(Jan) EAST AR: 989 to 1003
(NC) Summ. 915 to 960
(Jan) MISS: 1009 to 1045 ; AR & White 992 to 1008
(NC) Summ. 942 to 973
Ark. Processor Bids: (Jan) 997 to 1006 (NC) 940 to 953
Memphis: (Jan) 1045 to - - - (NC) 979 3/4 to - - -
Riceland Foods: (Jan) Stuttgart 1006 ; Pendleton 1003 ; West Memphis 1036
|July||down||31 1/4||at||1035 1/2|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans mad a sharp pullback after Chinese interest rate hikes prompted strength in the dollar. March futures moved near key support around $10.25, while November closed right on $10. Further declines could be bearish for the market. However, funds and outside market movement will remain a major factor.
Cash bid for January at Memphis 497 3/4 to 527 3/4;
|Bids to farmers at Local Elevators||518-522;|
|Chicago Futures:||Mar||down||9 1/2||at||557 3/4|
|Dec||down||9 1/4||at||615 3/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for January at Memphis 746 to - - -;
|Bids to farmers at River Elevators||604-679;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||January at Memphis 407 1/2 to - - -;|
|New crop at Memphis 370 to 425;|
|Bids to farmers at River Elevators||381 to 403|
|Chicago Futures:||Mar||down||4 1/4||at||417 1/2|
|Dec||down||5 1/4||at||443 1/2|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat ended higher today supported by fund buying. U.S. wheat remains overpriced relative to competition and long term will need to decline in order to get export business.
Corn declined slightly today, but remained firm relative to soybeans. March again failed to move above $4.25 but held fairly close to that level at day’s end. The extreme weather conditions are a positive for corn since it means more livestock feed will be consumed.
Cotton & Rice Date: January 07, 2010
|Spot Price, Grade 41 Staple 34:||Memphis down 66 at 6889|
|Greenwood down 66 at 6889|
|New York Futures:||Mar||down||66||at||7289|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton closed lower and at the lowest point in almost 2 months. Higher Chinese interest rates could slow recovery and impact their textile industry. That in turn will impact their import demand. The question is whether the current price ratio corn to cotton or soybeans to cotton will allow for additional U.S. acreage in 2010.
|Long Grain Cash Bid for||Jan/Feb||1371/cwt||to||- - -|
|- - -||- - -||to||- - -|
|Chicago Futures:||Mar||down||8 1/2||at||1501|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice, like other grains and soybeans, were pressured by outside factors. Small across the board declines were registered in today’s trading. There was little fresh news to give the market direction. Current resistance is just under $15. Fundamentals are unchanged with the Philippines having offered several big tenders to cover projected needs of over 2.2 million metric tonnes. India may still need to import rice, but it will be later and a lot more subtle than what we’ve seen from the Philippines.
Cattle & Hogs Date: January 07, 2010
As reported by Federal-State Market News, receipts were 762 head at sales in Charlotte. Compared with last week, feeder steers information is unavailable .
|Medium & Large Frame 1||400||to||450 lbs.||102.75||to||- - -|
|550||to||600 lbs.||90||to||- - -|
|600||to||650 lbs.||94.50||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||- - -||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||86||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||74.50||to||- - -|
Slaughter Cows, Boners 41 to 45
Light Weight - - - to - - -
Bulls, Yield Grade 1-2 1000 to 2100 lbs. 52.50 to 56
Midwest Steers were $1 higher at 84 to - - -
Panhandle Steers were $1 higher at 84 to - - -
|Oklahoma City Feeders
Cattle futures ended mixed. February failed near resistance at $86.80 before closing lower. A lack of cash trade added to the negative undertone. A close below $85.35 would open the market to further losses.
Peoria: were steady at 40 to 42
St. Paul n/a at - - - to - - -
February hogs set a new high for the upmove before closing near the bottom of the day’s trading range. Technical buying, strength in cutout values and weather concerns all added support.
Poultry Date: January 07, 2010
|New York:||Ex. Lg. 118-122; Lg. 116-120; Med. 87-91;|
|Chicago:||Ex. Lg. 108-116; Lg. 106-114; Med. 74-82;|
Eastern Region Turkeys
U.S. Grade A
The market tone was fully steady to firm. Retail and food service demand was moderate to good approaching the weekend. Supplies of all sizes were adequate to close balance to satisfy current trade needs. In production areas live supplies were moderate at mostly desirable weights.