LIVESTOCK HIGHLIGHTS: Top Stories of the Day
October 15 2018 - 5:20PM
Dow Jones News
TOP STORIES
Canadian Firms Optimistic Even Before New Trade Deal: Survey
OTTAWA -- Businesses in Canada remained optimistic about their
near-term prospects during the weeks before a new trade deal
between Canada, the U.S. and Mexico was announced, a Bank of Canada
survey found.
The central bank's quarterly business outlook survey, released
Monday, found that overall business sentiment in Canada was down
slightly in August and September compared with the last survey,
which was conducted three months earlier. The results of the latest
survey indicate that business sentiment remained near record highs
despite the small decline, the Bank of Canada said.
STORIES OF INTEREST
Danone Set for 3Q Slowdown as China Baby Boom Wanes: Bernstein
-- Market Talk
0757 GMT - Danone releases its third-quarter sales on Oct. 17
and analysts at Bernstein expect a slowdown in growth as a result
of tough comparatives and the ongoing boycott in Morocco. The
brokerage says the slower birth rate in China will hit the
company's specialized nutrition business, while its essential dairy
and plant-based international business will suffer the effects of
the ongoing political boycott in Morocco. Management should
reiterate the full-year guidance, it adds. Danone trades 0.2% lower
at EUR63.75. (anthony.shevlin@dowjones.com; @anthony_shevlin)
Grain Futures End Higher as Traders Watch Weather Forecasts
Grain futures rose Monday as traders watch the forecasts for an
end to recent wet weather that has delayed harvest in the Midwest,
analysts say.
Soybean contracts for November delivery rose 2.8% to $8.91 1/2 a
bushel at the Chicago Board of Trade. December corn contracts rose
1.2% and December wheat contracts rose 1.5%.
FUTURES MARKETS
Livestock Futures End Higher -- Market Talk
15:05 ET - Hog futures finish higher as African swine fever
continues to spread in China. CME hog futures rise 3.2% to 56.750
cents a pound, and cattle futures rise 1.6%. Analysts say another
case of the swine disease has been reported in China, which many
believe could lead to increased foreign demand for US pork. Dennis
Smith of Archer Financial Services says analysts are likely to
"only hear a fraction of what's really happening over there with
this disease." Meanwhile, slaughter numbers have been lower than
projections, says Dan Basse of AgResource.
(francesca.fontana@wsj.com; @francescamarief)
CASH MARKETS
Zumbrota, Minn Hog Steady at $40.00 - Oct 15
Barrow and gilt prices at the Zumbrota, Minn., livestock market are
steady at $40.00 per hundredweight.
Sow prices are $3.00-$5.00 higher. Sows weighing 400-450 pounds are at
$31.00-$32.00, 450-500 pounds are $31.00-$32.00 and those over 500
pounds are at $33.00-$35.00.
The day's total run is estimated at 100 head.
Prices are provided by the Central Livestock Association.
Estimated U.S. Pork Packer Margin Index - Oct 15
Source: USDA, based on Wall Street Journal calculations
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
integrated operations
*
Oct 15 +$ 37.65 +$ 39.20
Oct 12 +$ 33.09 +$ 36.02
Oct 11 +$ 27.15 +$ 32.45
* 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 103.0
(Percent of Year-Ago) Select 100.7
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Monday rose $2.09 per hundred
pounds, to $204.80, according to the USDA. Select-grade prices fell
39 cents per hundred pounds, to $191.89. The total load count was
94. Wholesale pork prices rose $1.48, to $79.97 a hundred pounds,
based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
October 15, 2018 17:05 ET (21:05 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.