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Arkansas Farm Bureau
Grain & Soybean Date: December 31, 2012

Due to the New Year holiday tomorrow, our office will be closed and there will be no report for the day. The next report will be January 02, 2013.

Soybeans

Local Elevators:
(Dec) EAST AR:  1392 to 1431
(NC) Summ. 1429 to - - -
River Elevators:
(Dec) MISS: 1449 to 1479 ; AR & White 1394 to 1439
(NC) Summ. 1416 to 1479
Ark. Processor Bids: (Dec) 1419 to 1439  (NC) 1439 to - - -
Memphis:  (Dec) 1476 3/4 to 1478 3/4 (NC)  1302 3/4 to - - -
Riceland Foods:  (Dec) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures: Jan down 5 1/4 at  1418 3/4
  March  down  8 1/2  at  1409 1/2
  May down 10 1/4  at  1399 1/4
  July down 12  at  1395 1/4
  Aug down 11  at  1373 1/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans ended the day down slightly but showing late improvement for the last day of 2012. Overall fundamentals are unchanged and traders have made adjustments in holdings based on their feelings about what congress would do the last minute on the fiscal cliff situation and the farm program. Light holiday trading after takes the market further than it needs to go, or sometimes in a different direction than might be seen in normal trading times. Come Wednesday we will kick off a new year.

Wheat
Cash bid for December at Memphis  798 to - - -;
Bids to farmers at Local Elevators 754-769;
River Elevators 751-774;

Chicago Futures: March down  3/4  at  778 
  May down 3/4  at  787 3/4 
  July down  1 1/4  at  793 3/4 
  Sept down  at  807 
  Dec down  1/4  at  820 3/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for December at Memphis  1175 to - - -;
Bids to farmers at River Elevators 1068-1113;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for December at Memphis   710 1/4 to - - -;
  New Crop at Memphis   581 1/4 to 596 1/4;
Bids to farmers at River Elevators  698 to 721

Chicago Futures: March up  4 1/4  at  698 1/4 
  May up  3 1/2  at  700 1/4 
  July up  2 1/2  at  697 1/4 
  Sept unchanged  - - -  at  621 1/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat closed narrowly mixed after losing over a dollar during the month of December. Lower price levels appear to be attracting more export demand and giving the market something to hang its hat on as we prepare to start the New Year. Inability to hold above 7.75 to 7.80 could see further losses in the July 2013 contract.

Corn was mostly higher as we back out of 2012. Speculators have reduced long holidays since the August high as they eyed potential congressional actions during the last hours of this year. New Crop December futures are holding near the $6 level. The question is whether the market can hold in this range between $6 and the 50% retracement objective of $5.88 or whether it will go lower.



Cotton & Rice  Date: December 31, 2012


Cotton
Spot Price, Grade 41 Staple 34: Memphis up 48 at  71.89
  Greenwood up  48 at 71.89

New York Futures: March up  48  at  7514 
  May up  27  at  7586 
 July up  26  at  7687 
 Oct up  77  at  7855 
 Dec up  63  at  7874 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was higher today as the market steadied after several days of downward retracement of December gains. The cotton picture remains cloudy with demand concerns and stocks weighing on the market long term. Smaller plantings will help, but it will take a while to recapture lost demand.

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

Chicago Futures: Jan down  9 1/2  at  1486 
 March down  at  1517 1/2 
 May down  9 1/2  at  1548 1/2 
 July down  8 1/2  at  1574 1/2 
 Sept down  at  1540 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Nothing new for rice as the market ended 2012 almost even for the day. Look for a more established trading pattern to develop as we move into 2013.



Cattle & Hogs  Date: December 31, 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   124.00   to   127.00
Panhandle Steers   were   at   127.00   to   127.00

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

Chicago Futures:
Live Cattle: Dec up 50 at 12990
  Feb down 127 at 13230
Feeders: Jan down 62 at 15140
  March down 45 at 15427

Cattle Comment
Cattle futures were mostly lower, with little activity being seen in cash markets on the last day of 2012. While there are weaker market tendencies being seen there shouldn’t be a lot of downside movement unless Washington creates a real economic meltdown. Long term U.S. beef supplies are expected to decline.

Hogs
Peoria: were     steady   at   52.00   to   52.50

Chicago Futures: Feb down 65 at 8572
  April down 140 at 8872

Hogs Comment
Hog futures were sharply lower following a bearish pig crop report. The inventory report released last Friday showed the overall hog herd unchanged, with breeding numbers up slightly. That was higher than expected and indicates early year liquidation was reversed as corn price levels declined later in the year.



Poultry  Date: December 31, 2012

Eggs
New York:  Ex. Lg. 120-124; Lg. 118-122; 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
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 good entering the week. Plant operations for this 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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