LIVESTOCK HIGHLIGHTS: Top Stories of the Day
March 19 2018 - 5:40PM
Dow Jones News
TOP STORIES
ADM Restructures to Spotlight Growth Businesses -- Market
Talk
12:56 ET - Archer Daniels Midland realigns its business units to
help build focus on the agricultural giant's effort to build a
higher-profit business, beyond trading and processing farm
commodities like soybeans and high-fructose corn syrup. ADM revamps
its corn processing unit, now called "Carbohydrate Solutions,"
which will also include its milling business. That move shrinks
ADM's agricultural services division, now called "Origination,"
following years of pressure from back-to-back big harvests. The
flavorings business that ADM has sought to build through
acquisitions will now be called "Nutrition," adding in ADM's animal
feed and enzymes divisions. "Oilseeds" remains the same. ADM shares
down 0.3%, versus a 1.7% decline in the S&P 500.
(jacob.bunge@wsj.com; @jacobbunge)
STORIES OF INTEREST
Grubhub Expands Pact With Yelp, Aiming for Cheaper
Deliveries
Grubhub Inc. and its rivals say they need to get bigger to cut
delivery fees that are sometimes higher than the price of a burger
and fries.
That is partly the goal of the expanded partnership that Grubhub
and Yelp Inc. plan to announce on Monday, which will double to more
than 80,000 the number of U.S. restaurants on the review website
and app that offer Grubhub delivery.
Grubhub is racing DoorDash, UberEats and many regional startups
to be the dominant delivery business for Americans who are eating
more meals at their homes and offices. Grubhub and rival Seamless
merged in 2013.
Trade Associations to Petition Trump Administration to Halt
China-Tariff Plans
WASHINGTON -- Forty-five trade associations, representing a wide
swath of the U.S. economy, are petitioning the Trump administration
to halt plans to levy tariffs on China and to work instead with
other nations to press Beijing to end restrictions on foreign
firms.
Imposing heavy tariffs, said a letter by the trade groups,
"would trigger a chain reaction of negative consequences for the
U.S. economy, provoking retaliation; stifling U.S. agriculture,
goods, and services exports; and raising costs for businesses and
consumers."
FUTURES MARKETS
Livestock Futures Start Week Lower
Livestock futures fell as supply pressures weighed down both
cattle and hog markets.
Cattle futures for April delivery fell 0.9% to $1.20225 a pound
at the Chicago Mercantile Exchange. April lean hog contracts slid
3.5% to 63.15 cents a pound.
CASH MARKETS
Zumbrota, Minn Hog $3.00 Lower At $36.00 - Mar 19
Barrow and gilt prices at the Zumbrota, Minn., livestock market are
$3.00 lower at $36.00 per hundredweight.
Sow prices are $2.00 lower. Sows weighing 400-450 pounds are at
$34.00-$36.00, 450-500 pounds are $34.00-$36.00 and those over 500 pounds
are $38.00-$40.00.
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 - Mar 19
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
integrated operations
*
Mar 19 +$27.28 +$ 24.09
Mar 16 +$26.94 +$ 25.02
Mar 15 +$22.47 +$ 25.81
* 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.
Beef
For Today Choice 100.5
(Percent of Year-Ago) Select 101.6
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Monday fell 72 cents per
hundred pounds, to $224.87, according to the USDA. Select-grade
prices rose 43 cents per hundred pounds, to $217.29. The total load
count was 78. Wholesale pork prices fell 43 cents, to $71.61 a
hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
March 19, 2018 17:25 ET (21:25 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.