(Jan) EAST AR: 976 to 990
(NC) Summ. 905 to 955
(Jan) MISS: 993 to 1034 ; AR & White 978 to 992
(NC) Summ. 935 to 965
Ark. Processor Bids: (Jan) 982 to 993 (NC) 930 to 947
Memphis: (Jan) 1030 1/2 to 1031 1/2 (NC) 970 1/4 to - - -
Riceland Foods: (Jan) Stuttgart 993 ; Pendleton 990 ; West Memphis 1034
|Chicago Futures:||Mar||down||11 1/2||at||1010 1/2|
|May||down||10 1/2||at||1017 1/4|
|July||down||9 1/2||at||1022 3/4|
|Nov||down||8 3/4||at||990 1/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans turned lower today, despite weakness in the dollar. The charts have taken on a bearish appearance, as an outside week down was charted last week. March futures have now violated trendline support around $10.13, signaling further losses are possible. The January crop report, to be released tomorrow, will give us the final USDA production estimate. The average trade guess shows ending stocks declining thanks to strong exports and domestic use, despite larger production.
Cash bid for January at Memphis 512 1/2 to 541 1/2;
|Bids to farmers at Local Elevators||535-542;|
|Chicago Futures:||Mar||up||4||at||572 1/2|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for January at Memphis 754 to - - -;
|Bids to farmers at River Elevators||613-688;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||January at Memphis 418 1/2 to - - -;|
|New crop at Memphis 375 to 435;|
|Bids to farmers at River Elevators||390 to 411|
|Chicago Futures:||Mar||down||1/2||at||422 1/2|
|Dec||down||1 1/2||at||447 1/2|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat posted 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. Weakness in the dollar helped with that today, though.
Corn was a bit lower, failing to follow through on last week’s strength. The trade is expecting to see 100 million bushels cut from USDA’s production estimate in tomorrow’s report. Last week’s high of $4.26 is the first level of resistance for March.
Cotton & Rice Date: January 11, 2010
|Spot Price, Grade 41 Staple 34:||Memphis up 180 at 7024|
|Greenwood up 180 at 7024|
|New York Futures:||Mar||up||180||at||7424|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton posted sharp gains today on position evening ahead of the production and supply/demand reports that will be released tomorrow. News of fresh export sales also gave the market a boost. Long term bigger U.S. plantings will be needed as stocks worldwide continue to tighten.
|Long Grain Cash Bid for||Jan/Feb||1351/cwt||to||- - -|
|- - -||- - -||to||- - -|
|Chicago Futures:||Mar||down||14 1/2||at||1481|
|- - -||- - -||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 11, 2010
As reported by Federal-State Market News, receipts were 399 head at sales in Ash Flat. Compared with last week, feeder steers n/a .
|Medium & Large Frame 1||400||to||450 lbs.||105||to||- - -|
|- - -||to||- - - lbs.||- - -||to||- - -|
|- - -||to||- - - lbs.||- - -||to||- --|
|Medium & Large Frame 2||- - -||to||- - - lbs.||- - -||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||81.25||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||80.75||to||- - -|
Slaughter Cows, Boners 41 to 46
Light Weight - - - to - - -
Bulls, Yield Grade 1 1000 to 2100 lbs. 51 to 54
Midwest Steers were $1.50 to $2 higher at 83 to 86.50
Panhandle Steers were $1.50 to $2.50 higher at 85 to 85.50
|Oklahoma City Feeders
|500||to||600 lbs.||98.50||to||- - -|
Cattle futures ended lower. The weather is warming up and that will be less stressful on cattle and will potentially bring a backlog of animals to market. February had violated the recent uptrend, but found support at $85. Key resistance is at the recent high at $86.80.
Peoria: were steady at 40 to 42
St. Paul n/a at - - - to - - -
Hog futures were also lower. Last week’s high just above $68 could prove to be tough resistance. Recent weather woes will bring a backload of hogs to market this week.
Poultry Date: January 11, 2010
|New York:||Ex. Lg. 118-122; Lg. 116-120; Med. 87-91;|
|Chicago:||Ex. Lg. 108-116; Lg. 106-114; Med. 71-79;|
Eastern Region Turkeys
U.S. Grade A
The market tone was fully steady to firm. Demand was light to fairly good following the weekend. Supplies of all sizes were sufficient to satisfy current trade needs. In production areas live supplies were moderate at mostly desirable weights.