(Jan) EAST AR: 917 to 931
(NC) Summ. 881 to 903
(Jan) MISS: 928 to 975 ; AR & White 913 to 927
(NC) Summ. 883 to 913
Ark. Processor Bids: (Jan) 923 to 934 (NC) 890 to 891
Memphis: (Jan) 962 1/2 to 965 1/2 (NC) 915 1/4 to - - -
Riceland Foods: (Jan/Feb) Stuttgart 934 ; Pendleton 931 ; West Memphis 975
|Chicago Futures:||Mar||down||2 1/2||at||951 1/2|
|May||down||1 3/4||at||959 1/4|
|July||down||1 1/4||at||964 3/4|
|Sept||down||1 3/4||at||944 1/2|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans ended lower again today. Last week’s report continues to loom over the market and a big improvement in the dollar has simply kept everything in a negative mode. Funds have assessed their strategies and many have abandoned their positions. March futures have no chart support above the summer/fall low at $8.88 now. New crop November held trendline support at $9.22, but could be pushed to the September low of $8.78 if the dollar continues to strengthen.
Cash bid for January at Memphis 438 1/2 to 468 1/2;
|Bids to farmers at Local Elevators||464-476;|
|Chicago Futures:||Mar||down||1||at||498 1/2|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for January at Memphis 651 to - - -;
|Bids to farmers at River Elevators||511-586;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||January at Memphis 362 3/4 to - - -;|
|New crop at Memphis 321 3/4 to 379 3/4;|
|Bids to farmers at River Elevators||338 to 359|
|Chicago Futures:||Mar||down||7 1/4||at||364 3/4|
|May||down||7 1/4||at||375 1/2|
|Sept||down||7 1/4||at||391 3/4|
|Dec||down||8 1/4||at||397 1/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat futures also attempted to rebound a bit today, but buying interest was limited. We planted the smallest winter wheat crop in nearly 100 years, but demand is so poor, the market didn’t need any more wheat. Inability to hold this level could see a move toward the July contract low of $4.83 ¾ .
Corn was lower again today. The production report continues to be the focus of this market, and the higher dollar was also a factor today. Talk about plantings reaching 90 million acres will keep pressure on the market. There is a little over 6 million acres less wheat this year and much of that could end up in corn with new crop futures holding near $4.
Cotton & Rice Date: January 22, 2010
|Spot Price, Grade 41 Staple 34:||Memphis down 78 at 6707|
|Greenwood down 78 at 6707|
|New York Futures:||Mar||down||78||at||7107|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Weakness continued today in cotton. March violated trendline support at 72 cents earlier this week. This suggests a possible move to downside objectives near 70 and then 68 cents. Prospects of increased 2010 plantings are pushing new crop December lower. December could possibly test support at 71.5 cents.
|Long Grain Cash Bid for||Jan/Feb||1317/cwt||to||- - -|
|- - -||- - -||to||- - -|
|May||up||28 1/2||at||1446 1/2|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice was the exception, charting a powerful recovery today. Recent losses were potentially overdone thanks to carryover weakness from other commodities. Upside potential could be limited though until U.S. export sales increase. Last week’s report added a little rice to the production number but ending stocks were virtually unchanged as a result of increased export projections.
Cattle & Hogs Date: January 22, 2010
As reported by Federal-State Market News, receipts were 12,466 head at sales in Arkansas this week. Compared with last week, feeder steers sold mostly steady, heifers $3 to $8 higher .
|Medium & Large Frame 1||400||to||450 lbs.||116||to||- - -|
|500||to||550 lbs.||104.50||to||- - -|
|600||to||650 lbs.||95.50||to||- - -|
|Medium & Large Frame 2||450||to||500 lbs.||106.50||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||93.25||to||- - -|
|Medium & Large Frame 2||450||to||500 lbs.||92.75||to||- - -|
Slaughter Cows, Boners 43 to 49
Light Weight 28 to 38
Bulls, Yield Grade 1 1000 to 2100 lbs. 54 to 60
Midwest Steers were steady to $1 lower at 85 to - - -
Panhandle Steers were $1 higher at 86 to - - -
|Oklahoma City Feeders
Cattle futures were mostly a bit higher. A surge in the value of the dollar was seen as an obstacle for meat exports and kept a lid on prices. Nearby February has resistance just above $88.
Peoria: were steady at 39 to 41
St. Paul n/a at - - - to - - -
Hogs were mostly lower again today. The market was technically overbought and is trading approximately $3.50 premium to cash prices, so a short-term correction was expected. A strong move in the dollar was seen as negative for pork exports.
Poultry Date: January 22, 2010
|New York:||Ex. Lg. 136-140; Lg. 134-138; Med. 106-110;|
|Chicago:||Ex. Lg. 115-123; Lg. 113-121; Med. 80-88;|
Eastern Region Turkeys
U.S. Grade A
The market tone was steady. Demand entering the weekend was fair to moderate with trading usually limited to regular commitments. Supplies of all sizes were sufficient to satisfy current trade needs. In production areas live supplies were moderate at mostly desirable weights.