GRAIN HIGHLIGHTS: Top Stories of the Day

   TOP STORIES: 
 

Grain, Soy Prices Close Lower as Dollar Gains

CHICAGO--Grain and soybean futures prices finished lower on Friday, weighed down by gains in the U.S. dollar and traders' moves to offset risk ahead of the Memorial Day weekend. Corn, wheat and soybeans all fell more than 1%, after the dollar rose on strong U.S. inflation numbers for April. Strength in the U.S. currency, which improved against the euro and Japan's yen, hurts export demand for U.S. agricultural commodities because it makes them more expensive for overseas buyers.

 
   STORIES OF INTEREST: 
 

USDA May Data Show Fewer Than Expected Cattle Placements Into Feedyards

Government data for the number of cattle placed into the nation's feedyards as of May 1 were below the range of analyst expectations, as producers in parts of the country that experienced favorable weather kept animals on the farm for longer stretches of time. The U.S. Department of Agriculture's cattle-on-feed report released Friday showed around 1.548 million cattle, known as replacements, entered U.S. lots through the end of April, 5% below this time last year, when 1.623 million head were placed.

Wal-Mart Encourages Meat Suppliers to Curb Antibiotic Use

Wal-Mart Stores Inc. (WMT) is asking its meat and egg suppliers to curb their use of antibiotics and offer animals more humane living conditions, inching into a tricky supply issue as Americans press for higher standards for what they eat. The world's largest retailer is asking farmers who grow beef, chicken, pork and other animals for its U.S. stores to limit their use of antibiotics to sick animals and to never use antibiotics to promote animal growth.

 
   OTHER MARKETS: 
 

U.S. Cattle Futures Trim Losses, Narrowly Decline; Hogs Turn Lower

CHICAGO--U.S. cattle futures trimmed losses into the close Friday, amid worries that demand for burgers and steaks could cool after the Memorial Day holiday. June live-cattle fell 0.25 cent, or 0.2%, to $1.5215 a pound at the Chicago Mercantile Exchange, for a 0.3% drop on the week. August live-cattle futures slid 0.2 cent to $1.5070 a pound. Hog futures reversed to settle mostly lower. June hogs slipped 0.05 cent, or 0.1%, to 83.725 cents a pound, for a 0.4% increase on the week.

Write to David Kesmodel at [e-mail]