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Daily Market Report Archive

Grain & Soybean Date: November 05, 2012

Soybeans

Local Elevators:
(Nov) EAST AR:  1462 to 1501
(NC) Summ. 1466 to 1505
River Elevators:
(Nov) MISS: 1504 to 1523 ; AR & White 1461 to 1502
(NC) Summ. 1468 to 1543
Ark. Processor Bids: (Nov) 1501 to 1489  (NC) 1493 to 1515
Memphis:  (Nov) 1527 1/4 to 1528 1/4 (NC)  - - - to - - -
Riceland Foods:  (Nov) Stuttgart 1489 ; Pendleton 1501 
 (NC) Stuttgart 1304 ; Pendleton 1309 

Chicago Futures: Nov down 22 3/4 at  1504 1/4
  Jan  down  23 1/2  at  1503 1/4
  March down 21 1/4  at  1482 1/2
  May down 14 3/4  at  1456 1/2
  July down 13 1/2  at  1440 1/2
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans continued under pressure, extending Friday’s decline. Rain in the dry areas of Brazil and drying conditions in the wet areas provided additional pressure in soybeans. Expiring November is pushing toward $15 and /or the recent low near $14.85. Those same points are significant for the most active January contract as well. Projections of 50 to 100 million bushels increase in 2012 production added to the negative undertone.

Wheat
Cash bid for November at Memphis  813 to 861;

Bids to farmers at Local Elevators 829-849;
River Elevators 839-864;

Chicago Futures: Dec up  1 1/2  at  866 
  March up 3/4  at  879 1/4 
  May up  3/4  at  886 1/4 
  July down  at  874 
  Sept down  3/4  at  882 1/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for November at Memphis  1179 to 1188;

Bids to farmers at River Elevators 1081-1187;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for November at Memphis   740 1/2 to - - -;
  New Crop at Memphis   622 1/2 to - - -;
Bids to farmers at River Elevators  696 to 741

Chicago Futures: Dec down  at  735 1/2 
  March down  4 1/2  at  738 
  May down  at  735 1/2 
  July down  at  726 3/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures were mostly higher today on ideas that today’s report will show further deterioration in the crop condition ratings. In the first crop ratings report only 40% of the crop is rated good to excellent. New estimates also say that Kazakhstan’s wheat harvest is about half of 2011’s crop.

Corn was lower today with December trading back to the bottom of a narrow range that has contained the market for the last six weeks. Corn, too, may see a slight upward revision in production in Friday’s report. Probably not enough to cause any significant declines in the market. Demand remains a concern as end users are finding substitutes like wheat and other sources like India and Former Soviet Union countries.



Cotton & Rice  Date: November 05, 2012


Cotton

Spot Price, Grade 41 Staple 34: Memphis up 5 at  6665
  Greenwood up  5 at 6665

New York Futures: Dec up  at  7040 
  March up  21  at  7165 
 May up  at  7275 
 July down  at  7370 
 Oct down  at  7531 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was narrowly mixed, which means there is little fresh news for this market. Long term cotton is looking for improved world economic conditions, while attempting to woo back part of the textile market that was lost to manmade fibers. World production should ratchet down in 2013, but it will likely take at least two year to get stocks back to a more manageable number.

Rice

Long Grain Cash Bid for  Nov 1376/cwt  to  - - -
  NC 1446/cwt  to  - - -

Chicago Futures: Nov up  15  at  1486 
 Jan up  15 1/2  at  1516 
 March up  15 1/2  at  1546 1/2 
 May up  15 1/2  at  1575 
 July up  15 1/2  at  1596 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures closed mixed with January showing a slightly firmer undertone. There are few fresh fundamentals to give this market direction. Prospects of smaller U.S. plantings in 2013 are a positive for the market. On the other hand, large world stocks remain a negative factor. Look for minor changes if any in Friday’s supply demand report.



Cattle & Hogs  Date: November 05, 2012

Cattle
As reported by Federal-State Market News, receipts were 3113 head at sales in Ash Flat, Springdale & Ola.  Compared with last week, feeder steers sold unevenly, mostly weak to $5 lower .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 171.00 to - - -
  500 to 550 lbs. 153.00 to - - -
  600 to 650 lbs. 137.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 164.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 136.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 135.00 to - - -

Slaughter Cows, Boners 66.00   to   74.00
Light Weight 56.00 to 63.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   82.50   to   92.50
Midwest Steers   were   at   126.00   to   126.50
Panhandle Steers   were   at   126.00   to   127.00

Oklahoma City Feeders
Steers 450 to 500 lbs. 165.00 to 178.00
  500 to 550 lbs. 161.50 to 172.00
Heifers 450 to 500 lbs. 141.50 to 155.00
  500 to 600 lbs. 134.50 to 145.00

Chicago Futures:
Live Cattle: Dec down 15 at 12527
  Feb down 12 at 12900
Feeders: Nov steady - - - at 14490
  Jan up 10 at 14677

Cattle Comment
Cattle futures were mixed. Falling beef prices and already weak packer margins are pushing live contracts lower. Nearby December was supported by its premium to cash prices.

Hogs
Peoria: were     steady   at   52.00   to   54.00

Chicago Futures: Dec down 82 at 7692
  Feb down 95 at 8295

Hogs Comment
Hog futures were lower across the board. Packer margins have shown some improvement, and there could be increased demand for hogs as some plants attempt to fill in for lost production from East coast plants. The market is chopping along mostly sideways with December holding between resistance at $79.80 and support at $76.82.



Poultry  Date: November 05, 2012

Eggs

New York:  Ex. Lg. 128-132; Lg. 126-130; Med. 115-119;
Chicago:  Ex. Lg. 125-133; Lg. 123-131; Med. 108-116;

National Turkeys
Hens: 8-16 lbs 109.58
Toms: 16-24 lbs 112.17
 

Delmarva Broilers
U.S. Grade A
Prices are steady for whole broiler/fryers. Offerings are moderate for current trade needs. Demand into retail and food service channels is moderate following the weekend. Market activity is moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.