LIVESTOCK HIGHLIGHTS: Top Stories of the Day

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TOP STORIES

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Sodexo Shares Fall on Disappointing Guidance -- Market Talk

0847 GMT - Sodexo's shares are down in early trading, despite its FY2017 results being in line with expectations. The French food service and facilities management company posted operating profit of EUR1.33 billion compared with Investec's estimate of EUR1.32 billion. Its organic growth of 1.9% was up on Berenberg's expectation of 1.5%, although the brokerage says that Ebit guidance of 6.5% flat on year is a "disappointment." On the other hand, Investec believes Sodexo is well positioned to continue taking global market share, and that the company's strong balance sheet means there is potential for further M&A. Sodexo trades at EUR100.70, down 4.9%. (anthony.shevlin@dowjones.com)

Just Eat-Hungryhouse Deal Reshaping U.K. Food Sector -- Market Talk

1345 GMT - Just Eat's acquisition of Hungryhouse demonstrates the seismic shift occurring in the U.K.'s food industry, Cavendish Corporate Finance's Jonathan Buxton says, adding that traditional restaurants face increasing pressure to compete with online delivery services. The Competition and Markets Authority approving the deal is advantageous for Just Eat, as the food-delivery company seeks to focus more on upmarket and chain restaurants, Mr. Buxton believes. For Cavendish, the transaction opens the door to further sector consolidation, as competition grows and businesses seek to expand their geographical reach and offerings. (adria.calatayudvaello@dowjones.com)

STORIES OF INTEREST

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Disappointing Exports Pressure Corn, Soybean Futures

Corn futures sank to new lows Thursday as underwhelming export sales pressured grain-and-oilseed prices.

The U.S. Department of Agriculture said that exporters sold 954,500 metric tons of corn in the week ended Nov. 9, along with 1.177 million tons of soybeans. Both were at the low end of the range of pre-report analyst estimates. Soybean oil sales of 2,700 tons fell well below expectations.

Grains Prices Stuck Low For Now -- Rabobank -- Market Talk

1547 GMT - Speaking at the Global Grain Conference in Geneva, Rabobank's head of agri commodities research Stefan Vogel tells the WSJ that grain prices look unlikely to shake off their current weakness. "If you look at the past ten months in 2017 we've seen every commodity price - except for spring wheat - declining in value," Mr. Vogel says. As for factors to potentially buoy prices, "I don't think there's a very strong opinion right now that will double prices quickly." However, he highlights weather as a potential risk factor. "The last big La Nina in 2012 saw the worst US droughts in a very long time. I'm not saying this is happening but it is a risk." Without weather problems market consensus is that prices don't have much further, he says. (david.hodari@wsj.com; @davidhodari)

FUTURES MARKETS

Cattle Futures Sink Ahead of Report

Cattle futures fell on Thursday, giving back the previous session's gains as traders looked ahead to a government supply report.

December live cattle futures fell 0.5% to $1.1955 a pound at the Chicago Mercantile Exchange. Prices have closed within a cent of $1.20 every session this week.

CASH MARKETS

Zumbrota, Minn Hog Steady At $36.00 - Nov 16

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 16

All figures are on a per-head basis.

Date Standard Margin Estimated margin

Operating Index at vertically -

integrated operations

*

Nov 16 +$42.83 +$ 41.62

Nov 15 +$40.79 +$ 41.23

Nov 14 +$42.76 +$ 44.54

* 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 114.8

(Percent of Year-Ago) Select 111.4

USDA Boxed Beef, Pork Reports

Wholesale choice-grade beef prices Thursday rose 11 cents per hundred pounds, to $210.24, according to the USDA. Select-grade prices fell $2.78 per hundred pounds, to $187.83. The total load count was 161. Wholesale pork prices rose 18 cents, to $79.76 a hundred pounds, based on Omaha, Neb., price quotes.

(END) Dow Jones Newswires

November 16, 2017 17:40 ET (22:40 GMT)