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)