LIVESTOCK HIGHLIGHTS: Top Stories of the Day

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TOP STORIES

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Brazil's Federal Police Raids JBS's Offices -- Market Talk

10:51 ET - Brazil's Federal Police says it raided the offices of the group of embattled meatpacker JBS (JBSS3.BR) Friday as part of an investigation by the country's market regulator into possible insider trading, according to a statement. Brazil's market regulator CVM has been investigating suspicious trades made by the group before the revelation of a plea deal by its main shareholders involving prominent Brazilian politicians. JBS denies any irregularity in its financial operations. (luciana.magalhaes@wsj.com)

Cargill Offloads Power and Gas Units to Macquarie -- Market Talk

17:05 ET - After Macquarie Group (MQG.AU) took Cargill's petroleum-trading business off the agricultural conglomerate's hands in March, Macquarie is back with a deal to buy Cargill's power and gas businesses as well. The business expands Macquarie's reach in energy and commodities, where it finances deals for clients and provides trading services. For Cargill, it's another step in the Minnesota food conglomerate's years-long effort to trim away branches of its vast global empire and focus investment on its core agricultural business and food operations that hold higher profit margins; Cargill also suffered a power-trading loss in 2014 that dented quarterly profits. Terms of the deal weren't disclosed. (jacob.bunge@wsj.com; @jacobbunge)

STORIES OF INTEREST

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USDA Boosts Soybean Stock Forecasts, Wheat Production

CHICAGO--Grain and soybean futures were mixed in a choppy session on Friday as traders digested a government supply-and-demand report before refocusing on domestic weather threats.

The U.S. Department of Agriculture forecast on Friday increased loads of American soybeans sitting in domestic bins, as growing South American production limits farmers' ability to sell the surplus in the global export market.

FUTURES MARKETS

Cattle Futures Mixed; Hogs Higher on Weather Concerns

CHICAGO -- Cattle futures were mixed on Friday on light trading volume in the cash market.

Trade was thin in southern states, according to the U.S. Department of Agriculture, but packers bought some cattle in eastern Nebraska and Iowa for around $1.36 to $1.37 a pound live, and $2.18 to $2.20 a pound dressed.

CASH MARKETS

Estimated U.S. Pork Packer Margin Index - Jun 9

All figures are on a per-head basis.

Date Standard Margin Estimated margin

Operating Index at vertically -

integrated operations

*

Jun 9 +$25.33 +$ 67.65

Jun 8 +$24.73 +$ 67.16

Jun 7 +$21.80 +$ 63.48

* 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 111.6

(Percent of Year-Ago) Select 109.8

USDA Boxed Beef, Pork Reports

Wholesale choice-grade beef prices Friday rose 82 cents per hundred pounds, to $251.21, according to the USDA. Select-grade prices rose 28 cents per hundred pounds, to $220.29. The total load count was 116. Wholesale pork prices rose 23 cents, to $91.87 a hundred pounds, based on Omaha, Neb., price quotes.

(END) Dow Jones Newswires

June 09, 2017 17:31 ET (21:31 GMT)