
TOP STORIES
Hog Slaughter Projected 440,000; Cattle 113,000 - Jan 18
Today Week Ago Year Ago
Hogs 440,000 441,000 430,213
Cattle 113,000 115,000 111,511
Today
Hogs Cattle
Allendale Inc. 440,000 110,000
HedgersEdge/RJ O'Brien 440,000 116,000
Note: Averages of the estimates are rounded to nearest 1,000 head.
STORIES OF INTEREST
Corn, Soybeans Retreat After Rally -- Market Talk
9:14 ET - Corn and soybean futures ease as the US dollar firms
and traders book profits after prices notched multimonth highs in
the previous session. Crop prices shot to 6-month highs yesterday
thanks to wet weather in Argentina, which is threatening to curb
output there, potentially increasing demand for US supplies. The
rally falters in early deals, however, with adverse conditions
largely figured into crop prices in the short term and
profit-taking weighing on corn and soybean markets after three
straight days of gains. CBOT January soybeans slide 0.5% to $10.64
1/4/bu while March corn dips 0.3% to $3.64 1/2 and wheat is mixed.
(jesse.newman@wsj.com; @jessenewman13)
THE MARKETS
US Cattle Traders Await News of Cash Trade -- Market Talk
10:11 ET - US cattle traders are closely watching how
meatpackers and feedyards negotiate for livestock in the cash
markets, after producers eked out narrow gains last week. Beef
processors paid $1.19/lb live on average in the most recent sales,
which will serve as a benchmark for sellers on the Fed Cattle
Exchange auction at 11am ET. In the hog markets, an estimated 2.347
million pigs will be processed through Saturday, including 280,000
head this weekend, as plants make up for lost production due to ice
storms Sunday and Monday. CME February live-cattle futures rise 0.3
cent to $1.19875/lb. (kelsey.gee@wsj.com; @kelseykgee)
(END) Dow Jones Newswires
January 18, 2017 10:42 ET (15:42 GMT)
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