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Arkansas Farm Bureau
Grain & Soybean Date: December 21, 2012

Due to the Holiday's we will not have another report until December 26, 2012.

Soybeans

Local Elevators:
(Dec) EAST AR:  1403 to 1442
(NC) Summ. 1440 to - - -
River Elevators:
(Dec) MISS: 1460 to 1485 ; AR & White 1405 to 1450
(NC) Summ. 1427 to 1485
Ark. Processor Bids: (Dec) 1430 to 1450  (NC) 1450 to - - -
Memphis:  (Dec) 1485 3/4 to - - - (NC)  1300 1/2 to - - -
Riceland Foods:  (Dec) Stuttgart 1431 ; Pendleton 1443 
 (NC) Stuttgart 1276 ; Pendleton 1284 

Chicago Futures: Jan up 22 at  1430 3/4
  March  up  24 1/2  at  1429 1/4
  May up 24  at  1418 3/4
  July up 22 3/4  at  1413 1/4
  Aug up 21  at  1384 1/2
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans made a good rebound despite negative outside markets. Funds have trimmed their positions, but the dollar decline appears to have brought some of them back into the market ahead of the weekend. Fiscal cliff concerns are growing with each day and the inability to arrive at a satisfactory solution. Technically, January soybeans still look vulnerable with the recent low of $13.78 the next support.

Wheat
Cash bid for December at Memphis  811 to 812;
Bids to farmers at Local Elevators 768-783;
River Elevators 765-788;

Chicago Futures: March up  1 1/2  at  792 
  May unchanged - - -  at  802 
  July up  at  808 3/4 
  Sept up  2 1/4  at  820 3/4 
  Dec up  2 1/4  at  832 3/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for December at Memphis  1138 to 1164;
Bids to farmers at River Elevators 1002-1120;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for December at Memphis   711 to 712;
  New Crop at Memphis   586 3/4 to 601 3/4;
Bids to farmers at River Elevators  702 to 725

Chicago Futures: March up  5 1/2  at  702 
  May up  at  704 3/4 
  July up  4 3/4  at  702 
  Sept up  at  626 3/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat was slightly higher as it traded in sympathy with corn and beans. Snow in the Plains and improving growing conditions are weighing on the market, along with negative outside markets. July dipped below $8 in Thursday before reversing. Further technical selling could push the market toward support around $7.80.

Corn rebounded with March futures moving back above $7. Yesterday was the first time the nearby contract had been below $7 since July. A positive in the market was a South Korean tender which left open the possibility of a U.S. sale. March could still move lower with the bottom of the breakaway gap at $6.83 a potential objective.



Cotton & Rice  Date: December 21, 2012


Cotton
Spot Price, Grade 41 Staple 34: Memphis up 35 at  7293
  Greenwood up  35 at 7293

New York Futures: March up  35  at  7618 
  May up  28  at  7676 
 July up  27  at  7731 
 Oct up  25  at  7814 
 Dec up  29  at  7852 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton closed a little higher and is maintaining a steady undertone amidst all the turbulence in the grain markets. Cotton has a “hard row to hoe” with big stocks and slow demand, two major stumbling blocks. World production could decline as much as 15%, but use is expected to increase less than 5%.

Rice
Long Grain Cash Bid for  Dec 1400/cwt  to  - - -
  NC 1460/cwt  to  - - -

Chicago Futures: Jan down  at  1520 1/2 
 March down  at  1550 
 May down  at  1581 1/2 
 July down  at  1600 
 Sept down  1/2  at  1560 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice lost early overnight momentum to close lower for the day. Look for more of this type action through the end of the y ear. Good mill activity is scheduled through January as demand continues fairly good.



Cattle & Hogs  Date: December 21, 2012

Cattle
As reported by Federal-State Market News, receipts were 3945 head at sales in Arkansas this week.  Compared with last week, feeder steers sold mostly firm to $5 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 176.50 to - - -
  500 to 550 lbs. 160.00 to - - -
  600 to 650 lbs. 152.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 155.50 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 141.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 140.50 to - - -

Slaughter Cows, Boners 67.00   to   75.00
Light Weight 65.00 to 70.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   86.00   to   95.00
Midwest Steers   were   at   126.00   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 167.00 to 186.50
  500 to 550 lbs. 153.00 to 174.00
Heifers 450 to 500 lbs. 147.00 to 160.00
  500 to 550 lbs. 138.00 to 157.00

Chicago Futures:
Live Cattle: Dec up 32 at 12927
  Feb up 7 at 13357
Feeders: Jan down 12 at 15215
  March down 7 at 15477

Cattle Comment
Cattle futures were narrowly mixed ahead of today’s cattle on feed report. Placements will have to be well above the trades top end estimate of 93.5% of last year to negatively impact the market. By the same token it will probably take a number below 89% to give it much of a boost.

Hogs
Peoria: - - -       at   - - -   to   - - -

Chicago Futures: Feb up 45 at 8690
  April up 45 at 9162

Hogs Comment
Hog futures were a little higher with cash price levels generally flat. Fundamentally, plants are attempting to account for weather reduced operating time which means bigger numbers for Saturday.



Poultry  Date: December 21, 2012

Eggs
New York:  Ex. Lg. 128-132; Lg. 126-130; Med. 109-113;
Chicago:  Ex. Lg. 126-134; Lg. 124-132; Med. 104-112;

National Turkeys
Hens: 8-16 lbs 99.50
Toms: 16-24 lbs 99.81
 

Delmarva Broilers
U.S. Grade A
Whole broiler/fryers prices are firm. Offerings of all sizes are seasonally light as plants cut back on kill schedules to accommodate limited needs. Demand into all channels is light to moderate, best where holiday events are active. Plant operations for next week are reduced for the upcoming holiday. Market activity is moderate to active. In production areas, live supplies are moderate at mostly desirable weights.

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