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SOUTHEASTERN hog producers received sharply higher prices during the week ended October 11, while some cattle producers saw a little relief in a depressed market, USDA’s Agricultural Marketing Service reports.
Meanwhile, grain prices tumbled. Soybean prices showed the biggest change with drops of 36 to 4? cents. The previous week, soybean prices shot up nearly $1 a bushel. Corn declines of 15 to 20 cents also erased much of the previous week’s advances.
Packer hog prices closed the week $2.25 to $2.50 higher. Feeder steers and heifers were steady except for Georgia where steers climbed $1. Alabama, on the other hand, registered $1 lower prices on both classes. Feeder steer calves brought mostly steady to $1 higher prices except for Alabama where trends were steady to $1 lower.
FRUITS AND VEGETABLES— Prices and trading were mixed for southeastern fruits and vegetables during the week ended October 10. Apple prices were generally unchanged with western North Carolina Red Delicious at $6 per tray pack carton of U.S. Fancy 88 to 113 size. Appalachian district apples sold at $6 to $7 for 72 to 113 size.
GRAIN — After two weeks of sharply higher prices, southeastern grain markets turned lower during the week ended October 10. Corn prices at the farm level were mostly 15 to 20 cents lower and terminal prices were mostly 6 to 10 cents lower. Soybean prices were mostly 36 to 42 cents under the previous week.
During the week there were a couple of major market factors— the temporary cancellation of a large export sale to Russia and release of the latest USDA crop production figures. Soybean production estimates indicated a decline of 54-million bushels, while corn production estimates dropped 277-million bushels from the September estimate.
Harvesting of corn in the Southeast has progressed rapidly with favorable harvesting conditions. The soybean harvest has started throughout the region. Cash bids to corn producers in southeastern Virginia ranged 6 to 15 cents lower at $3.25 to $3.59; Richmond $3.42 to $3.48; and Wilson, N.C. $3.30. Louisville, Ky. area was $3.55 to $3.61 and Ohio Valley $3.52 to
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