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Daily Market Report Archive

Grain & Soybean Date: January 25, 2012

Soybeans

Local Elevators:
(Jan) EAST AR:  1188 to 1216
(NC) Summ. 1173 to 1194
River Elevators:
(Jan) MISS: 1242 to 1244 ; AR & White 1197 to 1231
(NC) Summ. 1184 to 1218
Ark. Processor Bids: (Jan) 1209 to 1212  (NC) 1189 to 1194
Memphis:  (Jan) 1246 1/2 to 1248 1/2 (NC)  1218 3/4 to 1223 3/4
Riceland Foods:  (Jan) Stuttgart 1219 ; Pendleton 1221 
 () Stuttgart  ; Pendleton  

Chicago Futures: March up 6 1/2 at  1213 1/2
  May  up  at  1222 3/4
  July up 5 1/2  at  1232 1/2
  Aug up 3 3/4  at  1230 1/4
  Nov'12 up at  1213 3/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans closed mixed with a late rally boosting values. The Fed confirmed they will keep interest rates low through 2014. This gave outside markets a positive twist. Recent rains in South America kept some pressure on old crop contracts. In general, it should be noted that long term trend in soybeans is down, highs for 2012 have likely been made and rebounds should be used to increase sales.

Wheat
Cash bid for January at Memphis  661 1/4 to - - -;

Bids to farmers at Local Elevators 621-646;
River Elevators 671-672;

Chicago Futures: March up  7 3/4  at  641 1/4 
  May up 5 1/2  at  656 1/4 
  July up  at  671 1/4 
  Sept up  at  687 
  Dec up  at  703 1/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for January at Memphis  1115 to 1124;

Bids to farmers at River Elevators 1071-1134;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for January at Memphis   669 1/2 to - - -;
  New Crop at Memphis   572 to - - -;
Bids to farmers at River Elevators  648 to 659

Chicago Futures: March up  4 1/4  at  634 1/2 
  May up  at  640 1/4 
  July up  5 1/2  at  644 
  Sept up  at  587 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures continued higher today. Short covering by the funds and improved export demand were given the credit for today’s strength.

Corn closed slightly higher with nearby contracts a little stronger than new crop. Traders remain concerned about potential U.S. production in 2012. A Big acreage plus return to trendline yields means potential big stocks at the end of the next marketing year. Like soybeans corn has likely made seasonal tops. The market will have rebounds which should be taken as pricing opportunities.



Cotton & Rice  Date: January 25, 2012


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 176 at  9042
  Greenwood down  176 at 9042

New York Futures: March down  126  at  9692 
  May down  118  at  9736 
 July down  101  at  9764 
 Oct down  46  at  9719 
 Dec 12' up  28  at  9469 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton closed lower with a late rally trimming early losses. State of the Union comments dealing with China trade probably were viewed as negative and contributed to early weakness. The Feds confirmation of continued low interest rates was positive for the market. March resistance near a dollar and December around 95 cents may be difficult to break.

Rice

Long Grain Cash Bid for  Jan 1279/cwt  to  - - -
  - - - - - -  to  - - -

Chicago Futures: March down  25  at  1459 
 May down  30  at  1486 1/2 
 July down  25  at  1514 
 Sept unchanged  at  1507 
 Nov down  at  1528 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures were slightly lower for the day. There is little fresh news in the market. Informa projected 2012 plantings at 2.68 million acres down slightly from 2011. Arkansas plantings are projected to be 1.15 million acres down 46,000 from 2011. Much of the decline is expected to be medium grain. Slow exports will continue to limit upside potential.



Cattle & Hogs  Date: January 25, 2012

Cattle
As reported by Federal-State Market News, receipts were 691 head at sales in Conway and Pocahontas.  Compared with last week, feeder steers sold firm $4 to $5 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 175.50 to - - -
  500 to 550 lbs. 161.50 to - - -
  600 to 650 lbs. 147.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 155 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 146 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 136 to - - -

Slaughter Cows, Boners 67   to   75
Light Weight 48 to 53
Bulls, Yield Grade   1   1000   to   2100 lbs.   80   to   87.50
Midwest Steers   were   at   121   to   - - -
Panhandle Steers   were   at   121   to   - - -

Oklahoma City Feeders
Steers 500 to 550 lbs. 168.50 to 180.50
  550 to 600 lbs. 162 to 173.50
Heifers 500 to 550 lbs. 154 to 160
  550 to 600 lbs. 147 to 150.25

Chicago Futures:
Live Cattle: Feb up 5 at 12585
  April steady 0 at 12917
Feeders: March up 12 at 1550
  Aug up 32 at 15915

Cattle Comment
Cattle futures were barely on the plus side of unchanged today. A big jump in cutout values Monday caused the market to gap higher yesterday. However, weak packer margins could limit any upside for cash bids.

Hogs
Peoria: were 50 cents to $1     higher   at   57   to   59

Chicago Futures: Feb up 60 at 8662
  April up 37 at 8822

Hogs Comment
Hog futures regained some of yesterday’s big losses. April failed at resistance at $89.42 earlier in the week. Pork prices should have bottomed at this point, and are expected to gradually improve into spring. However, packer margins are still in negative territory, which could limit upside potential short-term.



Poultry  Date: January 25, 2012

Eggs

New York:  Ex. Lg. 103-107; Lg. 101-105; Med. 88-92;
Chicago:  Ex. Lg. 96-104; Lg. 94-102; Med. 79-87;

National Turkeys
Hens: 8-16 lbs. 89
Toms: 16-24 lbs. 89
 

Delmarva Broilers
U.S. Grade A
Whole broiler/fryer prices are steady at best. Offerings are light to moderate. Demand is light to moderate with trading usually limited to regular commitments. Market activity is slow to moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.