(Feb) EAST AR: 897 to 934
(NC) Summ. 875 to 897
(Feb) MISS: 914 to 967 ; AR & White 899 to 909
(NC) Summ. 872 to 907
Ark. Processor Bids: (Feb) 908 to 917 (NC) 882 to 885
Memphis: (Feb) 942 1/2 to 976 1/2 (NC) 907 1/4 to 912 1/4
Riceland Foods: (Feb) Stuttgart 917 ; Pendleton 910 ; West Memphis 953
|Chicago Futures:||Mar||down||9||at||952 1/2|
|May||down||9 1/2||at||959 1/2|
|July||down||9 3/4||at||965 1/2|
|Sept||down||9 1/4||at||942 3/4|
|Nov||down||8 1/2||at||927 1/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans reversed midday gains to close lower. Funds were early buyers but momentum was not sustained. Inability to hold here could signal near term weakness.
Cash bid for February at Memphis 451 3/4 to 478 3/4;
|Bids to farmers at Local Elevators||463-480;|
|Chicago Futures:||Mar||down||9 1/2||at||491 3/4|
|May||down||9 1/2||at||505 3/4|
|July||down||9 1/2||at||518 1/4|
|Sept||down||9 1/2||at||533 3/4|
|Dec||down||9 3/4||at||558 1/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for February at Memphis 648 to - - -;
|Bids to farmers at River Elevators||516-591;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||February at Memphis 379 3/4 to - - -;|
|New crop at Memphis 376 1/2 to - - -;|
|Bids to farmers at River Elevators||347 to 375|
|Chicago Futures:||Mar||down||3 3/4||at||367 3/4|
|Sept||down||4 1/2||at||389 1/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat gave back yesterday’s gains. The dollar was a little lower today. The fundamentals in this market remain quite negative. India’s announcement that it has wheat for export is just another indication that there is plenty of wheat out there for the time being.
Corn failed to follow through on yesterday's gains. The market may be in a sideways mode until there is a better handle on domestic use. Demand appears strong for both feed and ethanol.
Cotton & Rice Date: February 23, 2010
|Spot Price, Grade 41 Staple 34:||Memphis up 7 at 7527|
|Greenwood up 7 at 7527|
|New York Futures:||Mar||down||74||at||8000|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton closed mixed with March lower. The spread between old and new crop narrowed after widening to as much as 800 points. Improving world demand has pushed old crop above 80 cents.
|Long Grain Cash Bid for||Feb||1274/cwt||to||- - -|
|- - -||- - -||to||- - -|
|Chicago Futures:||Mar||up||14 1/2||at||1364 1/2|
|July||up||15 1/2||at||1427 1/2|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice finally had a positive day. Early declines gave way to a firmer undertone. Upside potential could be limited near term. U.S. values have been pressured by a weaker world market undertone.
Cattle & Hogs Date: February 23, 2010
As reported by Federal-State Market News, receipts were 1439 head at sales in Heber Springs and Fort Smith. Compared with last week, feeder steers were $3 to $6 higher .
|Medium & Large Frame 1||400||to||450 lbs.||120.25||to||- - -|
|500||to||550 lbs.||114.75||to||- - -|
|600||to||650 lbs.||106||to||- - -|
|Medium & Large Frame 2||450||to||500 lbs.||112.25||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||96.50||to||- - -|
|Medium & Large Frame 2||500||to||550 lbs.||92.50||to||- - -|
Slaughter Cows, Boners 47 to 55
Light Weight 30 to 34
Bulls, Yield Grade 1 1000 to 2100 lbs. 60 to 68
Midwest Steers were $1 lower to $4 higher at 91 to 92
Panhandle Steers were 50¢ to $2.50 lower at 92 to - - -
|Oklahoma City Feeders
The cattle market had become overbought in recent weeks and due a correction. Strong cash fundamentals are supportive. Friday’s high of $93.52 ½ is the first resistance for April, while support is the chart gap between $92.60 and $92.20.
Peoria: were steady at 44 to 46
St. Paul n/a at - - - to - - -
Tight hog supplies and recent gains in product values are providing support for hog futures.
Poultry Date: February 23, 2010
|New York:||Ex. Lg. 109-113; Lg. 107-111; Med. 95-99;|
|Chicago:||Ex. Lg. 98-106; Lg. 96-104; Med. 86-94;|
Eastern Region Turkeys
U.S. Grade A
The market tone was steady. Demand was fair to moderate with limited trading approaching end of the month business. Supplies were at least adequate to satisfy current trade needs. In production areas live supplies were moderate at mostly desirable weights.