(Feb) EAST AR: 898 to 917
(NC) Summ. 880 to 902
(Feb) MISS: 913 to 961 ; AR & White 898 to 908
(NC) Summ. 877 to 912
Ark. Processor Bids: (Feb) 907 to 918 (NC) 887 to 890
Memphis: (Feb) 941 1/2 to 968 1/2 (NC) 911 3/4 to 916 3/4
Riceland Foods: (Feb) Stuttgart 918 ; Pendleton 911 ; West Memphis 954
|Chicago Futures:||Mar||down||14||at||951 1/2|
|Sept||down||9 3/4||at||946 3/4|
|Nov||down||9 1/4||at||931 3/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans lost a good portion of yesterday's gains. A stronger dollar contributed to the downturn, as did yesterday's big gains. The market will continue to be influenced by outside markets as portfolio managers adjust their investment mix. Rebounds remain pricing opportunities.
Cash bid for February at Memphis 434 3/4 to 473 3/4;
|Bids to farmers at Local Elevators||462-474;|
|Chicago Futures:||Mar||down||10 1/4||at||494 3/4|
|May||down||10 1/4||at||509 1/4|
|Sept||down||10 1/2||at||537 3/4|
|Dec||down||9 3/4||at||562 1/2|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for February at Memphis 634 to - - -;
|Bids to farmers at River Elevators||502-577;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||February at Memphis 367 to 370;|
|New crop at Memphis 370 to 378;|
|Bids to farmers at River Elevators||334 to 362|
|Chicago Futures:||Mar||down||7 1/4||at||360|
|May||down||7 1/4||at||371 3/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat futures gave back a portion of yesterday's gains but didn't completely close the gap left on the charts. Yesterday's weakness in the value of the dollar was a big factor in the move, and today the dollar regained some strength. The winter wheat crop ratings are so-so, and when combined with the already 14% smaller acreage, have given the market a little support as concerns about global demand for U.S. wheat are eased just a bit.
Corn was lower as the trade has growing concern about the quality of the 09 crop. Prospects of 90 million acres being planted to corn in 2010 is also pressuring new crop contracts. Upside potential may be limited.
Cotton & Rice Date: February 17, 2010
|Spot Price, Grade 41 Staple 34:||Memphis down 15 at 7161|
|Greenwood down 15 at 7161|
|New York Futures:||Mar||down||17||at||7517|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton was lower for the first time in over a week, as the market saw some profit taking. Increased export demand has been a factor in the bounce over the last two weeks. USDA added a million bales to their export projection in this month's report. Reports of increased 2010 plantings could limit upside potential.
|Long Grain Cash Bid for||Feb||1266/cwt||to||- - -|
|- - -||- - -||to||- - -|
|July||down||48 1/2||at||1425 1/2|
|- - -||unchanged||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice was sharply lower as yesterday's losses were a precursor to today's downturn. International markets continue to weaken with Vietnam selling rice below their targeted price. Thailand appears to be rethinking their position with other Asian origins selling well below their offering levels. New export demand is needed to give the U.S. market a boost.
Cattle & Hogs Date: February 17, 2010
As reported by Federal-State Market News, receipts were 805 head at sales in Conway and Pocahontas. Compared with last week, feeder steers sold $8 to $12 higher .
|Medium & Large Frame 1||400||to||450 lbs.||117.75||to||- - -|
|500||to||550 lbs.||107||to||- - -|
|600||to||650 lbs.||100||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||103.75||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||95.50||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||95.50||to||- - -|
Slaughter Cows, Boners 48 to 55
Light Weight 30 to 34
Bulls, Yield Grade 1 1400 to 2300 lbs. 61.50 to 64.50
Midwest Steers were steady at 88 to 89
Panhandle Steers were steady at 88 to 89
|Oklahoma City Feeders
Cattle futures were mostly higher. Feeders were supported by lower corn prices and live futures were supported by stronger beef prices and expectations for higher cash cattle prices. Slow movement has limited the upside.
Peoria: were 50¢ lower to $2 higher at 45.50 to 46
St. Paul n/a at - - - to - - -
Hog futures were also higher. Firm wholesale pork prices and improved product movement were supportive.
Poultry Date: February 17, 2010
|New York:||Ex. Lg. 109-113; Lg. 107-111; Med. 95-99;|
|Chicago:||Ex. Lg. 100-108; Lg. 98-106; Med. 86-94;|
Eastern Region Turkeys
U.S. Grade A
The market tone was steady to fully steady. Demand was fair to moderate with limited trading for mid week business. Supplies were sufficient to satisfy current trade needs. In production areas live supplies were moderate at mostly desirable weights.