(Feb) EAST AR: 1247 to 1275
(NC) Summ. 1232 to 1265
(Feb) MISS: 1293 to 1296 ; AR & White 1256 to 1284
(NC) Summ. 1250 to 1272
Ark. Processor Bids: (Feb) 1273 to - - - (NC) 1259 to 1262
Memphis: (Feb) 1297 1/2 to 1300 1/2 (NC) 1270 to 1272
Riceland Foods: (Feb) Stuttgart 1273 ; Pendleton 1275
(NC) Stuttgart 1262 ; Pendleton 1265
|Chicago Futures:||March||up||9 1/4||at||1267 1/2|
|May||up||8 3/4||at||1273 3/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans continued firm, supported by the biggest one day sale ever. The USDA announced sales of 2.92 mmt to China. However, the majority 2.74 mmt, is for delivery in the 2012-2013 marketing year. Only 173,000 mt was for the current marketing year. Technically, beans continue in a short term uptrend with upside objectives between $12.90 and $13.
Cash bid for February at Memphis 659 to 664;
|Bids to farmers at Local Elevators||610-645;|
|Chicago Futures:||March||up||15 1/4||at||644|
|May||up||12 1/2||at||647 3/4|
|July||up||11 3/4||at||659 3/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for February at Memphis 1137 to - - -;
|Bids to farmers at River Elevators||1084-1111;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||February at Memphis 671 3/4 to 672 3/4;|
|New Crop at Memphis 591 3/4 to - - -;|
|Bids to farmers at River Elevators||647 to 668|
|Chicago Futures:||March||up||5 1/2||at||641 3/4|
|May||up||5 1/2||at||645 1/4|
|July||up||5 1/2||at||648 1/4|
|Sept||up||2 1/2||at||596 3/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat futures posted solid gains. The Ukraine has asked exporters to limit exports until after June as the government is worried about the adequacy of domestic supplies. Continued drought conditions in the Southern Plains are also supportive. July has resistance at $7.
Corn closed mixed with old crop on the positive side. Tight gulf stocks provided support for already good basis levels throughout the supply chain. On the negative side, weaker demand for ethanol could limit upside potential. New crop is being pressured by prospects of 94 plus million acres in the U.S. in 2012. December futures have overhead trendline resistance just cents above today’s high of $5.73.
Cotton & Rice Date: February 17, 2012
|Spot Price, Grade 41 Staple 34:||Memphis down 106 at 8665|
|Greenwood down 106 at 8665|
|New York Futures:||March||down||100||at||9145|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton was pressured by light demand and ended the week sharply lower. Demand for cotton remains limited with world economic conditions a major factor. Competitive pricing for manmade fibers will continue to weigh on the market. On the other hand, China’s desire to build reserve stocks and make purchase on dips in U.S. futures will limit downside pressure. For now, December should hold between 92 cents on the bottom and 98 cents on the top.
|Long Grain Cash Bid for||Feb||1263/cwt||to||- - -|
|NC||1336/cwt||to||- - -|
|Chicago Futures:||March||down||16 1/2||at||1413 1/2|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice was lower as the market retraced recent gains. There is no fresh fundamental news to give the market direction. A poor milled rice export situation will continue to limit upside potential. Smaller 2012 plantings, could eventually give the market a boost, but that could be down the road.
Cattle & Hogs Date: February 17, 2012
As reported by Federal-State Market News, receipts were 5,310 head at sales in Arkansas this week. Compared with last week, feeder steers sold mostly firm to $5 higher .
|Medium & Large Frame 1||400||to||450 lbs.||202.50||to||- - -|
|500||to||550 lbs.||177||to||- - -|
|600||to||650 lbs.||164.50||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||181.50||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||161||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||157||to||- - -|
Slaughter Cows, Boners 78 to 86
Light Weight 61 to 69
Bulls, Yield Grade 1 1000 to 2100 lbs. 88 to 98
Midwest Steers were $6 higher at 128 to - - -
Panhandle Steers were $6 to $7 higher at 128 to 129
|Oklahoma City Feeders
Cattle futures moved to a new high again today. Optimism about the Greek bailout agreement and stronger product values were supportive.
Peoria: were steady at 56.50 to 58.50
Hog futures were mixed. Strong exports continue to support this market. December 2011 exports were over 23% above year ago levels with the annual export total up 18% from 2010. There is no indication movement will decline in the months ahead.
Poultry Date: February 17, 2012
|New York:||Ex. Lg. 102-106; Lg. 100-104; Med. 78-82;|
|Chicago:||Ex. Lg. 96-104; Lg. 94-102; Med. 74-82;|
U.S. Grade A
Whole broiler/fryer prices are higher. Offerings of all sizes are light to sufficient for trade needs. Demand into all channels is moderate to good entering the weekend. Market activity is moderate to active. In production areas, live supplies are moderate at mostly desirable weights.