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Daily Market Report Archive

Grain & Soybean Date: December 06, 2012

Soybeans

Local Elevators:
(Dec) EAST AR:  1464 to 1503
(NC) Summ. 1501 to - - -
River Elevators:
(Dec) MISS: 1516 to 1541 ; AR & White 1466 to 1514
(NC) Summ. 1486 to - - -
Ark. Processor Bids: (Dec) 1491 to 1511  (NC) 1511 to - - -
Memphis:  (Dec) 1531 1/4 to 1536 1/4 (NC)  1324 3/4 to - - -
Riceland Foods:  (Dec) Stuttgart 1491 ; Pendleton 1503 
 (NC) Stuttgart 1305 ; Pendleton 1310 

Chicago Futures: Jan up 12 at  1491 1/4
  March  up  12 1/4  at  1486
  May up 13  at  1463 3/4
  July up 12  at  1451 1/2
  Aug up 10 3/4  at  1423 1/2
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans posted double-digit gains. USDA said today that 1.14 million metric tons were inspected for export this week, far outpacing the trade expectation of 700,000 metric tons. Technically the market is in a position to test resistance at $15. Long term, the market has a 38% retracement objective of $15.30, and a 50% at $15.78.

Wheat
Cash bid for December at Memphis  862 to 874;

Bids to farmers at Local Elevators 833-848;
River Elevators 838-858;

Chicago Futures: Dec up  at  845 1/4 
  March up at  862 
  May up  2 1/2  at  871 
  July up  3 1/2  at  873 
  Sept up  3 3/4  at  881 1/2 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for December at Memphis  1226 to 1235;

Bids to farmers at River Elevators 1163-1208;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for December at Memphis   759 1/2 to 766 1/2;
  New Crop at Memphis   623 3/4 to 631 3/4;
Bids to farmers at River Elevators  758 to 777

Chicago Futures: Dec down  5 1/2  at  747 3/4 
  March down  6 1/4  at  751 1/2 
  May down  5 1/2  at  753 
  July down  5 3/4  at  747 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures were also on the plus-side today. Continuing dry conditions across the plains remain a supportive factor. Current price levels, however, are making U.S. wheat uncompetitive on the global market, and subsequently, the upside is likely limited. The market has been expecting an uptick in exports due to depleted Black Sea region supplies. Weekly inspections were up 26% from last week, but still near the bottom of industry expectations.

Corn futures were lower across the board today. Export inspections were only 51,600 metric tons this week. The industry was expecting 350,000 to 550,000 metric tons, so to say the report was disappointing is probably an understatement. The market continues to consolidate in a narrow range.



Cotton & Rice  Date: December 06, 2012


Cotton

Spot Price, Grade 41 Staple 34: Memphis up 51 at  7055
  Greenwood up  51 at 7055

New York Futures: Dec up  20  at  7224 
  March up  51  at  7355 
 May up  46  at  7447 
 July up  24  at  7524 
 Oct down  28  at  7640 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton closed a few points higher again today, supported by USDA’s huge export inspections report. 415,700 running bales were inspected this week. Regaining lost demand takes time, as does reversing significant world stocks. Look for smaller world plantings in 2013. Certainly, a smaller acreage is anticipated in the U.S. as higher prices for corn and soybeans pull acreage from cotton.

Rice

Long Grain Cash Bid for  Dec 1411/cwt  to  - - -
  NC 1448/cwt  to  - - -

Chicago Futures: Jan down  24 1/2  at  1531 
 March down  24  at  1563 
 May down  23 1/2  at  1596 1/2 
 July down  19 1/2  at  1615 1/2 
 Sept down  16 1/2  at  1547 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures charted a bearish reversal today. The market failed just below $15.60. Mills appear to be scheduled fulltime into the first of the year. However, large world stocks could limit exports from the U.S.



Cattle & Hogs  Date: December 06, 2012

Cattle
As reported by Federal-State Market News, receipts were 1390 head at sales in Ratfliff & Green Forest.  Compared with last week, feeder steers sold steady to $3 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 169.00 to - - -
  500 to 550 lbs. 159.50 to - - -
  600 to 650 lbs. 150.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 160.50 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 139.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 141.00 to - - -

Slaughter Cows, Boners 69.00   to   76.00
Light Weight 60.00 to 67.00
Bulls, Yield Grade   1-2   1000   to   2100 lbs.   83.00   to   89.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 400 to 500 lbs. 172.00 to 188.00
  500 to 550 lbs. 160.00 to 165.00
Heifers 400 to 500 lbs. 140.00 to 163.00
  500 to 600 lbs. 134.00 to 143.50

Chicago Futures:
Live Cattle: Dec down 7 at 12607
  Feb up 50 at 13102
Feeders: Jan up 185 at 14825
  March up 175 at 15080

Cattle Comment
Cattle futures ended with across the board gains. The market traded on both sides of unchanged today, though, with December losing selling interest around $125.50. However, large market ready cattle supplies will likely limit the upside as packers will take the opportunity to lower bids to improve margins.

Hogs
Peoria: were     steady   at   53.00   to   56.00

Chicago Futures: Dec down 155 at 8345
  Feb down 120 at 8445

Hogs Comment
Hogs were in the red today. February looks headed for a retest of support at $82.55-$82.57.



Poultry  Date: December 06, 2012

Eggs

New York:  Ex. Lg. 138-142; Lg. 136-140; Med. 111-115;
Chicago:  Ex. Lg. 131-139; Lg. 129-137; Med. 104-112;

National Turkeys
Hens: 8-16 lbs 108.34
Toms: 16-24 lbs 109.80
 

Delmarva Broilers
U.S. Grade A
Whole broiler/fryers prices are trending steady to instances weak. Offerings are adequate for current trade needs. Demand is light to moderate. Market activity is slow to moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.