LIVESTOCK HIGHLIGHTS: Top Stories of the Day
January 19 2018 - 5:47PM
Dow Jones News
TOP STORIES
Faster Meat Plants Can Be Safer, USDA Says -- Market Talk
11:09 ET - Under nearly proposed USDA rules, hog slaughterhouses
would be able to process up to 1,295 hogs per hour, versus the
current limit of 1,106, but agency officials say the shift wouldn't
put meat plant workers at greater risk for cuts and injuries. In
its proposed rule, USDA says it compared injury rates from 2002 to
2010 at conventionally operated pork plants with those in a pilot
program allowed to run at the faster speed, and found that the
pilot-program plants had "lower mean injury rates," though the
agency acknowledges a higher rate of automation at the faster
plants. (jacob.bunge@wsj.com; @jacobbunge)
Critics See Food Safety Risk in USDA's Pork Rules -- Market
Talk
11:20 ET - Critics say pork chops, hams and bacon could come to
harbor more dangerous bacteria under the USDA's proposed change to
pork plant inspection rules. Washington-based Food and Water Watch
points to a 2013 Inspector General audit of the USDA's meat
inspection system, which found high rates of noncompliance records
among plants participating in a pilot program for the proposed new
rules, and blamed the USDA's "lack of oversight" in assessing
whether the pilot program had improved food safety. "It is
irresponsible for the USDA to expand a radical change to food
safety responsibility in the pork industry based on a pilot program
that clearly failed to show that allowing companies to inspect
themselves can produce safe food," says Wenonah Hauter, the group's
executive director. (jacob.bunge@wsj.com; @jacobbunge)
STORIES OF INTEREST
FDA Seeks to Improve Food Recall Process -- Market Talk
11:46 ET - A month after HHS' Office of Inspector General found
serious flaws in FDA's food-recall process, the agency is out with
guidance for the food industry on how better to ensure the safety
of the US food supply. FDA in a draft document outlined current
expectations for food companies handling recalls, and also new
steps its taking, like posting recalls to a weekly online report
earlier than in the past. To speed its public notification process,
FDA says it will post a recall before it's made a determination
over the seriousness of the health risk. In some cases, it also
will begin publishing the names of specific stores that sold food
that was eventually recalled, said FDA Commissioner Scott Gottlieb,
adding that further improvements to the agency's oversight of food
safety are forthcoming. (jesse.newman@wsj.com; @jessenewman13)
Corn, Soybean Futures Climb on Strong Exports
Corn and soybean futures rose Friday, boosted by
stronger-than-expected export sales.
The U.S. Department of Agriculture said Friday morning that
exporters sold 1.89 million metric tons of corn and 1.53 million
tons of soybeans in the week ended Jan. 11. Those were both above
the range of pre-report analyst estimates.
FUTURES MARKETS
Cattle and Hog Futures Fall
Cattle futures slid, ending a multiday winning streak as traders
waited for cash trades to guide the market.
Contracts for live cattle rose for five consecutive days, before
sliding on Friday. Futures traders had anticipated that the week's
cash, or physical cattle, trade would trend higher this week.
CASH MARKETS
Estimated U.S. Pork Packer Margin Index - Jan 19
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
integrated operations
*
Jan 19 +$18.32 +$ 42.80
Jan 18 +$18.25 +$ 41.72
Jan 17 +$16.04 +$ 41.23
* 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 106.9
(Percent of Year-Ago) Select 106.8
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Friday fell 83 cents per
hundred pounds, to $204.86, according to the USDA. Select-grade
prices fell 71 cents per hundred pounds, to $200.16. The total load
count was 105. Wholesale pork prices rose 50 cents, to $80.31 a
hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
January 19, 2018 17:32 ET (22:32 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.