Are you sure that is the entire output? I see you are appending -S but it is not in the comment where you say "output looks like this"
bcp "exec RSDV_App..Rpt_JobTransactionsSp 'SRMQDIC','ROD','B','HNS','0','B',null,null,null,null,'000','9999','1/1/2013','3/17/2013',null,null,null,null,null,null,null,null,'T',null,null,'1','0','1033'" Queryout "c:\temp\query.txt" -T -c -t^|
Make sure that SSMS is set to return more all the characters, see Tools > Options > Query Results > Results to Text/Grid.
Try taking the [complete] command line output from your code and execute it at a cmd shell prompt, i.e. let's take xp_cmdshell out of the equation for a minute to see if it is part of the issue, or whether we see an issue just using bcp. I think I know what's going on, but please post the results.
There are no special teachers of virtue, because virtue is taught by the whole community.
--Plato