LIVESTOCK HIGHLIGHTS: Top Stories of the Day
30 September 2016 - 1:01AM
Dow Jones News
TOP STORIES
Hog Slaughter Projected 440,000; Cattle 114,000 - Sep 29
Today Week Ago Year Ago
Hogs 440,000 438,000 433,466
Cattle 114,000 113,000 112,991
Today
Hogs Cattle
Allendale Inc. 440,000 113,000
HedgersEdge/RJ O'Brien 439,000 114,000
Note: Averages of the estimates are rounded to nearest 1,000 head.
STORIES OF INTEREST
Corn, Soybeans Rebound Ahead of USDA Report -- Market Talk
9:28 ET - Corn and soybean futures recover from Wednesday's
losses as grain traders await a quarterly report from the
government on crop inventories as of Sept. 1. Analysts widely
expect the USDA on Friday to report grain stockpiles at the
beginning of the month grew from year-ago levels thanks to bumper
harvests last year. Still, investor short covering, strong export
demand for soybeans and variable corn yields are supporting prices
for the crops. CBOT November soybeans rise 0.9% to $9.54 a bushel
while December corn gains 0.8% to $3.32. Wheat also adds 0.6% to
$4.05 1/2. (jesse.newman@wsj.com; @jessenewman13)
THE MARKETS
US Cash Livestock Prices Slip, Widening Margins -- Market
Talk
10:16 ET - Cash hog prices continue to slip as estimates for
this week's pork production soar to 2.43 million hogs, over 7%
above the same time last year. Beef production is also expected to
climb this week, and so far cash cattle traders have fetched from
$1.03 to $1.04 a pound live, though producers in Nebraska and Iowa
are now seeking more money for their animals. The livestock market
dip has widened margins for processors, most recently projected to
have stretched to $124.75 per head of cattle and $48.44 for hogs.
(kelsey.gee@wsj.com; @kelseykgee)
(END) Dow Jones Newswires
September 29, 2016 10:46 ET (14:46 GMT)
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