(Feb) EAST AR: 861 to 879
(NC) Summ. 852 to 874
(Feb) MISS: 878 to 923 ; AR & White 863 to 873
(NC) Summ. 849 to 884
Ark. Processor Bids: (Feb) 876 to 884 (NC) 861 to 862
Memphis: (Feb) 918 1/2 to 931 1/2 (NC) 883 1/2 to 888 1/2
Riceland Foods: (Feb) Stuttgart 876 ; Pendleton 873 ; West Memphis 917
|Chicago Futures:||Mar||down||1/2||at||913 1/2|
|Sept||down||3 3/4||at||914 1/4|
|Nov||down||6 1/2||at||903 1/2|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans closed the day down slightly. Prices continue to hold up well given the crop reports that continue to flow out of South America. Most expect the USDA to revise South American production numbers higher on Tuesday. The large crop will likely put the breaks on U.S. soybean exports, which are already at 93% of the USDA projection for 2009/10.
Cash bid for February at Memphis 413 1/4 to 445 1/4;
|Bids to farmers at Local Elevators||441-453;|
|Chicago Futures:||Mar||down||2 1/2||at||473 1/4|
|July||down||1 3/4||at||500 1/2|
|Sept||down||1 1/4||at||516 3/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for February at Memphis 628 to - - -;
|Bids to farmers at River Elevators||486-561;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||February at Memphis 360 1/2 to 361 1/2;|
|New crop at Memphis 310 1/4 to 365 1/4;|
|Bids to farmers at River Elevators||326 to 352|
|Chicago Futures:||Mar||down||2 1/2||at||351 1/2|
|Sept||down||2 1/2||at||380 1/4|
|Today's Arkansas LDP rate for corn is:||0¢|
July wheat closed down today. Prices continue to be pressured by the large stocks both here in the U.S. and around the World. Its likely that next week’s USDA report will reduce total U.S. wheat consumption and push stocks-to-use over the 50% mark. Barring a catastrophic crop failure in a major producing country, it will take a while for the U.S. to work through its large stocks. Wheat prices will depend on outside markets to provide support. Support for July is now the contract low of $4.86.
Corn prices closed the day down slightly. Prices continue to be plagued by the large U.S. crop reported by the USDA in January. The February report will likely show a larger South American crop which will add further pressure to prices. Combine that with the strong dollar and falling oil prices, and there is little news to support stronger corn prices.
Cotton & Rice Date: February 05, 2010
|Spot Price, Grade 41 Staple 34:||Memphis down 212 at 6287|
|Greenwood down 212 at 6287|
|New York Futures:||Mar||down||237||at||6662|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton prices fell again today, giving back most of this weeks gains. A strong dollar combined with weak financial markets continues to plague the cotton market.
|Long Grain Cash Bid for||Feb||1308/cwt||to||- - -|
|- - -||- - -||to||- - -|
|Chicago Futures:||Mar||down||9 1/2||at||1408 1/2|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice futures were down again today. Weakness in other markets is pressuring rice prices lower. Rice exports continue to lag behind last years exports. While milled exports are slightly lower than larger than last year, they remain well below the 5-year average level. Support is located at the January low of $13.40.
Cattle & Hogs Date: February 05, 2010
As reported by Federal-State Market News, receipts were 4,465 head at sales in Arkansas this week. Compared with last week, feeder steers sold $1 to $5 lower .
|Medium & Large Frame 1||400||to||450 lbs.||114||to||- - -|
|500||to||550 lbs.||105||to||- - -|
|600||to||650 lbs.||96||to||- - -|
|Medium & Large Frame 2||450||to||500 lbs.||100||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||91||to||- - -|
|Medium & Large Frame 2||450||to||500 lbs.||85||to||- - -|
Slaughter Cows, Boners 47 to 53
Light Weight 33 to 38
Bulls, Yield Grade 1 1000 to 2100 lbs. 56 to 63
Midwest Steers were steady at 84 to - - -
Panhandle Steers were steady to $1 at 84 to 85
|Oklahoma City Feeders
|550||to||600 lbs.||104||to||- - -|
Cattle futures were up slightly. Strengthening cash prices at local markets combined with poor weather in the Midwest are supporting cattle futures.
Peoria: were steady at 39 to 41
St. Paul n/a at - - - to - - -
Hogs ended mixed. While cutout prices remain strong pork demand continues to be sluggish.
Poultry Date: February 05, 2010
|New York:||Ex. Lg. 123-127; Lg. 121-125; Med. 105-109;|
|Chicago:||Ex. Lg. 129-137; Lg. 127-135; Med. 98-106;|
Eastern Region Turkeys
U.S. Grade A
The market tone was mostly steady. Demand entering the weekend was fair to moderate with trading usually limited to regular commitments. Supplies of all sizes were moderate to satisfy current trade needs. In production areas live supplies were moderate at mostly desirable weights.