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Daily Market Report Archive

Grain & Soybean Date: December 12, 2012

Soybeans

Local Elevators:
(Dec) EAST AR:  1447 to 1486
(NC) Summ. 1484 to - - -
River Elevators:
(Dec) MISS: 1494 to 1524 ; AR & White 1448 to 1492
(NC) Summ. 1469 to 1525
Ark. Processor Bids: (Dec) 1474 to 1494  (NC) 1494 to - - -
Memphis:  (Dec) 1525 1/2 to 1527 1/2 (NC)  1308 1/2 to - - -
Riceland Foods:  (Dec) Stuttgart 1474 ; Pendleton 1486 
 (NC) Stuttgart 1294 ; Pendleton 1302 

Chicago Futures: Jan up 1 1/2 at  1473 1/2
  March  down  3/4  at  1470 1/2
  May down at  1455
  July down 5 1/4  at  1440 3/4
  Aug down 2 3/4  at  1411 1/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans again rallied from early declines to close mixed. The market was pressured early by improving crop conditions in South America and technical selling on demand concerns. Positive outside markets, including higher equities and crude oil, also provided support. For now January had resistance near $15.

Wheat
Cash bid for December at Memphis  808 to 812;

Bids to farmers at Local Elevators 793-808;
River Elevators 790-818;

Chicago Futures: Dec down  11  at  794 3/4 
  March down 9 1/2  at  812 
  May down  9 1/4  at  824 1/2 
  July down  9 1/2  at  832 3/4 
  Sept down  8 1/4  at  844 3/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for December at Memphis  1171 to 1179;

Bids to farmers at River Elevators 1117-1162;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for December at Memphis   729 1/2 to 730 1/2;
  New Crop at Memphis   607 to 617;
Bids to farmers at River Elevators  717 to 736

Chicago Futures: Dec down  3 1/4  at  721 
  March down  2 1/2  at  725 1/2 
  May down  at  728 1/2 
  July down  2 1/4  at  724 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures continued lower today. The selloff began yesterday when USDA raised its U.S. carryout estimate by 7% from the November report. World stocks were raised by 1.6%. July looks headed for a retest of support at $8.25.

Corn continued lower, although losses were trimmed after the Fed confirmed a new bond buying program for 2013. Slow export demand and reduced ethanol production continue to weigh on the market. March futures are being pushed toward support around $7.10.



Cotton & Rice  Date: December 12, 2012


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 22 at  7187
  Greenwood down  22 at 7187

New York Futures: March up  22  at  7512 
  May up  21  at  7600 
 July up  14  at  7677 
 Oct up  14  at  7735 
 Dec up  at  7822 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was higher as technical buying provided follow through on yesterday’s gains. March futures moved above 75 cents and are less than a penny below the 38% retracement objective of 76.14 cents. Export movement has been good, as evidenced by yesterday’s upward bump of 200,000 bales in the supply demand numbers. That is a positive, but a long ways from solving the world supply situation.

Rice

Long Grain Cash Bid for  Dec 1415/cwt  to  - - -
  NC 1451/cwt  to  - - -

Chicago Futures: Jan down  17 1/2  at  1534 1/2 
 March down  17  at  1566 1/2 
 May down  17  at  1599 1/2 
 July down  17  at  1616 1/2 
 Sept down  15  at  1551 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures took a hit late in the session and closed substantially lower. Demand remains steady with mills look into the first of the year. January futures have resistance at $15.60, which if penetrated would suggest a potential move to $15.82 which is the 62% retracement objective.



Cattle & Hogs  Date: December 12, 2012

Cattle
As reported by Federal-State Market News, receipts were 818 head at sales in Conway & Pocahontas.  Compared with last week, feeder steers sold $2 to $5 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 163.00 to - - -
  500 to 550 lbs. 149.00 to - - -
  600 to 650 lbs. 139.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 138.50 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 134.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 132.50 to - - -

Slaughter Cows, Boners 67.00   to   74.00
Light Weight 50.00 to 55.00
Bulls, Yield Grade   1   1000   to   2000 lbs.   80.00   to   88.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 160.00 to 177.00
  500 to 550 lbs. 150.00 to 165.00
Heifers 450 to 500 lbs. 142.00 to 153.00
  500 to 550 lbs. 137.50 to 145.00

Chicago Futures:
Live Cattle: Dec down 20 at 12635
  Feb down 15 at 13180
Feeders: Jan up 67 at 15275
  March up 35 at 15472

Cattle Comment
Cattle futures ended mixed. Profit taking after yesterday’s impressive gains was to blame for the lackluster close. February will have resistance at yesterday’s high fo $132.60.

Hogs
Peoria: were     steady   at   50.00   to   52.00

Chicago Futures: Dec down 2 at 8207
  Feb up 150 at 8565

Hogs Comment
Hog futures were rallied strongly today. Impressive export sales last week and mostly steady cash prices are supportive.



Poultry  Date: December 12, 2012

Eggs

New York:  Ex. Lg. 133-137; Lg. 131-135; Med. 111-115;
Chicago:  Ex. Lg. 131-139; Lg. 129-137; Med. 104-112;

National Turkeys
Hens: 8-16 lbs 99.97
Toms: 16-24 lbs 99.98
 

Delmarva Broilers
U.S. Grade A
Whole broiler/fryers prices are mostly steady. Offerings of all sizes are sufficient for current trade needs. Demand into retail and food service channels is light to moderate for mid-week business. Market activity is slow to moderate. In production areas, live supplies are moderate at mostly desirable weights.