(March) EAST AR: 1334 to 1362
(NC) Summ. 1288 to 1321
(March) MISS: 1369 to 1380 ; AR & White 1341 to 1359
(NC) Summ. 1306 to 1333
Ark. Processor Bids: (March) 1360 to - - - (NC) 1325 to 1328
Memphis: (March) 1370 to 1375 (NC) 1325 3/4 to 1329 3/4
Riceland Foods: (March) Stuttgart 1360 ; Pendleton 1362
(NC) Stuttgart 1318 ; Pendleton 1321
|Nov||up||10 1/2||at||1317 3/4|
|March '12||up||9 1/2||at||1306 1/2|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans made a quick turn around and retraced a portion of recent loses. Whether the market bias topped, or is just in the midst of a temporary down turn is yet to be determined. A close above $13.33 or below $12.85 by the November contract would suggest whether the market is headed higher or lower. Renewed Chinese interest and concern about the Dock workers strike in Argentina were factors in today’s gains. Fresh information will be needed to keep the bull market moving higher. In any event producer should consider using any rally to price a portion of expected 2012 production.
Cash bid for March at Memphis 645 1/4 to 651 1/4;
|Bids to farmers at Local Elevators||616-636;|
|Chicago Futures:||May||down||6 1/4||at||636 1/4|
|July||down||5 3/4||at||645 3/4|
|Sept||down||5 3/4||at||661 1/2|
|March '12||down||5 1/2||at||694|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 1118 to 1120;
|Bids to farmers at River Elevators||1084-1111;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 662 to 664;|
|New Crop at Memphis 570 to 579;|
|Bids to farmers at River Elevators||644 to 667|
|Chicago Futures:||May||down||5 1/2||at||642|
|July||down||4 3/4||at||641 1/4|
|March '12||down||6||at||564 1/2|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat futures continued lower today. July has fallen below support near $6.50, which could signal additional weakness. Ukraine is estimated to increase wheat acreage by 23% this spring, adding to already large supplies.
Corn remained under pressure and failed to follow beans higher. Support levels are being tested as prospects of a large 2012 U.S. crop are weighing on the market. A December close below $5.50 brings the late 2011 low of $5.35 into play. Below that, support comes in 50 cents increments - $5.00, $4.50, etc.
Cotton & Rice Date: March 21, 2012
|Spot Price, Grade 41 Staple 34:||Memphis up 41 at 8231|
|Greenwood up 41 at 8231|
|New York Futures:||May||up||41||at||8831|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton closed slightly higher with December clinging to support around 88 cents. The only semi-positive thing in the cotton market was a report that China’s Ministry of Agriculture projected cotton acreage would be down 5% this year. That is a start, but the market still has world stocks of 62 million plus bales to deal with. Demand needs to improve to keep the market from sliding lower.
|Long Grain Cash Bid for||March||1265/cwt||to||- - -|
|NC||1334/cwt||to||- - -|
|Chicago Futures:||May||down||2||at||1434 1/2|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice closed slightly lower after failing to hold small early gains. There is little fresh news to give the market direction. Ample world supplies, including big Thai intervention storks, hang over the market. The Thai program has helped firm their market ever so slightly, but the fact is, it is there and can come back into play at some point. Vietnam is doing business with the Philippines, but this year’s exports are running 40% below their 5 year average. It looks as though India has a bumper crop which should keep them in an aggressive export mode. Unfortunately, this doesn’t bode well for U.S. exports and potential price improvement.
Cattle & Hogs Date: March 21, 2012
As reported by Federal-State Market News, receipts were 957 head at sales in Conway and Pocahontas. Compared with last week, feeder steers sold very uneven, averaging near steady .
|Medium & Large Frame 1||400||to||450 lbs.||199||to||- - -|
|500||to||550 lbs.||183||to||- - -|
|600||to||650 lbs.||161||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||177||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||157||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||159||to||- - -|
Slaughter Cows, Boners 80.00 to 87.00
Light Weight 60.00 to 68.00
Bulls, Yield Grade 1 1000 to 2000 lbs. 92.00 to 100.00
Midwest Steers were at 126 to - - -
Panhandle Steers were at 126 to - - -
|Oklahoma City Feeders
Cattle futures turned mostly higher today. However, counter-seasonal weak demand is weighing on prices, and packer margins remain in the red. Live June futures could head for a retest of support near $119.
Peoria: were steady at 57.00 to 59.00
Hog futures were also mixed. June posted losses and violated support at $92.35. Pork prices have fallen again this week, and are now about 13% below year ago prices.
Poultry Date: March 21, 2012
|New York:||Ex. Lg. 125-129; Lg. 123-127; Med. 99-103;|
|Chicago:||Ex. Lg. 106-114; Lg. 104-112; Med. 81-89;|
U.S. Grade A
Whole broiler/fryer prices are steady. Offerings are moderate for current trade needs. Demand into all channels is moderate for midweek business. Market activity is moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.