(Jan) EAST AR: 985 to 999
(NC) Summ. 914 to 959
(Jan) MISS: 1005 to 1041 ; AR & White 988 to 1004
(NC) Summ. 941 to 972
Ark. Processor Bids: (Jan) 993 to 1002 (NC) 939 to 952
Memphis: (Jan) 1042 to 1043 (NC) 979 to - - -
Riceland Foods: (Jan) Stuttgart 1002 ; Pendleton 999 ; West Memphis 1032
|May||down||3 1/4||at||1027 3/4|
|July||down||3 1/4||at||1032 1/4|
|Sept||down||2 1/2||at||1012 1/2|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans retraced a portion of early declines but still ended the session a little lower. While everyone anticipates increased export projections in next week’s report, there is growing concern that China will switch to South America soybeans and likely cancel some purchases from the U.S. A very good crop is developing in South America and most analysts expect the production estimate to be raised in the January 12 report. March futures bounced off trendline support around $10.13. Inability to hold this level would be bearish.
Cash bid for January at Memphis 508 1/2 to 538 1/2;
|Bids to farmers at Local Elevators||529-533;|
|Chicago Futures:||Mar||up||10 3/4||at||568 1/2|
|May||up||10 3/4||at||580 3/4|
|July||up||1 1/2||at||590 1/2|
|Sept||up||10 3/4||at||604 1/2|
|Dec||up||11 3/4||at||627 1/2|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for January at Memphis 755 to - - -;
|Bids to farmers at River Elevators||614-689;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||January at Memphis 419 to - - -;|
|New crop at Memphis 375 3/4 to 435 3/4;|
|Bids to farmers at River Elevators||387 to 409|
|Chicago Futures:||Mar||up||5 1/2||at||423|
|May||up||5 1/4||at||433 1/4|
|Sept||up||5 3/4||at||445 3/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat posted strong gains today. A decline in winter wheat seedings is expected in Tuesday’s report, but it has been expected for some time and should be about factored into prices at this point. U.S. wheat remains overpriced relative to competition and long term will need to decline in order to get export business.
Corn finished on a strong note with gains of 4 to 6 cents . March closed near the high of the day and just under key resistance. A close above $4.25 would be positive. Little consensus has developed with regard to USDA’s production estimate next week. Potential losses from unharvested corn range as high as 100 million bushels.
Cotton & Rice Date: January 08, 2010
|Spot Price, Grade 41 Staple 34:||Memphis down 45 at 6844|
|Greenwood down 45 at 6844|
|New York Futures:||Mar||down||45||at||7244|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||1.02 cents|
Cotton was lower again today as concerns about Chinese demand increased. The market was not responsive to a weaker dollar after China raised interest rates earlier in the week. Long term bigger U.S. plantings will be needed as stocks worldwide continue to tighten. March futures could work toward support at 71.7 cents or perhaps even 70.2 cents.
|Long Grain Cash Bid for||Jan/Feb||1365/cwt||to||- - -|
|- - -||- - -||to||- - -|
|Chicago Futures:||Mar||down||5 1/2||at||1495 1/2|
|May||down||6 1/2||at||1520 1/2|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice continues in a consolidation pattern with March support around $14.50. There has been little fresh news to give the market direction. Any adjustments in the U.S. supply demand report should be minor.
Cattle & Hogs Date: January 08, 2010
As reported by Federal-State Market News, receipts were 2,515 head at sales in Arkansas this week. Compared with last week, feeder steers have no recent comparison .
|Medium & Large Frame 1||400||to||450 lbs.||101.50||to||- - -|
|500||to||550 lbs.||91.50||to||- - -|
|600||to||650 lbs.||86.75||to||- - -|
|Medium & Large Frame 2||450||to||500 lbs.||84||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||80||to||- - -|
|Medium & Large Frame 2||450||to||500 lbs.||75||to||- - -|
Slaughter Cows, Boners 42 to 48
Light Weight 26 to 31
Bulls, Yield Grade 1 1000 to 2100 lbs. 52 to 57
Midwest Steers were $1 higher at 85 to - - -
Panhandle Steers were 50¢ to $1 lower at 83 to 83.50
|Oklahoma City Feeders
Cattle futures ended mostly lower. A lack of cash trade added to the negative undertone. A close below $85.35 would open the market to further losses. Resistance is at the recent high of $86.80.
Peoria: were steady at 40 to 42
St. Paul n/a at - - - to - - -
February hogs posted losses today. Yesterday’s high just above $68 could prove to be tough resistance. Recent weather woes will bring a backload of hogs to market next week, and that is adding pressure.
Poultry Date: January 08, 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. Demand was moderate to good entering the weekend. Supplies of all sizes were adequate to closely balanced. In production areas live supplies were moderate at mostly desirable weights.