Arrivals started in the markets though the quality is on high moisture side and it should be a fortnight before we start getting good quality cargoes in the market. The rumours of crop losses have come down and markets now talk about the Telangana tender cargoes and the demand thereof. Product prices continue to remain strong and we should see better results for poultry players at these product price levels. On the onset of winter we should see demand rising especially for eggs and with opening of restaurants, the QSR demand for chicken will start to come back. Speed will be the question but the direction is positive. Destination market prices are as below
Tamil Nadu :- 1400-1470
Bangalore :- 1380-1400
Ahmedabad :- 1330-1350
Bihar :- 1425-1430, High FD 1120-1140
North :- 1350-1400/Bihar origin@ 1500
Sangli :- 1350-1360
Nothing to comment on exchange, no trades, nothing new to report.
International Market :-
USDA report on Friday holds the key to the market from hereon in, weather contingencies are playing their part and how does USDA factors it in (or not) will need to be seen. China demand, US supplies, Ukraine crop size are the factors one would have to look for in this report and make meaningful decisions out of it. As far as India is concerned Bangladesh should keep it interested till the Rabi crop comes in. Cbot dec contract trading at 388-389 cents/bushel as of this report writing.
Sensex and Nifty
Sensex and Nifty closed @ 39878 and nifty at 11738. Rupee closed at 73.30 versus previous one of 73.43. Weather remained clear and showers only in Orissa and parts of AP/Bengal.