TOP STORIES

E.Coli Outbreak Tied to Romaine Lettuce Grows -- Market Talk

15:28 ET - A nationwide E.coli outbreak linked to romaine lettuce is spreading, according to federal health officials. The CDC added 31 people to its count of those sickened by a virulent strain of E.coli, bringing the total to 84 people in 19 states. Fifty-four percent of ill people have been hospitalized, a higher rate than normal for E. coli O157:H7 infections, according to CDC, which says it's working to determine why the strain is leading to more severe illnesses. Nine people have developed a type of kidney failure. CDC's list of affected states now includes Colorado, Georgia and South Dakota, and the agency continues to recommend that consumers avoid all romaine lettuce grown in Yuma, Ariz. (jesse.newman@wsj.com; @jessenewman13)

STORIES OF INTEREST

Supervalu Up; Analysts Remain Cautious -- Market Talk

10:46 ET - Supervalu up by around 4% on news that the food retailer would sell eight distribution centers for $445M in net proceeds and shed more grocery stores as part of its shift to wholesale from supermarkets. But Telsey Advisory Group remains tepid, particularly in the Minnesota-based company reporting weak FY19 guidance for operating profits. "There are still several moving parts in the story," the firm writes. ( heather.haddon@wsj.com; @heatherhaddon)

Online Grocery Shift Mirrors Consumer Electronics Pattern -- Market Talk

12:28 ET - About 10% of US consumers now regularly buy groceries online, a slow but steady shift, according to NPD Group analysts. Online food shoppers continue to want to seek out groceries in stores as well, and NPD sees parallels in the electronic sector, "where consumers still want to see the item up close and personal." Food retailers need to offer both in-store and online options for customers, the firm finds. Kroger, Walmart and other major grocers are investing in both arenas given the increasing interest from consumers and competition from Amazon. (heather.haddon@wsj.com; @heatherhaddon)

Trump Faces Pressure to Choose Sides in Fight Between Corn Growers and Oil Refiners

President Donald Trump is caught between two powerful business constituents of the Republican Party as he faces growing pressure to resolve a dispute between the oil industry and the Farm Belt.

Oil refineries want out of a costly requirement to blend ethanol into the gasoline they produce. Corn growers say the requirement diversifies the U.S. fuel supply, and insist Mr. Trump fulfill promises to at least hold the ethanol mandate. Both sides have close ties to the GOP and the White House.

FUTURES MARKETS

Hog Futures Rise as Pork Prices Seen Strengthening; Cattle Gain

CHICAGO--Hog futures rebounded after several days of decline as traders sought signs of a seasonal rally. Cattle contracts also climbed.

June-dated lean hog futures settled 0.7% higher at 75.35 cents on the Chicago Mercantile Exchange Wednesday, after wholesale pork prices gained. May hog contracts, which traded less heavily, settled 1.6% higher.

June-dated live cattle futures settled 0.5% higher at $1.0557.

CASH MARKETS

 
Zumbrota, Minn Hog $2.00 Higher At $37.00 - Apr 25

Barrow and gilt prices at the Zumbrota, Minn., livestock market are $2.00 higher at $37.00 per hundredweight.

Sow prices are steady. Sows weighing 400-450 pounds are at $35.00-$37.00, 450-500 pounds are $35.00-$37.00 and those over 500 pounds are $39.00-$41.00.

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 - Apr 25 
 
All figures are on a per-head basis. 
 
Date     Standard Margin       Estimated margin 
         Operating Index         at vertically - 
                             integrated operations 
                                      * 
Apr 25       +$14.62              +$15.75 
Apr 24       +$14.08              +$14.72 
Apr 23       +$14.71              +$14.12 
 
* 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   99.7 
      (Percent of Year-Ago)     Select   98.8 
 
USDA Boxed Beef, Pork Reports

Wholesale choice-grade beef prices Wednesday rose 88 cents per hundred pounds, to $218.53, according to the USDA. Select-grade prices rose $1.04 per hundred pounds, to $203.15. The total load count was 142. Wholesale pork prices rose 48 cents, to $67.73 a hundred pounds, based on Omaha, Neb., price quotes.

(END) Dow Jones Newswires

April 25, 2018 17:51 ET (21:51 GMT)

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