(Jan) EAST AR: 908 to 917
(NC) Summ. 877 to 899
(Jan) MISS: 922 to 961 ; AR & White 907 to 917
(NC) Summ. 877 to 909
Ark. Processor Bids: (Jan) 918 to 920 (NC) 886 to 887
Memphis: (Jan) 952 1/2 to 961 1/2 (NC) 911 1/4 to - - -
Riceland Foods: (Jan/Feb) Stuttgart 920 ; Pendleton 917 ; West Memphis 961
|Chicago Futures:||Mar||up||7||at||947 1/2|
|Sept||up||4 1/2||at||939 1/2|
|Nov||up||3 3/4||at||929 1/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans reversed yesterday’s losses to close higher. Strong demand is keeping the market from extending recent declines. With a big South American crop in the making, there is concern that China will cancel some U.S. sales. At this point, shipments against sales are moving at a good pace and concern about cancellations could be misplaced. Technically, beans are oversold and due a rally. November held key trendline support around 9.20 to 9.25. A close below that would signal further declines.
Cash bid for January at Memphis 434 to 464;
|Bids to farmers at Local Elevators||460-472;|
|Chicago Futures:||Mar||down||4 1/4||at||494|
|May||down||4 1/4||at||507 3/4|
|July||down||3 3/4||at||519 3/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for January at Memphis 647 to - - -;
|Bids to farmers at River Elevators||505-580;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||January at Memphis 360 1/4 to 362 1/4;|
|New crop at Memphis 319 1/2 to 377 1/2;|
|Bids to farmers at River Elevators||335 to 356|
|Chicago Futures:||Mar||down||5 1/2||at||362 1/4|
|May||down||5 1/2||at||373 1/4|
|Dec||down||4 1/4||at||395 1/2|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat ended lower. Technically, wheat is oversold and due a rebound, but poor demand probably points to further declines. Any rebound will be limited and short lived, unless last week’s export sales become the norm instead of the exception. Recent weakness in the Euro makes wheat from the Black Sea region tough to compete with in the global marketplace.
Corn also reversed yesterday’s trade, closing lower. New crop September is trying to consolidate just below $4. Inability to hold here could see further declines with the next major support near $3.50. Recent declines may not stimulate much additional corn use, since ethanol and feed use appear to be near the maximum. Prospects of nearly 90 million acres being planted in 2010 are also pressuring the market.
Cotton & Rice Date: January 26, 2010
|Spot Price, Grade 41 Staple 34:||Memphis down 14 at 6582|
|Greenwood down 14 at 6582|
|New York Futures:||Mar||down||14||at||6982|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton was slightly lower again today as the market continued a downturn which carried old crop March below 70 cents and pushed December near the 71.5 cents level. Overall, world economic conditions remain a factor in a market that appears to have upside potential, particularly from current price levels. The current sell off could push March to 68 cents before we see a rebound, while December could drop as low as 70 cents.
|Long Grain Cash Bid for||Jan/Feb||1311/cwt||to||- - -|
|- - -||- - -||to||- - -|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice was virtually unchanged as the market is attempting to hold last week’s upturn. Those two days of gains took the market out of the oversold condition technically and leaves the trade looking at fundamentals. Longer term, the market will need to see more export sales and continued demand to hold current levels and provide an opportunity for the market to work higher.
Cattle & Hogs Date: January 26, 2010
As reported by Federal-State Market News, receipts were 1037 head at sales in Fort Smith and Heber Springs. Compared with last week, feeder steers sold firm to $3 higher, heifers weak to $3 lower .
|Medium & Large Frame 1||400||to||450 lbs.||119||to||- - -|
|500||to||550 lbs.||109.50||to||- - -|
|600||to||650 lbs.||99.25||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||112.50||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||90.25||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||87||to||- - -|
Slaughter Cows, Boners 43 to 48
Light Weight 29 to 32
Bulls, Yield Grade 1 1000 to 2100 lbs. - - - to - - -
Midwest Steers were steady to $1.50 lower at 84 to - - -
Panhandle Steers - - - at - - - to - - -
|Oklahoma City Feeders
Cattle futures were under pressure today from carryover weakness in hogs and general concerns about the economy. Last week’s trade indicates a temporary top has been made and February could trade back near $84 before stabilizing.
Peoria: were steady at 39 to 41
St. Paul n/a at - - - to - - -
Hog futures were weak and gapped lower. Cash markets were down as much as a dollar again today in reaction to Monday’s $2 drop in the composite pork cutout.
Poultry Date: January 26, 2010
|New York:||Ex. Lg. 136-140; Lg. 134-138; Med. 106-110;|
|Chicago:||Ex. Lg. 129-137; Lg. 127-135; Med. 98-106;|
Eastern Region Turkeys
U.S. Grade A
The market tone was steady. Retail and food service demand was fair to moderate with limited trading. Supplies were sufficient to satisfy current trade needs. In production areas live supplies were moderate at mostly desirable weights.