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Daily Market Report Archive

Grain & Soybean Date: February 06, 2012

Soybeans

Local Elevators:
(Feb) EAST AR:  1212 to 1240
(NC) Summ. 1207 to 1234
River Elevators:
(Feb) MISS: 1260 to 1263 ; AR & White 1221 to 1249
(NC) Summ. 1219 to 1249
Ark. Processor Bids: (Feb) 1238 to - - -  (NC) 1229 to - - -
Memphis:  (Feb) 1263 to - - - (NC)  1249 to - - -
Riceland Foods:  (Feb) Stuttgart 1238 ; Pendleton 1240 
 (NC) Stuttgart 1229 ; Pendleton 1239 

Chicago Futures: March up 1/2 at  1233
  May  up  1 1/4  at  1242
  July up 1 1/2  at  1251 3/4
  Aug up 1 1/2  at  1249 1/2
  Nov up 1 3/4  at  1239
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans closed slightly higher, but well below the day’s highs. Concern about the South American soybean crop and potential winterkill in the European rapeseed crop boosted the market early. March came within a cent of the January high, while November moved to the highest level in over three months. Producers should be looking at this as a pricing opportunity for a portion of expected 2012 production.

Wheat
Cash bid for February at Memphis  690 1/2 to 693 1/2;

Bids to farmers at Local Elevators 642-667;
River Elevators 659-702;

Chicago Futures: March up  7 3/4  at  668 1/2 
  May up 5 3/4  at  679 3/4 
  July up  at  692 
  Sept up  3 1/4  at  709 1/4 
  Dec up  3 1/4  at  726 1/2 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for February at Memphis  1133 to 1142;

Bids to farmers at River Elevators 1088-1150;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for February at Memphis   674 1/4 to - - -;
  New Crop at Memphis   592 1/4 to 595 1/4;
Bids to farmers at River Elevators  644 to 670

Chicago Futures: March down  1/4  at  644 1/4 
  May up  1/2  at  651 1/4 
  July up  3/4  at  656 1/4 
  Sept up  1/2  at  605 1/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat posted gains today. Russia announced last week that there would be no need to impose import duties until all grain exports equal 27 million metric tons, which means there won’t be any export restrictions. July futures have halted for now at previous resistance just above $7. A close above that level likely adds another quarter to the market.

Corn closed nearly steady as the market moved in a sideways pattern just below key resistance. The recent strong basis appears to have pulled some corn out of farmer hands. This week’s supply demand report will give the next gauge on possible damage in South America.



Cotton & Rice  Date: February 06, 2012


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 3 at  9006
  Greenwood down  3 at 9006

New York Futures: March down  at  9631 
  May up  35  at  9783 
 July up  76  at  9921 
 Oct up  71  at  9871 
 Dec up  90  at  9728 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton continued to firm with New Crop December closing above 97 cents. Resistance at 98 cents and then just above $1.02 are the next potential upside objectives. Last week’s improved job numbers and declining unemployment figures are a positive. However, the European economic situation remains a possible negative factor.

Rice

Long Grain Cash Bid for  Feb 1244/cwt  to  - - -
  NC 1302/cwt  to  - - -

Chicago Futures: March up  6 1/2  at  1394 
 May up  at  1420 1/2 
 July up  6 1/2  at  1448 1/2 
 Sept up  6 1/2  at  1451 1/2 
 Nov up  5 1/2  at  1469 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures firmed slightly as the market showed a little followthrough on Friday’s gains. Upside potential remains limited as export demand continues soft. Planting in 2012 is expected to be down slightly from last year’s flood reduced numbers.



Cattle & Hogs  Date: February 06, 2012

Cattle
As reported by Federal-State Market News, receipts were 2,331 head at sales in Ash Flat, Springdale and Ola.  Compared with last week, feeder steers sold firm to $5 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 195 to - - -
  500 to 550 lbs. 178.50 to - - -
  600 to 650 lbs. 154 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 178 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 156 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 146.50 to - - -

Slaughter Cows, Boners 69   to   77
Light Weight 54 to 63
Bulls, Yield Grade   1   1000   to   2100 lbs.   84   to   95.50
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   werew   at   - - -   to   - -

Oklahoma City Feeders
Steers 500 to 550 lbs. 184 to 196.50
  550 to 600 lbs. 173 to 186
Heifers 500 to 550 lbs. 157 to 171.50
  550 to 600 lbs. 150.50 to 163.50

Chicago Futures:
Live Cattle: April up 10 at 12750
  June up 37 at 12722
Feeders: March down 32 at 15412
  Aug down 50 at 15925

Cattle Comment
Cattle futures ended mixed today pressured by poor packer margins and weakening beef values. This is a blip on the radar screen as the long term situation suggests tightening supplies and higher price levels.

Hogs
Peoria: were $1.50 lower to $2.50     higher   at   57.50   to   59.50

Chicago Futures: April down 37 at 8855
  June up 37 at 9847

Hogs Comment
Hog futures were mostly lower. Light packer demand was the order of the day. Negative packer margins kept buyers on the sideline. Longer term strong export demand will limit downside pressure.



Poultry  Date: February 06, 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. 95.92
Toms: 16-24 lbs. 96.42
 

Delmarva Broilers
U.S. Grade A
Whole broiler/fryer prices are steady. Offerings are moderate for current trade needs. Demand is moderate following post Super bowl weekend. Market activity is moderate. In production areas, live supplies are moderate. Weights are mixed, but mostly desirable.