LIVESTOCK HIGHLIGHTS : Top Stories of the Day

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09/13/2017 | 09:38 pm


TOP STORIES



U.S. Soybean Crush Likely Fell in August, Analysts Say



Analysts expect a trade group to report a slowdown in U.S. soybean crushing in August from a month earlier.



The average estimate for soybean processing in August as reported by the National Oilseed Processors Association is 136 million bushels, according to a survey by The Wall Street Journal, down from 144.7 million bushels in July but above 131.8 million a year earlier. Estimates range from 133.1 million bushels to 138.7 million bushels.



Analysts also expect NOPA to report soyoil stocks in August of 1.407 billion pounds, down from 1.558 billion in July and 1.62 billion a year earlier.




STORIES OF INTEREST



Grain, Soybean Futures Climb After USDA Shock -- Market Talk



10:31 ET - Grain and soybean futures continue to recover from larger-than-expected harvest estimates from the USDA. Market participants are debating the consequences of the higher corn and soybean yield forecasts. Some analysts say the agency could adjust its estimates lower in its next October report, while others suggest it is unlikely to reverse course. "Bottom line, the crops are currently getting bigger, not smaller," says Karl Setzer of MaxYield Cooperative. "Even if this does not pressure the market, it will likely prevent a rally from taking place." CBOT most-active December corn futures rise 1.3% to $3.56 a bushel, while November soybeans rise 0.8% to $9.58. December wheat contracts climb 1.6% to $4.49 1/4. ([email protected]; @b_parkyn)




FUTURES MARKETS



Cattle Futures Rise to Multiweek High on Steady Cash Trade



Cattle futures rose to a four-week high, changing course as cash-market prices steadied.



Meatpackers paid $104.75 per 100 pounds live for one lot of cattle at Wednesday's morning online Fed Cattle Exchange auction. Only 128 cattle out of over 1,000 listed sold as feedlots held out for higher prices.




CASH MARKETS

Zumbrota, Minn Hog $1.00 Lower At $35.00 - Sep 13



Barrow and gilt prices at the Zumbrota, Minn., livestock market today are $1.00 lower at $35.00 per hundredweight.





Sow prices are steady. Sows weighing under 450 pounds are $30.00-$32.00, 400-450 pounds are at $30.00-$32.00, 450-500 pounds are $30.00-$32.00 and those over 500 pounds are $35.00-$37.00.





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 - Sep 13

All figures are on a per-head basis.

Date Standard Margin Estimated margin
Operating Index at vertically -
integrated operations
*
Sep 13 +$47.73 +$ 40.95
Sep 12 +$45.82 +$ 41.47
Sep 11 +$47.21 +$ 45.81

* 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.
This report compares the USDA's latest beef carcass composite
values as a percentage of their respective year-ago prices.

Beef
For Today Choice 101.5
(Percent of Year-Ago) Select 104.1



USDA Boxed Beef, Pork Reports





Wholesale choice-grade beef prices Wednesday fell 39 cents per hundred pounds, to $190.40, according to the USDA. Select-grade prices fell $2.17 per hundred pounds, to $188.69. The total load count was 157. Wholesale pork prices fell 24 cents to $79.45 a hundred pounds, based on Omaha, Neb., price quotes.





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