LIVESTOCK HIGHLIGHTS: Top Stories of the Day

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Brazil's JBS Expects to Finish Asset Sale Program by Year-End

SAO PAULO -- Troubled Brazilian meatpacking giant JBS SA said Tuesday it expects to wrap up its asset-sale plan by the end of the year, and might not need to further renegotiate bank loans.

"We're in talks with various potential buyers and expect to announce something by the end of the year," Andre Nogueira, chief executive of JBS USA, said. The company said it doesn't have plans to sell more assets and that it is now focusing on further reducing debt.

Hogs Stampede to Market, Threatening Tyson's Pork Profits -- Market Talk

11:00 ET - The biggest risk facing Tyson Foods' profits next year may go oink. Pork processing profit margins are under threat as a parade of new slaughterhouses open up, boasting some of the US meat industry's highest capacities for turning hogs into bacon and sausage, and analysts at JPMorgan say the tougher competition already is showing up in Tyson's own pork business. Tyson, which gets 12% of its sales from pork, said Monday that a 11% increase in pork prices has so far helped offset growing supplies, while demand has been strong. JPMorgan, looking out over the coming year as newly built plants ramp up and at least one more opens for business, says "we are less confident about pork margins than we were a quarter ago." Tyson Foods up 1% after settling 2% higher Monday. (jacob.bunge@wsj.com; @jacobbunge)

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STORIES OF INTEREST

Corn Futures Fall to 10-Week Low

Corn futures sank to the lowest close since August as traders soured on the grain.

Analysts said there were few developments in the corn market, but a backdrop of oversupply weighed down prices. The U.S. Department of Agriculture said last week that this year's U.S. corn harvest would produce more grain than previously expected. The recent pace of exports, meanwhile, has underwhelmed market observers.

Barley, Soybeans to Help Drive Russian Agricultural Growth -- Market Talk

1549 GMT - The world's insatiable appetite for meat has driven up animal feed barley prices so much that the grain may soon push corn and some wheat out of already-inundated Black Sea ports in Russia, says Andrey Sizov Jr. managing director at SovEcon at the Global Grain conference in Geneva. Looking further ahead, he says, "Russia's far east may become a huge exporter of corn and soybeans to far-east Asia." Chinese soybean imports have recently provided some support to prices despite heavy global supply out of the U.S. and South America among other places. (david.hodari@wsj.com; @davidhodari)

South, Central Drought to Drag Down Ukrainian Wheat Production -- Market Talk

1222 GMT - With its Black Sea neighbor Russia set to break record wheat yields for the second time in two years, Ukraine may not follow suit, says Simon Cherniavsky, CEO of Mriya Agro Holding, at the Global Grain conference in Geneva. "Central and south Ukraine have seen worse conditions this year, with droughts," says Mr. Cherniavsky, adding that while conditions were better in the west of the country, he still expects a wheat-yield fall of 10% on year. He does, however, expect Ukrainian corn yields to rise. (david.hodari@wsj.com; @davidhodari)

FUTURES MARKETS

Hog Futures Tumble to Month-Low

Hog futures fell over 3% as hedge funds got out of long positions in the market.

Lean hog contracts for December at the Chicago Mercantile Exchange fell 3.7% to 59.975 cents a pound on Tuesday, the 10th-consecutive day of losses and lowest close since Oct. 9.

CASH MARKETS

Zumbrota, Minn Hog $1.00 Lower At $36.00 - Nov 14

Barrow and gilt prices at the Zumbrota, Minn., livestock market today are $1.00 lower at $36.00 per hundredweight. Sow prices are steady. 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 14

This report reflects U.S. pork packer processing margins. The margin indices

are calculated using current cash hog or carcass values and wholesale pork

cutout values and may not reflect actual margins at the plants. These

estimates reflect the general health of the industry and are not meant to

be indicative of any particular company or plant.

Source: USDA, based on Wall Street Journal calculations

All figures are on a per-head basis.

Date Standard Margin Estimated margin

Operating Index at vertically -

integrated operations

*

Nov 14 +$42.76 +$ 44.54

Nov 13 +$40.98 +$ 43.17

Nov 10 +$39.95 +$ 44.24

* 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 114.1

(Percent of Year-Ago) Select 115.4

USDA Boxed Beef, Pork Reports

Wholesale choice-grade beef prices Tuesday fell $2.14 per hundred pounds, to $210.67, according to the USDA. Select-grade prices fell 34 cents per hundred pounds, to $193.49. The total load count was 124. Wholesale pork prices rose 64 cents, to $81.12 a hundred pounds, based on Omaha, Neb., price quotes.

(END) Dow Jones Newswires

November 14, 2017 17:31 ET (22:31 GMT)