(Feb) EAST AR: 8.91 to 9.10
(NC) Summ. 8.70 to 8.92
(Feb) MISS: 9.07 to 9.55 ; AR & White 8.92 to 9.02
(NC) Summ. 8.67 to 9.02
Ark. Processor Bids: (Feb) 9.00 to 9.11 (NC) 8.77 to 8.80
Memphis: (Feb) 9.35 to 9.64 (NC) 9.00 to 9.07
Riceland Foods: (Feb) Stuttgart ; Pendleton ; West Memphis
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybean prices closed the day mixed. News the Chinese are again tightening money supplies added more bearish news on a commodity that is already plagued by a huge South American crop. Old crop March futures have retracement objectives of $9.72 and $9.92 but have to close above resistance around $9.60 first. November has resistance at $9.30 and $9.50.
Cash bid for February at Memphis 4.265 to 4.645;
|Bids to farmers at Local Elevators||4.58 - 4.66;|
|River Elevators||4.58 - 4.89;|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for February at Memphis 6.46 to 6.46;
|Bids to farmers at River Elevators||5.03 - 5.78;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||February at Memphis 3.665 to 3.685;|
|New crop at Memphis 3.2125 to 3.7625;|
|Bids to farmers at River Elevators||3.35 to 3.63|
|Today's Arkansas LDP rate for corn is:||0¢|
Corn prices closed the day down slightly. Last month USDA report continues to suppress corn prices due to large ending stocks. Next month’s resurvey could add some much needed bullish new if surveys show less bushels available. Talk is already starting on the 2010 crop and some groups estimate next year’s crop could be as high as 90 million acres, compared to 86.5 million acres in 2009. This would further depress prices as demand would not keep pace with supply. Wheat was under pressure today from carryover weakness in outside markets. Prices continue to be pressured by the large stocks both here in the U.S. and around the World. Wheat prices will depend on outside markets to provide support. Support for July is now the contract low of $4.86.
Cotton & Rice Date: February 12, 2010
|Spot Price, Grade 41 Staple 34:||Memphis up 159 at 70.41|
|Greenwood 149 at 70.41|
|New York Futures:||Mar||up||1.47||at||74.39|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton prices continue their run this week closing the day higher for the 5th straight day. This week’s increases have erased almost all of the loses experienced since the first of the year. For cotton prices to continue their run next week they will have to test resistance at around 75 cents. Tight stocks and strengthening exports continue to support prices.
|Long Grain Cash Bid for||Feb||to||- - -|
|- - -||- - -||to||- - -|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice prices fell slightly today but continue to trade in a very narrow range. Prices continue to try and move higher but are unable to sustain gains throughout the day. With 2010 production expected to increase producers should consider pricing some of next years crops. Resistance for the September contract starts at $13.95 and then $14.10.
Cattle & Hogs Date:
As reported by Federal-State Market News, receipts were 4,385 head at sales in Arkansas this week. Compared with last week, feeder steers sold firm to $5 higher .
|Medium & Large Frame 1||400||to||450 lbs.||114.25||to||- - -|
|500||to||550 lbs.||109.75||to||- - -|
|600||to||650 lbs.||104||to||- - -|
|Medium & Large Frame 2||450||to||500 lbs.||106.25||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||95.25||to||- - -|
|Medium & Large Frame 2||450||to||500 lbs.||93||to||- - -|
Slaughter Cows, Boners 49 to 55
Light Weight 37 to 44
Bulls, Yield Grade 1 1000 to 2100 lbs. 58 to 65
Midwest Steers were $3 to $4 higher at 89 to - - -
Panhandle Steers were $3 to $4.50 higher at 89 to 89.50
|Oklahoma City Feeders
Cattle futures ended lower today. The market reacted to sharply lower stock markets and a stronger dollar.
Peoria: were $1 lower to $3 higher at 42 to 44
St. Paul n/a at - - - to - - -
Hogs ended mixed. Pork demand is the key to this market, and there are concerns right now that harsh conditions in the Eastern US are hampering meat demand.
Poultry Date: February 12, 2010
|New York:||Ex. Lg. 111-115; Lg. 109-113; Med. 95-99;|
|Chicago:||Ex. Lg. 115-123; Lg. 113-121; Med. 96-104;|
Eastern Region Turkeys
U.S. Grade A
The market tone was fully steady to firm. Demand entering the weekend was fair to moderate with limited trading. Supplies of all sizes were light to moderate to satisfy current trade needs. Processing schedules were normal to reduced with some plants down due to winter storms. In production areas live supplies were moderate at mostly desirable weights.