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Daily Market Report Archive

Grain & Soybean Date: January 30, 2012

Soybeans

Local Elevators:
(Jan) EAST AR:  1164 to 1192
(NC) Summ. 1159 to 1181
River Elevators:
(Jan) MISS: 1215 to 1217 ; AR & White 1173 to 1205
(NC) Summ. 1171 to 1204
Ark. Processor Bids: (Jan) 1190 to - - -  (NC) 1180 to 1181
Memphis:  (Jan) 1215 1/4 to 1218 1/4 (NC)  1201 1/2 to 1204 1/2
Riceland Foods:  (Jan) Stuttgart 1190 ; Pendleton 1192 
 () Stuttgart  ; Pendleton  

Chicago Futures: March down 33 3/4 at  1185 1/4
  May  down  33 1/4  at  1195 1/4
  July down 33 1/4  at  1205
  Aug down 32 1/4  at  1204
  Nov down 27 3/4  at  1194 1/2
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans were sharply following weekend rains in much of the drought stricken areas of South America. General feeling is this rain put bushels back on yield expectations. While dry weather and high temperatures reduced yield prospects this rain trimmed disaster prospects. Outside markets were also negative as world economic conditions remain in the forefront. The dollar strengthened while crude oil and equities were weak. Mid-January support comes back into play, that is $11.50 to $11.60 for March and a dime higher for November.

Wheat
Cash bid for January at Memphis  668 3/4 to 669 3/4;

Bids to farmers at Local Elevators 621-646;
River Elevators 676-677;

Chicago Futures: March down  2 1/2  at  644 3/4 
  May down at  658 3/4 
  July down  3 1/2  at  671 1/4 
  Sept down  4 1/4  at  686 1/2 
  Dec down  at  703 1/2 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for January at Memphis  1119 to 1137;

Bids to farmers at River Elevators 1066-1129;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for January at Memphis   658 3/4 to 669 3/4;
  New Crop at Memphis   572 1/4 to 574 1/4;
Bids to farmers at River Elevators  645 to 657

Chicago Futures: March down  10  at  631 3/4 
  May down  9 3/4  at  637 3/4 
  July down  9 3/4  at  641 1/4 
  Sept down  6 3/4  at  587 1/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat ended a bit lower today. The recent rally seems to have run into resistance around $6.75 for July. Improved export demand has given the market a boost as U.S. price levels are finally competitive. Supplies in the Black Sea area are gone and this will keep the U.S. in the mix.

Corn was lower for the day, but was not hit as hard as soybeans. Rain was likely to late for much of the corn, which was hit during the main pollination period. However, we could see corn move back toward recent support for March just below $6 and new crop December around $5.50.



Cotton & Rice  Date: January 30, 2012


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 146 at  8765
  Greenwood down  146 at 8765

New York Futures: March down  146  at  9415 
  May down  122  at  9487 
 July down  95  at  9561 
 Oct down  128  at  9528 
 Dec down  115  at  9344 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was pushed lower again today with negative outside markets providing the major impetus. Cotton hit major resistance last week with old crop March unable to move above the dollar level and new crop December failing to break through trendline resistance around 95 cents. Informa released their latest acreage projection week before last. Cotton plantings were down just 6%, which include sizeable plantings in drought stricken Texas. Smaller plantings also are expected in China.

Rice

Long Grain Cash Bid for  Jan 1260  to  1266/cwt
  NC 1293/cwt  to  - - -

Chicago Futures: March down  18  at  1445 1/2 
 May down  18  at  1473 1/2 
 July down  18 1/2  at  1500 
 Sept down  18 1/2  at  1493 
 Nov down  18 1/2  at  1515 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures closed lower. Trading remained in the recent range, but near the bottom. Inability to hold here would bring late 2011 support just under $14 into play. Fundamentals remain negative with limited export demand a major factor. Inability to garner any of the latest tender from Iraq was a negative factor as were today’s outside markets.



Cattle & Hogs  Date: January 30, 2012

Cattle
As reported by Federal-State Market News, receipts were 1,948 head at sales in Ash Flat and Springdale.  Compared with last week, feeder steers sold $3 to $6 higher, instances $7 to $10 .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 191 to - - -
  500 to 550 lbs. 175 to - -
  600 to 650 lbs. 150 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 170 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 149 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 150 to - - -

Slaughter Cows, Boners 67   to   75
Light Weight 50 to 58
Bulls, Yield Grade   1   1000   to   2100 lbs.   84   to   94
Midwest Steers   were $1 to $2 higher   at   123   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 525 to 600 lbs. 172 to 186
  600 to 650 lbs. 159 to 170
Heifers 500 to 550 lbs. 159 to 168
  550 to 600 lbs. 152.75 to 158.50

Chicago Futures:
Live Cattle: Feb down 75 at 12392
  April down 70 at 12775
Feeders: March down 25 at 15435
  Aug down 5 at 15900

Cattle Comment
Cattle futures were lower today despite the bullish inventory report released Friday. Today’s weakness was in reaction to negative action in outside markets and renewed concerns about how the economy will impact demand. However, tight feeder cattle supplies will keep price levels firm. At the same time, the supply of fat cattle will get even tighter as we head into spring.

Hogs
Peoria: were $1.50 lower to $2     higher   at   58   to   59

Chicago Futures: Feb down 22 at 8645
  April down 22 at 8715

Hogs Comment
Hog futures were also weaker today on concerns from outside markets. However, the big push by packers suggests they are anticipating increased export demand in the near future. Some expect carcass price levels will top $100 for the second year in a row.



Poultry  Date: January 30, 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. 98.73
Toms: 16-24 lbs. 97.29
 

Delmarva Broilers
U.S. Grade A
Whole broiler/fryer prices are about steady. Offerings are moderate to satisfy trade needs. Demand following the weekend is moderate with limited trading. Market activity is slow to moderate. In production areas, live supplies are moderate. Weights are mixed, but mostly desirable.