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Arkansas Farm Bureau
Grain & Soybean Date: December 28, 2012

Soybeans

Local Elevators:
(Dec) EAST AR:  1397 to 1436
(NC) Summ. 1434 to - - -
River Elevators:
(Dec) MISS: 1454 to 1482 ; AR & White 1399 to 1444
(NC) Summ. 1421 to 1482
Ark. Processor Bids: (Dec) 1424 to 1444  (NC) 1444 to - - -
Memphis:  (Dec) 1482 to 1484 (NC)  1310 1/4 to - - -
Riceland Foods:  (Dec) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures: Jan up 5 1/4 at  1424
  March  up  at  1418
  May up 4 1/2  at  1409 1/2
  July up 5 3/4  at  1407 1/4
  Aug up 6 3/4  at  1384 1/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans traded to the positive side, but couldn’t generate much enthusiasm. There was little fresh fundamental news excluding the weekly export sales report. Soybeans managed decent net sales despite substantial Chinese cancellations that were in this report. Improving crop conditions in South America limited upside potential. Producers should be aware that past bull moves have had significant downturns of 50% or more from the market tops.

Wheat
Cash bid for December at Memphis  798 3/4 to - - -;
Bids to farmers at Local Elevators 755-770;
River Elevators 752-775;

Chicago Futures: March up  6 1/2  at  778 3/4 
  May up 6 1/4  at  788 1/2 
  July up  at  795 
  Sept up  4 1/2  at  808 
  Dec up  4 1/2  at  821 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for December at Memphis  1168 to - - -;
Bids to farmers at River Elevators 1061-1105;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for December at Memphis   706 to - - -;
  New Crop at Memphis   581 1/4 to 596 1/4;
Bids to farmers at River Elevators  694 to 717

Chicago Futures: March up  2 1/2  at  694 
  May up  2 1/4  at  696 3/4 
  July up  2 3/4  at  694 3/4 
  Sept up  3 3/4  at  621 1/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat was also slightly higher on limited trade. Trading should resume a more normal level after next week’s new year’s holiday. Net export sales for wheat were up over 50% from last week. There were good sales to Egypt, Nigeria, Japan and Turkey. Technically, July futures dipped to within a couple of cents of support near $7.80.

Corn was mostly higher for the day, but gains were limited. Net export sales were very poor, totaling just over 4 million bushels. Ethanol production was up slightly from prior weeks despite negative processing margins. However, production is almost 15% below year ago levels. New Crop December fell below $6.00 earlier in the week and hasn’t been able to move back above that level.



Cotton & Rice  Date: December 28, 2012


Cotton
Spot Price, Grade 41 Staple 34: Memphis unchanged - - - at  71.41
  Greenwood unchanged  - - - at 71.41

New York Futures: March down  135  at  7466 
  May down  104  at  7559 
 July down  79  at  7661 
 Oct down  74  at  7778 
 Oct down  38  at  7811 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton continued yesterday’s sell off and old crop March dipped below 75 cents after topping at just over 77 cents. Fiscal cliff concerns appear to be pushing funds to take profits. Declining disposable income because of higher taxes would tend to limit cotton demand.

Rice
Long Grain Cash Bid for  Dec - - -  to  - - -
  NC - - -  to  - - -

Chicago Futures: Jan down  at  1495 1/2 
 March down  3 1/2  at  1526 1/2 
 May down  at  1558 
 July down  4 1/2  at  1583 
 Sept up  at  1549 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures fell to the lower level in a mouth with market activities very limited. Little change is expected until after the New Year’s holiday. January futures leave support around $14.85 and then $14.60.



Cattle & Hogs  Date: December 28, 2012

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

Steers:
 Medium & Large Frame 1   - - - to - - - lbs. - - - to - - -
  - - - to - - - lbs. - - - to - - -
  - - - to - - - lbs. - - - to - - -
 Medium & Large Frame 2   - - - to - - - lbs. - - - to - - -

Heifers:
 Medium & Large Frame 1   - - - to - - - lbs. - - - to - - -
 Medium & Large Frame 2   - - - to - - - lbs. - - - to - - -

Slaughter Cows, Boners - - -   to   - - -
Light Weight - - - to - - -
Bulls, Yield Grade   - - -   - - -   to   - - - lbs.   - - -   to   - - -
Midwest Steers   were   at   127.00   to   - - -
Panhandle Steers   were   at   127.00   to   - - -

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

Chicago Futures:
Live Cattle: Dec up 55 at 12940
  Feb up 52 at 13357
Feeders: Jan up 75 at 15202
  March up 97 at 15472

Cattle Comment
Cattle futures were firm today as tighter supplies remain a concern. Worries about the fiscal cliff potential, with higher taxes cutting disposable income, limited upside potential for cattle. Weather reduced movement may create short term backups for next week. Poor packer margins remain a negative factor.

Hogs
Peoria: were     steady   at   52.00   to   52.50

Chicago Futures: Feb down 65 at 8637
  April down 82 at 9012

Hogs Comment
Hog futures were lower despite supply tightness. A short slaughter week, and negative packer margins will limit demand and pressure the market near term.



Poultry  Date: December 28, 2012

Eggs
New York:  Ex. Lg. 120-124; Lg. 118-122; Med. 103-107;
Chicago:  Ex. Lg. 123-131; Lg. 121-129; Med. 100-108;

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

Delmarva Broilers
U.S. Grade A
Whole broiler/fryers prices are firm to higher. Offerings of all sizes are light for current trade needs. Demand into all channels is moderate to at times good entering the weekend. Plant operations for next week are reduced for the holiday. Market activity is moderate to active. In production areas, live supplies are moderate at mostly desirable weights.

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