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Daily Market Report Archive

Grain & Soybean Date: January 04, 2013

Soybeans

Local Elevators:
(Jan) EAST AR:  1350 to 1389
(NC) Summ. 1237 to 1260
River Elevators:
(Jan) MISS: 1422 to 1451 ; AR & White 1352 to 1414
(NC) Summ. 1242 to 1277
Ark. Processor Bids: (Jan) 1377 to 1397  (NC) 1252 to 1257
Memphis:  (Jan) 1424 1/4 to 1442 1/4 (NC)  1277 to - - -
Riceland Foods:  (Jan) Stuttgart 1377 ; Pendleton 1389 
 (NC) Stuttgart 1252 ; Pendleton 1260 

Chicago Futures: Jan down 14 at  1389
  March  down  19 1/4  at  1367 1/4
  May down 19 3/4  at  1358 1/2
  July down 21 1/2  at  1355
  Aug down 19 1/4  at  1337
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans were sharply lower again today with a strong dollar, sales cancellations by China, and improving crop prospects in South America providing downward impetus. Soybeans did retrace a portion of today’s declines and closed well off the lows. March futures bounced off old support at $13.56. The market is technically the selloff is ready to end. A close below $13.56 would signal further.

Wheat
Cash bid for January at Memphis  782 1/4 to 784 1/4;

Bids to farmers at Local Elevators 723-733;
River Elevators 720-743;

Chicago Futures: March down  8 1/4  at  747 1/4 
  May down at  756 3/4 
  July down  at  763 1/4 
  Sept down  8 3/4  at  774 3/4 
  Dec down  9 1/2  at  787 1/2 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for January at Memphis  1143 to - - -;

Bids to farmers at River Elevators 1036-1081;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for January at Memphis   702 1/4 to 705 1/4;
  New Crop at Memphis   569 1/2 to 574 1/2;
Bids to farmers at River Elevators  686 to 698

Chicago Futures: March down  at  680 1/4 
  May down  10 1/4  at  680 3/4 
  July down  11 3/4  at  674 3/4 
  Sept down  15  at  594 1/2 
  Today's Arkansas LDP rate for corn is:

Grain Comment
July wheat dipped to support near $7.55 before retracing a portion of today’s decline. While U.S. wheat is now competitively price most buyers have needs covered for the foreseeable future. Poor exports and a strong dollar contributed to continued downtrend.

Corn futures slid lower on a terrible export report and continued weak demand. March futures are at a six month low after closing the July measuring gap. December 2013 is within a dime of support at $5.64 and looks vulnerable to further losses.



Cotton & Rice  Date: January 04, 2013


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 34 at  7180
  Greenwood down  34 at 7180

New York Futures: March down  34  at  7505 
  May down  33  at  7589 
 July down  39  at  7685 
 Oct down  54  at  7817 
 Dec down  37  at  7910 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was lower today but did manage to trim losses by the end of the session. There isn’t any fresh fundamental news to give the market direction. It is apparent that buyers lose interest every time the market rallies. It remains a buyer’s market.

Rice

Long Grain Cash Bid for  Jan 1404/cwt  to  - - -
  NC 1458/cwt  to  - - -

Chicago Futures: Jan up  25  at  1503 
 March up  22 1/2  at  1528 1/2 
 May up  23 1/2  at  1560 1/2 
 July up  23 1/2  at  1588 
 Sept up  25 1/2  at  1558 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
March rice futures made a strong rally today after dipping just below the recent low. How far the market can go depends on recent reports indicating purchases of U.S. rice by Iran and indications Haiti has struck deal with Vietnam. The latter would be a real brimmer as the U.S. has been the exporter of choice for Haiti.



Cattle & Hogs  Date: January 04, 2013

Cattle
As reported by Federal-State Market News, receipts were 832 head at sales in Glenwood.  Compared with last week, feeder steers - - - .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 180.75 to - - -
  500 to 550 lbs. 157.75 to - - -
  600 to 650 lbs. 147.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 158.75 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 145.25 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 145.00 to - - -

Slaughter Cows, Boners 72.00   to   78.00
Light Weight 62.00 to 66.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   86.50   to   89.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers - - - to - - - lbs. - - - to - - -
  - - - to - - - lbs. - - - to - - -
Heifers - - - to - - - lbs. - - - to - - -
  - - - to - - - lbs. - - - to - - -

Chicago Futures:
Live Cattle: Feb down 90 at 13295
  Apr down 55 at 13677
Feeders: Jan up 82 at 15317
  March up 142 at 15632

Cattle Comment
Cattle futures were mixed as feedlots and packers are in a standoff. Packers were offering $125, while feedlots were asking $130. Packer margins remain negative, topping $50 per head. Concerns are building, that high price levels will limit consumer demand for beef.

Hogs
Peoria: were     steady   at   51.50   to   53.50

Chicago Futures: Feb down 17 at 8622
  April down 32 at 8985

Hogs Comment
Hog futures were lower, but it appears the market is looking for fresh news and the reaction to the negative pig crop report is over. Packer margins remain negative, so they are reluctant to raise cash bids; however that could change if numbers tighten.



Poultry  Date: January 04, 2013

Eggs

New York:  Ex. Lg. 117-121; Lg. 115-119; Med. 103-107;
Chicago:  Ex. Lg. 113-121; Lg. 111-119; Med. 90-98;

National Turkeys
Hens: 8-16 lbs 97.50
Toms: 16-24 lbs 99.50
 

Delmarva Broilers
U.S. Grade A
Prices continue higher this week for all reported prices in all regions when compared to the previous week. The undertone is reported as more steady with a few areas reporting it as weak. Spot offerings of all sizes are light to moderate. Demand into retail and food service channels is moderate to good with most buyers resistant to the higher prices. Floor stocks are light to at times moderate. Truck availability remains tight. Market activity is moderate.