LIVESTOCK HIGHLIGHTS: Top Stories of the Day

Features Dow Jones Newswires

TOP STORIES

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Tyson Wants to Use Beef to Fatten Up Poultry Business -- Update

Strong domestic and foreign demand for beef drove revenue and profit growth at Tyson Foods Inc.

Tyson, the largest U.S. meat company by sales, said the pork market also helped results as a price increase offset a volume decline in the company's fourth quarter.

Roark Capital Makes Offer to Buy Buffalo Wild Wings

Buffalo Wing Wings Inc. has received a takeover bid valued at more than $2.3 billion from private-equity firm Roark Capital Group, according to people familiar with the matter.

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Roark made an offer of more than $150 a share in recent weeks, one of the people said. Buffalo Wild Wings shares traded late Monday at $117.30, giving it a market value of $1.84 billion.

Tyson Sheltered from Turkey-Meat Flood -- Market Talk

11:46 ET - Some of the top US turkey processors, like Hormel Foods and Cargill, have grappled with a glut of turkeys flocking to market and pushing down per-pound prices for meat. Tyson Foods, though ranked as the fifth largest US turkey supplier, is relatively protected, says CEO Tom Hayes. He says all the turkey Tyson raises is processed internally into products like Jimmy Dean breakfast sausages and Hillshire Farms lunch meat, and the company competes less on lower-margin products like whole turkeys that have seen price pressure. Turkey numbers have swelled as US farmers rebuilt their flocks following a 2015 outbreak of avian influenza, which hit many Midwest turkey farms. (Jacob.bunge@wsj.com ; @jacobbunge)

STORIES OF INTEREST

Rising Food Costs, Price Competition Hammers Spartan -- Market Talk

10:52 ET - SpartanNash is down by nearly half so far this year to $19.81 as the food distributor sees increasing competition from deep discounter Aldi and a revitalized Wal-Mart. Comparable store sales dropped 2.5% during 3Q. The Michigan-based food seller was also hurt by rising inflation in food prices that the distributor couldn't pass along given the competition. "We remain concerned that marked improvement is not in the cards for the foreseeable future given today's increasingly competitive backdrop," writes Jefferies. (heather.haddon@wsj.com, @heatherhaddon)

Tyson's Wage Increases Ease Turnover -- Market Talk

9:26 ET - Tyson's move to increase wages in an effort to keep and attract works to staff its plants has been paying off in the form of reduced turnover, the company says in a call with analysts. Amid robust pork demand, new slaughterhouses from rival meatpackers and farmers has lead to increased competition for workers in recent quarters. In response, the company has increased wages and refocused on safety and staffing. Still, the company has said it's also considering using robots that can visually sort, weigh and load products. (austen.hufford@wsj.com; @austenhufford)

FUTURES MARKETS

Hog, Cattle Futures Mixed After Week of Losses

Livestock futures traded sideways on Monday.

Prices for hogs and cattle fell last week as traders faced a plentiful supply outlook in the coming months. But futures markets were mixed on Monday, steadying as bargain-hunting traders took advantage of discounted prices.

December lean hog futures at the Chicago Mercantile Exchange fell 0.3% to 62.3 cents a pound, while contracts for later months rose.

CASH MARKETS

Zumbrota, Minn Hog $1.00 Lower At $37.00 - Nov 13

Barrow and gilt prices at the Zumbrota, Minn., livestock market today

are $1.00 lower at $37.00 per hundredweight.

Sow prices are $5.00 higher. Sows weighing under 450 pounds are $36.00-$38.00,

400-450 pounds are at $36.00-$38.00, 450-500 pounds are $36.00-$38.00 and

those over 500 pounds are $41.00-$43.00.

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 - Nov 13

All figures are on a per-head basis.

Date Standard Margin Estimated margin

Operating Index at vertically -

integrated operations

*

Nov 13 +$40.98 +$ 43.17

Nov 10 +$39.95 +$ 44.24

Nov 9 +$39.56 +$ 43.90

* 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 114.7

(Percent of Year-Ago) Select 114.9

USDA Boxed Beef, Pork Reports

Wholesale choice-grade beef prices Monday fell $1.04 per hundred pounds, to $212.81, according to the USDA. Select-grade prices fell 68 cents per hundred pounds, to $193.93. The total load count was 103. Wholesale pork prices fell 50 cents, to $80.48 a hundred pounds, based on Omaha, Neb., price quotes.

(END) Dow Jones Newswires

November 13, 2017 17:27 ET (22:27 GMT)