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Daily Market Report Archive

Grain & Soybean Date: February 15, 2012

Today's report has mid-day markets and comments.

Soybeans

Local Elevators:
(Feb) EAST AR:  - - - to - - -
(NC) Summ. - - - to - - -
River Elevators:
(Feb) MISS: - - - to - - - ; AR & White - - - to - - -
(NC) Summ. - - - to - - -
Ark. Processor Bids: (Feb) - - - to - - -  (NC) - - - to - - -
Memphis:  (Feb) - - - to - - - (NC)  - - - to - - -
Riceland Foods:  (Feb) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures: March up 8 1/2 at  1263 1/2
  May  up  7 1/2  at  1270
  July up 8 3/4  at  1280
  Aug up at  1268 1/2
  Nov up 2 1/2  at  1260
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans continued to firm in early trade. Increased export prospects, as a result of South American drought, is pushing soybeans higher. Both old and new crop are moving toward higher objectives – $12.76 for March and $12.92 for November.

Wheat
Cash bid for February at Memphis  - - - to - - -;

Bids to farmers at Local Elevators - - -;
River Elevators - - -;

Chicago Futures: March down  at  633 
  May down at  638 
  July down  7 1/2  at  649 3/4 
  Sept down  7 1/2  at  667 
  Dec down  8 1/4  at  685 1/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for February at Memphis  - - - to - - -;

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

Corn

Cash bid for February at Memphis   - - - to - - -;
  New Crop at Memphis   - - - to - - -;
Bids to farmers at River Elevators  - - - to - - -

Chicago Futures: March down  at  632 1/2 
  May down  at  636 
  July down  1 1/2  at  640 
  Sept down  1 1/4  at  589 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures were fractionally lower at mid-day. Lagging exports and an uncertain world economy continue to weigh on prices. July has resistance at $7.

Corn was narrowly mixed at noon. One major concern is building ethanol stocks as Brazilian import needs are declining. Competition from feed wheat for export markets is another factor. As we look ahead, prospects of 94 plus million acres being planted this year could be a negative especially if yields move toward trendline levels.



Cotton & Rice  Date: February 15, 2012


Cotton

Spot Price, Grade 41 Staple 34: Memphis  - - - at  - - -
  Greenwood   - - - at - - -

New York Futures: March up  119  at  9344 
  May up  114  at  9398 
 July up  117  at  9513 
 Oct up  121  at  9547 
 Dec up  55  at  9403 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton firmed after finding support earlier this week. Fundamentals remain unchanged. World economic concerns and competition from manmade fibers will limit upside potential. Farther down the road, market opportunities could improve if dry conditions in Texas and Georgia persist.

Rice

Long Grain Cash Bid for  Feb - - -  to  - - -
  NC - - -  to  - - -

Chicago Futures: March up  1/2  at  1439 
 May up  1/2  at  1463 
 July unchanged  at  1490 
 Sept up  4 1/2  at  1511 
 Nov up  23 1/2  at  1530 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice was mixed at mid-day with little fresh news to drive the market.



Cattle & Hogs  Date: February 15, 2012

Cattle
As reported by Federal-State Market News, receipts were 229 head at sales in Conway and Pocahontas.  Compared with last week, feeder steers were poorly tested, not enought on offer for an accurate price test .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 195 to - - -
  500 to 550 lbs. 180 to - - -
  600 to 650 lbs. 164.50 to - - -
 Medium & Large Frame 2   - - - to - - - lbs. - - - to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 152.50 to - - -
 Medium & Large Frame 2   - - - to - - - lbs. - - - to - - -

Slaughter Cows, Boners 72   to   80
Light Weight - - - to - - -
Bulls, Yield Grade   1   1000   to   2000 lbs.   94   to   - - -
Midwest Steers   were   at   122   to   - - -
Panhandle Steers   were   at   122   to   - - -

Oklahoma City Feeders
Steers 500 to 550 lbs. 179 to 187.50
  550 to 600 lbs. 177 to 189
Heifers 500 to 550 lbs. 164.50 to 168
  550 to 600 lbs. 153 to 167

Chicago Futures:
Live Cattle: April up 35 at 12960
  June up 7 at 12795
Feeders: March up 80 at 15705
  Aug up 57 at 16187

Cattle Comment
Cattle were posting gains at mid-day. April is testing resistance at $129.70. Support begins at $124. Friday’s cattle on feed report is expected to show smaller placements than last year.

Hogs
Peoria: were $2.50 lower to $1.50     higher   at   56.50   to   58.50

Chicago Futures: April down 7 at 8955
  June up 15 at 9900

Hogs Comment
Hog futures turned higher today. 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 15, 2012

Eggs

New York:  Ex. Lg. 102-106; Lg. 100-104; Med. 78-82;
Chicago:  Ex. Lg. 96-104; Lg. 94-102; Med. 74-82;

National Turkeys
Hens: 8-16 lbs. 98.07
Toms: 16-24 lbs. 98.12
 

Delmarva Broilers
U.S. Grade A
Whole broiler/fryer prices are trending higher. Offerings of all sizes are light for current trade needs. Demand is moderate to good. Market activity is active. In production areas, live supplies are moderate at mixed, but mostly desirable weights.