LIVESTOCK HIGHLIGHTS: Top Stories of the Day

Features Dow Jones Newswires

TOP STORIES

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JBS Parent to Pay $3.2 Billion to Settle Corruption Probes in Brazil -- 3rd Update

SÃO PAULO -- The holding company of JBS SA, the world's largest meatpacker, has agreed to pay the record-setting penalty ever in exchange for leniency in sweeping investigations by Brazilian prosecutors.

J&F Investimentos, which controls JBS and a host of other Brazilian businesses, said it would pay 10.3 billion reais ($3.2 billion) over 25 years after admitting to paying roughly $150 million -- mostly in bribes -- to Brazilian politicians. Among other favors, the graft guaranteed JBS access to billions of dollars in financing that funded an acquisition spree in the U.S. and other countries, transforming the family-owned company into a global giant.

San Francisco Fed Sees Immigrant Farm Worker Shortage -- Market Talk

14:04 ET - The Fed's latest beige book report notes worker shortages "across a broadening range of occupations and regions." One point of interest from the San Francisco Fed: "Recent changes in immigration policy created substantial labor supply shortages for low-skilled workers in the agriculture sector; as a consequence, some growers discarded portions of their harvest." (Ben.Leubsdorf@wsj.com; @BenLeubsdorf)

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STORIES OF INTEREST

Aldi, Lidl Markets See Biggest Rise in UK Since January 2015

LONDON--German retailers Aldi and Lidl have experienced their biggest U.K. market share rise since January 2015 as more shoppers flock to their stores seeking lower prices for their groceries, a survey showed Wednesday.

Aldi's market share rose to 7.0% in the 12 weeks ended May 21, compared with 6.0% a year earlier, while Lidl's share rose to 5.0%, from 4.4% in the 12 weeks ended May 22, 2016, Kantar Worldpanel said. Kantar monitors the household grocery purchasing habits of 25,000 demographically representative households in the U.K.

McDonald's Delivery Soon Available in 3,500 US Restaurants -- Market Talk

1245 GMT - McDonald's (MCD) has nearly doubled the number of U.S. restaurants offering delivery to more than 2,000 since it announced earlier this month that it had expanded beyond its Florida pilot with UberEats. CEO Steve Easterbrook tells investors at a Bernstein investor conference that he expects delivery to be available in 3,500 U.S. restaurants by the end of June and to expand further as the UberEats delivery network grows. Easterbrook says 60% of MCD delivery orders are placed in the evening or late at night and that customers, on average, get their food delivered in less than 30 minutes from placing their order. (julie.jargon@wsj.com)

FUTURES MARKETS

Hog Futures Touch New Highs; Cattle Rise on Cash Strength

CHICAGO -- Hog futures jumped to new highs Wednesday as pork prices recovered from a post-Memorial Day slump.

Wholesale pork rose 0.84 cents to 90.37 cents a pound on Wednesday morning, while higher prices for hogs in Tuesday's cash trade helped push futures higher.

CME June live cattle futures rose 1.2% to $1.24425 a pound. August feeder cattle contracts gained 1.8% to $1.52575 a pound.

CASH MARKETS

Zumbrota, Minn Hog Steady At $46.00 - May 31

Barrow and gilt prices at the Zumbrota, Minn., livestock market today are steady at $46.00 per hundredweight.

Sow prices are steady. Sows weighing under 450 pounds are $40.00-$42.00,

400-450 pounds are at $40.00-$42.00, 450-500 pounds are $40.00-$42.00 and those over 500 pounds are $43.00-$44.00.

The day's total run is estimated at 250 head.

Prices are provided by the Central Livestock Association.

Estimated U.S. Pork Packer Margin Index - May 31

All figures are on a per-head basis.

Date Standard Margin Estimated margin

Operating Index at vertically -

integrated operations

*

May 31 +$28.12 +$63.25

May 30 +$30.90 +$62.62

May 26 +$34.46 +$63.03

* 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 110.6

(Percent of Year-Ago) Select 108.2

USDA Boxed Beef, Pork Reports

Wholesale choice-grade beef prices Wednesday rose 29 cents per hundred pounds, to $245.54, according to the USDA. Select-grade prices fell $1.27 per hundred pounds, to $218.18. The total load count was 175. Wholesale pork prices rose 29 cents, to $89.82 a hundred pounds, based on Omaha, Neb., price quotes.

(END) Dow Jones Newswires

May 31, 2017 17:31 ET (21:31 GMT)