STORIES OF INTEREST

Wheat Futures Fall to 2017 Low on Oversupply Concerns

Wheat futures tumbled to the lowest point this year as oversupply continues to erode prices.

Enormous global grain supplies and the competitiveness of global exporters such as Russia have left traders increasingly pessimistic on the direction of U.S. wheat prices.

Tech and Energy Charge Up U.S. Stocks -- Market Talk

16:06 ET - Shrugging off a botched suicide bombing near New York's Port Authority station, the Dow rises 0.2% to 24386 and the S&P gains 0.3% to 2659, sending the indexes further into record territory, and the Nasdaq adds 0.5% to 6875. Technology and energy shares lead the S&P higher, with Chesapeake Energy and Symantec more than 4% higher. Oil prices rise 1.1% to $57.99. Investors await the Fed's last policy meeting of the year Wednesday. (jonathan.vuocolo@wsj.com; @jonvuocolo)

FUTURES MARKETS

Weak Cash Markets Pressure Livestock Futures

Livestock futures fell on lingering weakness in cash markets.

December lean hog contracts slid 0.1% to 63.6 a pound at the Chicago Mercantile Exchange, with the more-active February hog contract falling 2.7%.

CASH MARKETS

 
Zumbrota, Minn., Hog Steady At $36.00 - Dec 11 
 
  Barrow and gilt prices at the Zumbrota, Minn., livestock market today 
are steady at $36.00 per hundredweight. 
 
Sow prices for sows weighing 400-500 pounds are $4.00-$5.00 lower. 
Sow prices for sows weighing over 500 pounds are $3.00 lower. Sows weighing 
400-450 pounds are at $28.00-$30.00, 450-500 pounds are $28.00-$30.00 and 
those over 500 pounds are $32.00-$34.00. 
 
The day's total run is estimated at 100 head. 
 
Prices are provided by the Central Livestock Association. 
 
Estimated U.S. Pork Packer Margin Index - Dec 11 
 
All figures are on a per-head basis. 
 
Date     Standard Margin       Estimated margin 
         Operating Index         at vertically - 
                             integrated operations 
                                      * 
Dec 11       +$42.01             +$ 43.96 
Dec  8       +$45.49             +$ 48.17 
Dec  7       +$47.56             +$ 48.33 
 
* Based on Iowa State University's latest estimated cost of production. 
A positive number indicates a processing margin above the cost of 
production of the animals. 
 
Beef-O-Meter 
This report compares the USDA's latest beef carcass composite 
values as a percentage of their respective year-ago prices. 
 
                                 Beef 
          For Today             Choice  108.5 
      (Percent of Year-Ago)     Select  108.3 
 
USDA Boxed Beef, Pork Reports

Wholesale choice-grade beef prices Monday fell 6 cents per hundred pounds, to $205.53, according to the USDA. Select-grade prices fell 31 cents per hundred pounds, to $185.66. The total load count was 107. Wholesale pork prices fell $1.96, to $80.85 a hundred pounds, based on Omaha, Neb., price quotes.

(END) Dow Jones Newswires

December 11, 2017 17:44 ET (22:44 GMT)

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