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:				0¢

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	8	at	756 3/4
	July	down	8	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:				0¢

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:	0¢

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	9	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:				0¢

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.

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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					0¢
medium grain rice is					0¢

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.

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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.

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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.