LIVESTOCK HIGHLIGHTS: Top Stories of the Day
August 14 2017 - 5:55PM
Dow Jones News
TOP STORIES
In the Land of Milk and Money, Dairy Boom Feeds Environmental
Fears
CHRISTCHURCH, New Zealand--This South Pacific country markets
itself to international tourists as "100% pure," but a rapid
expansion of its dairy industry is endangering its clean, green
image.
The shift threatens to pit the nation's No. 2 export, tourism,
against dairy, its No. 1.
"Agriculture is the major cause of issues we have with fresh
water," said John Quinn, chief freshwater scientist at the
country's National Institute of Water and Atmospheric Research.
"Dairying is part of that."
Dairy Auction Seen Underscoring Positive NZD Story -- Market
Talk
2050 GMT - The Kiwi is in a holding pattern nearer the bottom of
its 5-day range, but conversely near the top of the trend
down-channel. Should it indeed be in a downtrend? ANZ isn't
convinced given the USD's woes, but a spirited break through
resistance at 0.7250 would be a bearish sign, the firm says. "New
Zealand's story is pretty good, and we expect tomorrow's GDT
auction to underscore that, with prices up around 3%."
(ben.collins@wsj.com)
STORIES OF INTEREST
Eco Animal Health Receives Turkey Approval For Chicken
Treatment
LONDON-- ECO Animal Health Group PLC (EAH.LN) Monday said it has
received a marketing authorization from Turkey's Ministry of Food,
Agriculture and Livestock for the use of its Aivlosin granules in
chickens laying eggs for human consumption.
Soybeans Drop Lower; Wheat and Corn Bounce
Corn markets reversed course to end higher Monday after it
running out of sellers who pummeled corn prices following bearish
data last week from the USDA.
CBOT corn for September delivery rose 0.6% to end at $3.62 a
bushel on the ICE Futures U.S. exchange. September wheat was up
0.4% at $4.41 a bushel and August soybeans fell 1.1% to $9.25 a
bushel.
FUTURES MARKETS
Cattle Futures Fall On Prospect of Swelling Supplies; Lean Hogs
Slump
Live cattle futures fell Monday as traders anticipated swelling
future supplies of beef.
CME live cattle for August fell 0.8% to end at $1.10 a pound,
the sixth down day in seven sessions for the most active
contract.
"Somehow the market forgot that we had eight months of very
heavy placements and instead had been looking at short term issues
like the spring rally in cattle," said Rich Nelson, chief
strategist at brokerage Allendale Inc.
CASH MARKETS
Zumbrota, Minn Hog $1.00 Lower At $50.00 - Aug 14
Barrow and gilt prices at the Zumbrota, Minn., livestock market today
are $1.00 lower at $50.00 per hundredweight.
Sow prices are $3.00-$4.00 lower. Sows weighing under 450 pounds are
$60.00-$62.00, 400-450 pounds are at $60.00-$62.00, 450-500 pounds are
$60.00-$62.00 and those over 500 pounds are $64.00-$66.00.
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 - Aug 14
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
integrated operations
*
Aug 14 +$28.06 +$ 71.35
Aug 11 +$28.01 +$ 71.50
Aug 10 +$28.21 +$ 73.78
* 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 98.7
(Percent of Year-Ago) Select 101.9
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Monday fell 68 cents per
hundred pounds, to $198.92, according to the USDA. Select-grade
prices rose 32 cents per hundred pounds, to $196.44. The total load
count was 118. Wholesale pork prices fell 7 cents, to $93.59 a
hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
August 14, 2017 17:40 ET (21:40 GMT)
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