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Daily Market Report Archive

Grain & Soybean Date: June 11, 2012

Soybeans

Local Elevators:
(June) EAST AR:  1384 to 1413
(NC) Summ. 1315 to 1340
River Elevators:
(June) MISS: 1421 to 1457 ; AR & White 1393 to 1411
(NC) Summ. 1325 to 1351
Ark. Processor Bids: (June) 1410 to 1428  (NC) 1335 to 1336
Memphis:  (June) 1432 3/4 to 1449 3/4 (NC)  1344 1/4 to 1346 1/4
Riceland Foods:  (June) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures: July down 1 1/2 at  1424 3/4
  Aug  down  1 1/2  at  1399
  Sept down at  1361
  Nov down 1 1/4  at  1331 1/4
  Jan down 1 3/4  at  1330
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans closed slightly lower ahead of the June supply demand report. Dry weather remains a key factor as anticipated rains across dry areas of the Midwest failed to materialize. Upside potential will be determined by the report & whether there is rain in the near future. A November closed above $12.50 wild signal further gains.

Wheat
Cash bid for June at Memphis  625 1/2 to 626 1/2;

Bids to farmers at Local Elevators 591-606;
River Elevators 592-627;

Chicago Futures: July up  1/4  at  630 1/2 
  Sept up 1/4  at  648 1/4 
  Dec down  at  671 3/4 
  March down  1 1/4  at  693 1/2 
  May down  2 1/2  at  708 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for June at Memphis  1021 to 1030;

Bids to farmers at River Elevators 950-977;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for June at Memphis   609 to 628;
  New Crop at Memphis   520 1/2 to 524 1/2;
Bids to farmers at River Elevators  607 to 622

Chicago Futures: July down  5 1/2  at  592 1/2 
  Sept down  10 1/2  at  540 1/2 
  Dec down  10  at  534 
  March down  10  at  546 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures ended mixed today. Export inspections were as expected. Wheat harvest is progressing well ahead of schedule, but yield reports are highly variable. Tomorrow's report is expected to show total wheat production of 2.222 billion bushels.

Corn was hit hard going into tomorrow's report. Funds were evening up as most outside markets turned negative after making early gains. A bailout for Spain lost momentum early. December futures failed to break above $5.50, which would have signaled further gains. Dry weather impacts may be over ridden by the report.



Cotton & Rice  Date: June 11, 2012


Cotton

Spot Price, Grade 41 Staple 34: Memphis up 219 at  7109
  Greenwood up  219 at 7109

New York Futures: July up  219  at  7509 
  Oct up  at  6875 
 Dec down  59  at  6929 
 March down  71  at  7101 
 May down  66  at  7194 
This week's LDP rate for cotton is  0¢ cents
  The estimate for next week is  0¢ cents
Cotton Comment
Cotton was mostly lower, the exception being nearby July. Upside potential will be limited by big world stocks. Unless there are some big surprises in the report it will be difficult for December to move to the 38 percent retrace meant near 77 cents.

Rice

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

Chicago Futures: July up  1/2  at  1405 1/2 
 Sept up  1/2  at  1430 
 Nov down  at  1455 
 Jan down  1 1/2  at  1483 
 March down  1 1/2  at  1511 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice closed narrowly mixed ahead of the June report. Overall fundamentals remain mixed with large world stocks overhanging the market. On the positive side another small crop should leave U.S. stocks tighter and allow for possible price improvement sometime down the line.



Cattle & Hogs  Date: June 11, 2012

Cattle
As reported by Federal-State Market News, receipts were 3074 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. 187.00 to - - -
  500 to 550 lbs. 171.50 to - - -
  600 to 650 lbs. 157.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 174.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 152.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 149.50 to - - -

Slaughter Cows, Boners 73.00   to   80.00
Light Weight 62.00 to 68.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   94.00   to   102.00
Midwest Steers   were   at   119.00   to   122.00
Panhandle Steers   were   at   122.00   to   122.00

Oklahoma City Feeders
Steers 450 to 500 lbs. 193.50 to 198.00
  550 to 600 lbs. 169.00 to 172.50
Heifers 400 to 500 lbs. 160.00 to 170.00
  500 to 550 lbs. 158.50 to 164.50

Chicago Futures:
Live Cattle: June down 37 at 11950
  Aug down 52 at 12030
Feeders: Aug up 87 at 16025
  Sept up 90 at 16142

Cattle Comment
Feeder cattle were higher today on lower corn futures. Live cattle were under pressure from ideas cash prices have set a seasonal top.

Hogs
Peoria: were $1 lower to $3     higher   at   58.00   to   60.00

Chicago Futures: June up 30 at 9332
  July up 75 at 9367

Hogs Comment
Hog futures were mostly higher on Friday's 95 cent rise in the composite pork cutout. Improving packer margins are a result. However, average hog weights are 5 lbs. heavier than a year ago, and that is limiting the upside.



Poultry  Date: June 11, 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 107.00
Toms: 16-24 lbs 108.00
 

Delmarva Broilers
U.S. Grade A
Prices for whole broiler/fryers are steady. Offerings are 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 mostly desirable weights.