M-4 Vol. XXX, No. 1 January 4, 2007 FUTURES MARKET WATCH ...

M-4 Vol. XXX, No. 1 January 4, 2007FUTURES MARKET WATCHMonth Commodity 12/29 1/1 1/2 1/3 1/4MarchJulyCornCorn3.904.023.813.953.703.853.623.77MarchJulySoybeansSoybeans6.977.206.897.156.827.076.757.01MarchJulyWheatWheat5.014.97New Year’sDay4.844.844.764.794.674.73March Soybean Meal 196.90 195.50 192.40 193.30MarchDecemberCottonCotton56.1960.2256.1959.5754.8959.5054.5659.45MarchAprilFeeder CattleFeeder Cattle98.3798.9099.65100.1099.0099.4298.7099.40FebruaryAprilLive CattleLive Cattle92.5093.7793.4094.8093.1094.2792.2293.60FebruaryJulyLean HogsLean Hogs61.7072.0060.7071.6059.5070.50OPTIONS MARKET WATCH (1/4/07)Commodity Strike Put Premiums Call PremiumsCotton .56/lb. Mar2.21Wheat 4.80/bu. Mar.250Soybeans 6.80/bu. Mar.252Corn 3.90/bu. Mar.341Hogs 60.00/cwt. Feb1.48Fed Cattle 92.00/cwt. Feb1.53Feeder Cattle 98.00/cwt. Jan8.50May2.43May.265May.280May.334Apr1.45Apr2.33Mar2.70Jly2.61Jly.355Jly.334Jly.354Jun----Jun5.10Apr2.80Mar0.78Mar.120Mar.206Mar.064Feb1.78Feb1.75Jan2.33May2.01May----May.374May.155Apr5.18Apr3.90Mar3.3060.3070.92Jly3.13Jly.286Jly.540Jly.230Jun----Jun1.98Apr4.10FUTURE MARKET TREND ANALYSIS* Corn -Up; Soybeans -Up; Cattle -Up, Hogs - Up*The trend analysis is based on moving averages. For detailed information on the moving trends and their use contact theExtension Ag. Economics Department.This report is available at http://www.ces.uga.edu/Agriculture/agecon/newsltr.html

LIVESTOCK & GRAIN STATISTICSGrain Exports(1000Bu.) This Week Last WeekYearAgoTotal to DateFor Mktg.YearTotal to DateLast Year% This YearOf LastWeek Ending 12/28/06Corn 34,135 38,071 33,076 727,208 608,753 119%Soybeans 19,261 32,666 15,816 490,248 396,762 124%Wheat 19,559 13,635 10,070 484,553 597,657 81%Week Ending 12/30/06Cattle 538 615 517 33,063 31,824 104%Hogs 1835 2201 1798 103,521 102,501 101%PROFIT SCOREBOARDENTERPRISE, YIELDAND MARKETINGSYSTEMTHURSDAY'SCLOSINGFUTURES PRICELESSESTIMATEDBASIS EQUALSFORWARDPRICINGOPPORTUNITYON THURSDAYOUT OF POCKETAND TOTALPRODUCTIONCOSTSPOTENTIAL(RETURNS TOND & MGT.)CHANCE OFPOSITIVERETURN TOLAND ANDMGT. *Wheat40 .bu./acreJuly 4.73 -.25 4.48/ bu. 2.33/bu.3.56/bu..00/bu..92/bu.97%79%Corn - Irrigated150 bu./acreDec. 3.59 .05 3.64/bu. 1.87/bu.2.80/bu.1.77/bu..84/bu.99%93%Soybeans - Dry land30 bu./acreNov. 7.21 -.20 7.01/bu. 4.71/bu.7.01/bu.2.30/bu..0/bu.88%61%BT/RR Cotton - Dryland650 lb./acreDec. .59 -.04 .55/lb. .48/lb..63/lb..7/bu.-.8/lb.79%34%BT/RR Cotton -Irrigated1000 lb./acreDec. .59 -.04 .55/lb. .40/lb..57/lb..15/lb.-.2/lb.99%46%Feeder CattleWinter StockeringSell at 750 lbs.Apr. 99.40 -3.00 96.40/cwt 100.66/cwt104.58/cwt-4.26/cwt-8.18/cwt.24%8%Fed CattlePlaced in this week sellat 1200 lbs.Aug. 88.85 -1.50 87.35/cwt 83.69/cwt83.69/cwt3.66/cwt3.66/cwt99%99%HogsFarrow to Finish*Farrowing this weekJly. 52.79 -1.10 51.69/cwt. 31.97/cwt40.26/cwt.19.72/cwt11.43/cwt99%99%Feeder PigFinishing*Placed this weekJun. 52.79 -3.10 49.69/cwt. 42.52/cwt.45.62/cwt.7.17/cwt4.07/cwt99%99%*Total ConfinementCost of production figures may be obtained upon request. Each cost of production is an estimate of cost for a Georgia producer at the indicated yield. Participation inGovernment commodity programs can greatly affect the level of profitability for the various crop enterprises. Land and management cost are not included in the cropand livestock cost estimates. * Excludes LDP for crops.

GRAIN PRICE PROFILECash Bids and New Crop ContactsCORN WHEAT SOYBEANSLocation Cash Contract* Cash Contract** Cash Contract***Southwest Ga.Southeast Ga.Central Ga.NorthBrunswick*Aug-Sept Delivery **May-June Delivery ***Oct-Dec DeliveryCash Wheat Mill Direct - Macon -------FEED CASH PRICEMID WESTERN CORN SOYBEAN MEAL 48%This week Last week This week Last weekFOB NORTH GA. -------- -------- ----------- ----------FOB SOUTH GA. -------- -------- ---------- ----------FOB EAST GA. -------- -------- ------- ----------Georgia ASCS Posted Adjusted Market Price:Adjusted World Price CottonLIVESTOCK PRICE PROFILEGEORGIA AUCTION January 4, 2007*Prices furnished by Federal State Market News, Thomasville, GA. For up-to-date prices call (1-800-342-1440)Medium Frame #1 Steers: Market Closed this week.Medium Frame #1 Heifers: Market Closed this week.Slaughter Classes: Market Closed this week.Live and Carcass Hog Price -Eastern Cornbelt Direct (1/3/07) Barrows & Gilts - Live Basis 240-280 lbs. $38.50-46.55 Average - 43.92; Carcass - 185 lbs $48.75-57.50 Average - 56.44Sows 500 lbs.-up : $35-38.08 Average - 36.40John C. McKissickExtension Economist-LivestockGeorge ShumakerExtension Economist-Grain MarketingCOUNTY EXTENSION AGENT OR DIRECTOR