TOP STORIES

 
Hog Slaughter Projected 439,000; Cattle 114,000 - Jan 23 
                                 Today     Week Ago    Year Ago 
Hogs                            439,000     Holiday     430,199 
Cattle                          114,000     Holiday     110,860 
 
                                       Today 
                                  Hogs      Cattle 
Allendale Inc.                  438,000     113,000 
HedgersEdge/RJ O'Brien          440,000     114,000 
 
Note: Averages of the estimates are rounded to nearest 1,000 head.

STORIES OF INTEREST

Soybeans Fall on Improving Argentina Weather; Corn Slips -- Market Talk

9:27 ET - Concerns are easing that adverse weather in Argentina will dent large swaths of that nation's soybean crop, pressuring prices for the oilseeds. Soybean futures are continuing their descent after notching a 6-month high last week, as forecasts for 7 days of dry weather temper speculation that earlier rain and flooding could slash production in that country, in turn lifting US export demand. Corn prices also pull back after posting more than 6-month high on Friday. CBOT March soybeans fall 0.5% to $10.61 3/4/bu while March corn dips 0.3% to $3.68 3/4 and wheat is mixed. (jesse.newman@wsj.com; @jessenewman13)

THE MARKETS

US Cattle Futures Up After Cash Market Gains -- Market Talk

10:37 ET - Bids for hogs in the US cash markets are steady with Friday's sales to 50 cents per hundred pounds lower on Monday, as pork production picks up. Meatpacking plants produced around 492 million pounds of pork last week, the same volume as this time in 2016, and analysts expect US output to continue to climb. In the cattle markets, supplies have shrunk this month compared with earlier in the winter, pushing prices to as high as $1.22 1/2 a pound live in the cash markets last week. CME February live-cattle futures climb 0.175 cent to $1.20425/lb, while hogs slip 0.5% to 64.975c/lb. (kelsey.gee@wsj.com; @kelseykgee)

(END) Dow Jones Newswires

January 23, 2017 11:16 ET (16:16 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.