TOP STORIES

Higher Prices for Burgers Help McDonald's Sales -- Update

McDonald's Corp. is still struggling to attract more U.S. customers but it eked out higher sales this quarter by charging more for its food.

The company has been trying to revive traffic growth in the U.S. by upgrading restaurants, serving burgers made with fresh rather than frozen beef and offering drinks for a dollar. The chain also has been trying to make its food healthier by removing preservatives from its burgers.

Salmonella Outbreak Linked to JBS' Ground Beef Grows -- Market Talk

15:55 ET - A nationwide salmonella outbreak tied to ground beef has more than doubled in size, according to the CDC. Health officials say 120 people in 22 states have now been infected with salmonella linked to beef produced by meat-packing giant JBS SA, more than twice the number of people sickened when the CDC announced the outbreak earlier this month. JBS has recalled more than 6.5M pounds of ground beef after potentially contaminated products were shipped to stores across the country including Sprouts, Walmart, Sam's Club and Piggly Wiggly. (jesse.newman@wsj.com; @jessenewman13)

STORIES OF INTEREST

Grain Markets Post Small Gains, Losses Awaiting Drivers

Grain markets are treading water as the U.S. harvest progresses and trade uncertainty between the U.S. and China keep traders from placing large directional bets.

"There are so many variables that I'm not sure people know what to do," said Vance Hahn, a broker at Summit Commodity Brokerage.

Bayer Shares Fall as Reduction in Roundup Damages Disappoints

Shares in Bayer AG (BAYN.XE) slumped Tuesday after a California judge reduced by less than expected the damages it must pay in its Roundup weedkiller case, and upheld that the company's glyphosate-based products probably contributed to groundskeeper Dewayne Johnson developing cancer.

San Francisco Superior Court Judge Suzanne Ramos Bolanos ruled that the company acted with malice and denied its petition for a retrial.

FUTURES MARKETS

Hog Futures Rally While Cattle Falls -- Market Talk

15:25 ET - CME hog futures end higher, gaining 2.5% while cattle futures drop 0.8%. Some analysts say reports of new cases of African swine fever in China could bring some foreign pork demand to the US, supporting hog futures. Meanwhile, this month's cold storage report showed frozen pork stocks largely lower than a year ago, despite record production and tariffs placed on US pork by China and Mexico, says Dennis Smith of Archer Financial Services. (francesca.fontana@wsj.com; @francescamarief)

CASH MARKETS

 
Zumbrota, Minn Hog $1.00 Lower at $37.00 - Oct 23 
 

Barrow and gilt prices at the Zumbrota, Minn., livestock market are $1.00 lower at $37.00 per hundredweight. Sow prices are steady. Sows weighing 400-450 pounds are at $35.00-$37.00, 450-500 pounds are $35.00-$37.00 and those over 500 pounds are at $39.00-$41.00.

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 
 

The data for this report is unavailable from the source.

 
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  105.1 
      (Percent of Year-Ago)     Select  102.2 
 
USDA Boxed Beef, Pork Reports 

Wholesale choice-grade beef prices Tuesday rose $1.00 per hundred pounds, to $210.28, according to the USDA. Select-grade prices fell 80 cents per hundred pounds, to $196.86. The total load count was 111. Wholesale pork prices fell $1.05, to $76.00 a hundred pounds, based on Omaha, Neb., price quotes.

(END) Dow Jones Newswires

October 23, 2018 18:05 ET (22:05 GMT)