TOP STORIES

Shoppers Flock to Trader Joe's, Costco; Kroger Less So -- Market Talk

11:00 ET - Grocery shoppers ranked Trader Joe's, Costco and Amazon as their top three destinations for food shopping, according to an online survey of 11,000 U.S. households about 59 U.S. grocery retailers by market research firm dunnhumby. H-E-B and Wal-Mart rounded out the top five. Kroger and Target came in 18th and 20th, respectively. Price and quality were given the highest rankings among shoppers in choosing retailers. (heather.haddon@wsj.com, @heatherhaddon)

STORIES OF INTEREST

Canada Adviser Expects Trump to Pull Out of Nafta -- Market Talk

15:31 ET - A member of Canadian government's advisory panel on Nafta said it's just "a matter of when" President Trump opts to begin U.S. withdrawal from Nafta. "He sees triggering the six-month withdrawal process as the beginning of the negotiations," Rona Ambrose, former senior minister under Conservative PM Stephen Harper, said. In comments to Canada's CTV network, she said the consensus among members of the advisory panel -- made up of politicians from all parties, and business and labor leaders -- is not a matter of "if" Trump withdraws, but "when." She added in her view, U.S. officials are becoming "increasingly inflexible" in order to set the stage for a Nafta withdrawal. She said reports Canada is inflexible on issues related to progressive trade issues like labor and aboriginal rights are "not true." (paul.vieira@wsj.com; @paulvieira)

Dry Argentine Weather Supports Grain and Soybean Prices

Soybean and wheat futures started the week higher, while corn contracts inched lower.

Mounting concerns about dry growing conditions in Argentina and data showing that hedge funds were betting heavily on lower grain and soybean prices prompted some buying on Monday.

FUTURES MARKETS

Late-Week Cattle Trades Boost Futures

Cattle futures bounced after physical cattle prices rose late last week.

Meatpackers and feedyards spent much of last week in a deadlock over slaughter-ready cattle prices, leaving futures traders short of supply-and-demand signals to follow. Late on Friday, however, packers started to buy cattle for $123 per 100 pounds on a live basis and $195 on a dressed basis, several dollars higher than the previous week's average.

CASH MARKETS

 
Zumbrota, Minn Hog Steady $44.00 - Jan 22 
 
  Barrow and gilt prices at the Zumbrota, Minn., livestock market today 
are steady at $44.00 per hundredweight. 
 
Sow prices are steady to $1.00 higher. Sows weighing 400-450 pounds are at 
$36.00-$37.00, 450-500 pounds are $36.00-$37.00 and those over 500 pounds are 
$40.00-$42.00. 
 
The day's total run is estimated at 125 head. 
 
Prices are provided by the Central Livestock Association. 
 
Estimated U.S. Pork Packer Margin Index - Jan 22 
 
All figures are on a per-head basis. 
 
Date     Standard Margin       Estimated margin 
         Operating Index         at vertically - 
                             integrated operations 
                                      * 
Jan 22       +$19.29             +$ 44.52 
Jan 19       +$18.32             +$ 42.80 
Jan 18       +$18.25             +$ 41.72 
 
* 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  107.7 
      (Percent of Year-Ago)     Select  106.9 
 
USDA Boxed Beef, Pork Reports

Wholesale choice-grade beef prices Monday rose 21 cents per hundred pounds, to $205.07, according to the USDA. Select-grade prices fell 64 cents per hundred pounds, to $199.52. The total load count was 109. Wholesale pork prices rose 80 cents, to $81.11 a hundred pounds, based on Omaha, Neb., price quotes.

(END) Dow Jones Newswires

January 22, 2018 17:35 ET (22:35 GMT)

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