LIVESTOCK HIGHLIGHTS: Top Stories of the Day
08 Dezember 2017 - 11:57PM
Dow Jones News
TOP STORIES
Grocers Say Tax Bill Unfair to Independent Operators -- Market
Talk
15:55 ET - The National Grocers Association is appealing to
Congress to do more to create an even playing field between the tax
bill's treatment of pass-through businesses and big corporations.
The membership organization of independent supermarkets, many
operating as pass-through entities, writes that the Senate bill has
improved the tax rates charged to the entities, but its sunset
provision creates too much uncertainty. The bill's language also
could prevent trusts and estates from being eligible for the
pass-through deduction, it writes. "NGA member companies are
American, family-owned companies that do not have the tax advantage
of offshore profit shifting," the organization writes in the letter
Friday. "It is critical that Congress ensure a level playing field
for all businesses involved." (heather.haddon@wsj.com;
@heatherhaddon)
STORIES OF INTEREST
Soybean Futures Turn Lower
Soybean futures ended the week lower, easing off overnight gains
to fall for a third-consecutive session.
Oilseed prices hit a multimonth high earlier this week on
concerns about excessively dry weather in Argentina, which could
cause problems for the country's corn and soybean crops. Given the
Argentine growing season was in its early stages, however, traders
judged that there was plenty of opportunity for improvement and
pulled back.
Strong Hiring Report Sends Dow, S&P to Record Highs --
Market Talk
16:07 ET - The Dow rises 0.5% to 24329, the S&P adds 0.6% to
2651 and the Nasdaq adds 0.4% to 6840 as the November jobs report
comes in stronger than expected and an agreement between the UK and
EU on Brexit terms sent world stocks higher earlier Friday. All
S&P sectors rise except materials, with Alexion Pharmaceuticals
at the top of the index with a 7.2% gain as Elliott Management says
it will push for changes at the company. UnitedHealth, up 1.7%, and
Boeing, 1.4% higher, give the Dow a boost. Oil prices rise 1.2% to
$57.36 as data shows an increase in Chinese crude imports.
(jonathan.vuocolo@wsj.com; @jonvuocolo)
FUTURES MARKETS
Cattle Futures Steady After Cash Weakness
Cattle futures ended the week steady to lower, stabilizing after
a week of selling.
December-dated live-cattle futures were little changed, at
$1.15575 a pound at the Chicago Mercantile Exchange, while February
contracts fell. Prices had previously fallen through the week.
CASH MARKETS
Estimated U.S. Pork Packer Margin Index - Dec 8
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
integrated operations
*
Dec 8 +$45.49 +$ 48.17
Dec 7 +$47.56 +$ 48.33
Dec 6 +$43.54 +$ 46.63
* 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 108.8
(Percent of Year-Ago) Select 108.3
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Friday rose 51 cents per
hundred pounds, to $205.59, according to the USDA. Select-grade
prices rose $2.14 per hundred pounds, to $185.97. The total load
count was 196. Wholesale-pork prices fell 7 cents, to $82.81 a
hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
December 08, 2017 17:42 ET (22:42 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
FTSE 100
Index Chart
Von Mär 2024 bis Apr 2024
FTSE 100
Index Chart
Von Apr 2023 bis Apr 2024