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Daily Market Report Archive

Grain & Soybean Date: June 04, 2012

Soybeans

Local Elevators:
(June) EAST AR:  1309 to 1337
(NC) Summ. 1252 to 1277
River Elevators:
(June) MISS: 1336 to 1368 ; AR & White 1308 to 1326
(NC) Summ. 1262 to 1288
Ark. Processor Bids: (June) 1335 to 1343  (NC) 1272 to 1273
Memphis:  (June) - - - to - - - (NC)  - - - to - - -
Riceland Foods:  (June) Stuttgart 1335 ; Pendleton 1337 
 (NC) Stuttgart 1372 ; Pendleton 1377 

Chicago Futures: July down 4 1/4 at  1340
  Aug  up  1 1/4  at  1319 3/4
  Sept up 6 1/4  at  1291 3/4
  Nov up 10 1/4  at  1268 1/4
  Jan up 11  at  1271 3/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans closed mixed with the lead july contract slightly lower. Renewed Chinese interest gave new crop contracts a little boost. China purchased 165,000 to China had indicated oil seed plantings are down almost 3% this year. November again tested supported just below $12.50. Additional Chart supported is located near $12.30. A close below this level would signal a probably move to just below $11.65.

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

Bids to farmers at Local Elevators 598-608;
River Elevators 589-623;

Chicago Futures: July up  15 1/2  at  627 3/4 
  Sept up 15 1/4  at  646 
  Dec up  15 3/4  at  672 1/2 
  March up  17 3/4  at  695 3/4 
  May up  15 1/2  at  709 1/4 
  Today's Arkansas LDP rate for wheat is:

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

Bids to farmers at River Elevators 907-934;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for June at Memphis   - - - to - - -;
  NC at Memphis   - - - to - - -;
Bids to farmers at River Elevators  583 to 598

Chicago Futures: July up  16 1/2  at  568 
  Sept up  12 3/4  at  527 1/2 
  Dec up  13 3/4  at  523 3/4 
  March up  4   at  535 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat firmed today after closing last Friday on a weak note. A quickly moving harvest will pressure the market, while poor yields in the Sothern plains are supportive. July support is seen around $5.90.

Corn got a big boost from light spotty weekend rains. While they will help there are still concerns about sub soil moisture and the continuing need for rain as the crop progresses. December Corn will need to close above $5.35 to suggest the market has bottomed temporarily. Support remains $4.99.



Cotton & Rice  Date: June 04, 2012


Cotton

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

New York Futures: July down  at  6853 
  Oct down  107  at  6778 
 Dec down  55  at  6706 
 March down  56  at  6927 
 May down  23  at  7081 
This week's LDP rate for cotton is  0¢ cents
  The estimate for next week is  0¢ cents
Cotton Comment
Cotton closed lower again today, but the market did retrace a major portion of early declines. Concern about the U.S. economic outlook, as well as the ongoing saga in Europe is weighing on cotton. Rising world stocks and slow demand don’t bode well. December futures dipped below 65 cents and have shown little indication of bottoming.

Rice

Long Grain Cash Bid for  June 12.11/cwt  to  - - -
  NC 12.53/cwt  to  - - -

Chicago Futures: July down  28  at  1376 
 Sept down  28  at  1402 1/2 
 Nov down  28  at  1428 1/2 
 Jan down  27  at  1453 
 March down  28  at  1476 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures continued the downturn of the last 3 weeks. September is just cents away from the contract low of $13.95. Big world stocks and prospects of a good U.S. crop in 2012 are weighing on the market. Overall export demand remains weak.



Cattle & Hogs  Date: June 04, 2012

Cattle
As reported by Federal-State Market News, receipts were 3832 head at sales in Ash Flat, Springdale, Ola, and Heber Springs.  Compared with last week, feeder steers sold unevenly, averaging near steady .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 183.50 to - - -
  500 to 550 lbs. 169.00 to - - -
  600 to 650 lbs. 156.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 172.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 149.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 155.00 to - - -

Slaughter Cows, Boners 79.00   to   87.00
Light Weight 65.00 to 72.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   95.00   to   105.00
Midwest Steers   were   at   119.00   to   122.50
Panhandle Steers   were   at   118.00   to   121.00

Oklahoma City Feeders
Steers 500 to 550 lbs. 181.00 to 188.00
  600 to 650 lbs. 166.00 to 168.00
Heifers 450 to 500 lbs. 168.00 to 169.00
  500 to 550 lbs. 156.00 to 169.00

Chicago Futures:
Live Cattle: June down 2 at 11767
  Aug up 37 at 11997
Feeders: Aug up 110 at 15847
  Sept up 82 at 15967

Cattle Comment
Cattle closed the day steady to firm despite expectations of weak seasonal demand. Negative economic news continues to limit upside movement. As supplies tighten, that will become less of a factor. Feeder futures remain in a long term uptrend.

Hogs
Peoria: were $3 lower to $1     higher   at   55.00   to   57.00

Chicago Futures: June up 47 at 9120
  July down 52 at 9105

Hogs Comment
Hog futures closed mixed with seasonal tightness in numbers providing some support and essentially offsetting poor packer margins. Supplies should continue to tighten over the near term.



Poultry  Date: June 04, 2012

Eggs

New York:  Ex. Lg. 105-109; Lg. 103-107; Med. 75-79;
Chicago:  Ex. Lg. 96-104; Lg. 94-102; Med. 67-75;

National Turkeys
Hens: 8-16 lbs 109.21
Toms: 16-24 lbs 108.41
 

Delmarva Broilers
U.S. Grade A
Prices for whole broiler/fryers are steady at best. Offerings are moderate to at times heavy. Demand is light to moderate following the weekend. Market activity is slow to moderate. In production areas, live supplies are moderate at mostly desirable weights.