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Nestle Will Move Infant Nutrition Unit to Regionally Managed Business
ZURICH--Nestle SA (NESN.EB) said Wednesday that it will reorganize its infant-nutrition division as it moves to spur more rapid growth in a unit it has been identified as one of its priorities.
Infant nutrition will move from the global-nutrition division to a regionally managed business starting Jan. 1, Nestle said. A strategic business unit will be created to implement the company's nutrition strategy.
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Agricultural Commodities Could Miss out on Market Party if Chinese Economy Sags -- Market Talk
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1551 GMT - While most emerging markets and developed nations are undergoing synchronized global growth and edging toward central bank balance sheet tightening, one exception appears to be China, says Erik Norland, executive director and senior economist of CME Group. While nations had increased debt to stimulate major economies, "debt accumulation is no longer so positive and that [Chinese] debt has continued to soar," Mr. Norland said at the Global Grain conference in Geneva. With a GDP five-to-seven times the size of the other BRIC countries, a weakening Chinese economy would weigh on agricultural commodities demand, he adds. (firstname.lastname@example.org; @davidhodari)
La Nina Could Shock Volatility into Grains Prices -- Market Talk
1555 GMT - With core grains consumption only growing and prices becoming more and more inelastic, "it will take a weather event" to inject any volatility into prices, says Emily French, Managing Director at ConsiliAgra, at the Global Grain conference in Geneva. "Everyone's excited now that we have [weather system] La Nina. If it comes to fruition and we have a supply shock..." the price movement therein would still be small when compared with those seen in 2005 and 2006, she says. (email@example.com; @davidhodari)
Cattle Futures Turn Higher Despite Meatpackers Lowering Bids
Cattle futures rebounded Wednesday despite falling prices for physical cattle.
Meatpackers lowered their bids for slaughter-ready cattle in Tuesday's and Wednesday's cash markets. They paid between $119 and $119.25 per 100 pounds in the closely watched online Fed Cattle Exchange auction, down from $124 last week.
Hog futures were mixed.
The front-month December lean hog contract ended a streak of 10 consecutive days of losses by rising 1.9% to 61.125 cents a pound. Prices for later months mostly fell.
Zumbrota, Minn Hog Steady At $36.00 - Nov 15
Barrow and gilt prices at the Zumbrota, Minn., livestock market today are steady 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 15
All figures are on a per-head basis.
Date Standard Margin Estimated margin
Operating Index at vertically -
Nov 15 +$40.79 +$41.23
Nov 14 +$42.76 +$44.54
Nov 13 +$40.98 +$43.17
* 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.
This report compares the USDA's latest beef carcass composite
values as a percentage of their respective year-ago prices.
For Today Choice 114.3
(Percent of Year-Ago) Select 113.6
USDA Boxed Beef, Pork Reports
Wholesale choice-grade beef prices Wednesday fell 54 cents per hundred pounds, to $210.13, according to the USDA. Select-grade prices fell $2.88 per hundred pounds, to $190.61. The total load count was 138. Wholesale pork prices fell $1.54, to $79.58 a hundred pounds, based on Omaha, Neb., price quotes.
(END) Dow Jones Newswires
November 15, 2017 17:32 ET (22:32 GMT)