(Jan) EAST AR: 939 to 953
(NC) Summ. 857 to 912
(Jan) MISS: 953 to 997 ; AR & White 938 to 952
(NC) Summ. 890 to 922
Ark. Processor Bids: (Jan) 945 to 956 (NC) 882 to 900
Memphis: (Jan) 986 to 996 (NC) 922 1/4 to - - -
Riceland Foods: (Jan) Stuttgart 956 ; Pendleton 953 ; West Memphis 997
|May||down||10 1/2||at||980 1/4|
|July||down||11 1/2||at||984 1/2|
|Sept||down||14 3/4||at||958 1/4|
|Nov||down||17 1/4||at||942 1/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybean futures were under renewed selling pressure. The long-only index funds are still readjusting positions after the surprising production report this week, and that pushed futures lower. March is still holding above Tuesday’s low of $9.70, so that is a good sign.
Cash bid for January at Memphis 450 to 480;
|Bids to farmers at Local Elevators||475-482;|
|Chicago Futures:||Mar||down||17 3/4||at||510|
|May||down||17 1/4||at||523 1/2|
|July||down||16 3/4||at||534 3/4|
|Dec||down||15 3/4||at||574 1/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for January at Memphis 663 to - - -;
|Bids to farmers at River Elevators||521-596;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||January at Memphis 369 1/2 to 372 1/2;|
|New crop at Memphis 329 to 384;|
|Bids to farmers at River Elevators||343 to 364|
|Chicago Futures:||Mar||down||9 1/2||at||371 1/2|
|May||down||9 1/4||at||382 1/2|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat futures gapped lower, and July could head for a retest of support around $5.30. The gap left Tuesday in reaction to the supply/demand report between $5.90 ¾ and $5.60 ¼ could prove to be tough resistance despite the smallest winter wheat seedings in nearly 100 years. Why? Because demand for wheat is terrible. USDA increased the carryover estimate to 976 million bushels despite a larger than expected cut in production.
Corn futures were lower again today. March was lower, but held above support at the chart gap between $3.67 and $3.62 left in October. Even though approximately a half a billion bushels of corn remain in the field, USDA raised their harvested acreage estimate 300,000 acres and their yield estimate to 165.2 bushels per acre—the net result being an increase of 230 million bushels in the production estimate. USDA did say that revisions to the estimates could come in March, despite the fact that this is the annual report.
Cotton & Rice Date: January 15, 2010
|Spot Price, Grade 41 Staple 34:||Memphis down 83 at 6808|
|Greenwood down 83 at 6808|
|New York Futures:||Mar||down||83||at||7208|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton futures saw renewed weakness despite the USDA reporting the highest export sales total for the marketing year. 437,000 running bales of old and new crop cotton were sold to foreign customers this week. March has support at the recent low of 72.43 cents.
|Long Grain Cash Bid for||Jan/Feb||1267/cwt||to||- - -|
|- - -||- - -||to||- - -|
|Chicago Futures:||Mar||down||6||at||1397 1/2|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice ended the week on a down note. USDA raised their production estimate 1 percent to 220 million cwt. Average yield, at 7,085 lbs. per acre, was up 47 lbs. from the previous estimate and 239 lbs. from 2008. Probably impacting the market more, though, was the quarterly stocks report. Rough rice stocks were up 13 percent from a year ago and milled rice stocks were up 8%. The majority of the increase is in medium grain, however, so losses in Chicago are probably overdone. March is hovering around previous support at $14.
Cattle & Hogs Date: January 15, 2010
As reported by Federal-State Market News, receipts were 9,760 head at sales in Arkansas this week. Compared with last week, feeder steers sold mostly $5 to $8 higher .
|Medium & Large Frame 1||400||to||450 lbs.||116||to||- - -|
|500||to||550 lbs.||104||to||- - -|
|600||to||650 lbs.||96||to||- - -|
|Medium & Large Frame 2||450||to||500 lbs.||106||to||- -|
|Medium & Large Frame 1||500||to||550 lbs.||90||to||- - -|
|Medium & Large Frame 2||450||to||500 lbs.||86||to||- - -|
Slaughter Cows, Boners 43 to 49
Light Weight 28 to 38
Bulls, Yield Grade 1 1000 to 2100 lbs. 55 to 63
Midwest Steers n/a at - - - to - -
Panhandle Steers n/a at - - - to - - -
|Oklahoma City Feeders
Cattle futures were mixed. Recent big gains in hog futures were supportive. Nearby February gapped above resistance at $86.80, with additional resistance seen just above $88.
Peoria: were steady at 39 to 41
St. Paul n/a at - - - to - - -
February hogs set a new high for the move. Stronger than expected cash hog and pork prices were supportive.
Poultry Date: January 15, 2010
|New York:||Ex. Lg. 127-131; Lg. 125-129; Med. 94-98;|
|Chicago:||Ex. Lg. 108-116; Lg. 106-114; Med. 71-79;|
Eastern Region Turkeys
U.S. Grade A
The market tone was steady to fully steady. Demand entering the weekend was mostly moderate. Supplies of all sizes were sufficient to satisfy current trade needs. In production areas live supplies were moderate at mostly desirable weights.