(Mar) EAST AR: 900 to 918
(NC) Summ. 891 to 913
(Mar) MISS: 909 to 962 ; AR & White 894 to 904
(NC) Summ. 887 to 923
Ark. Processor Bids: (Mar) 908 to 920 (NC) 898 to 901
Memphis: (Mar) 942 1/2 to 974 1/2 (NC) 922 1/2 to - - -
Riceland Foods: (Mar) Stuttgart 920 ; Pendleton 913 ; West Memphis 956
|Chicago Futures:||May||up||1 1/2||at||962 1/2|
|Jul||up||1 1/2||at||970 1/2|
|Nov||up||1 1/2||at||942 1/2|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans traded to both sides of last Friday’s close before ending the day slightly higher. It appears the market has accounted for the big South American crop, at least for the time being. Long term that big crop and the potential for another big U.S. acreage could be enough to push the market lower. Crop planting problems could allow farmers another pricing opportunity, although upside would appear to be limited.
Cash bid for March at Memphis 449 1/2 to 478 1/2;
|Bids to farmers at Local Elevators||457-479;|
|Chicago Futures:||May||down||14 3/4||at||504 1/2|
|Jul||down||14 1/2||at||516 3/4|
|Sept||down||14 1/4||at||530 3/4|
|Mar||down||14 3/4||at||578 1/2|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 673 to - - -;
|Bids to farmers at River Elevators||521-596;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 381 3/4 to 384 3/4;|
|NC at Memphis 379 3/4 to 382 3/4;|
|Bids to farmers at River Elevators||350 to 378|
|Chicago Futures:||May||down||7 1/4||at||381 3/4|
|Sept||down||6 1/4||at||399 3/4|
|Dec||down||6 1/2||at||406 1/2|
|Mar||down||6 1/4||at||416 3/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat was under selling pressure early and quickly gave back most of Friday’s gains. A very competitive export situation and large world supplies continue to hamper upside potential.
Corn lost ground today and closed lower. Demand for corn remains a mixed bag. Strong domestic use, both feed and ethanol, seems to be offsetting a weak export trade. Strong ethanol use was anticipated, but poor quality seems to be resulting in greater quantities being used to meet needs. While we are not there yet planting delays could be seen for the third year in a row. Be prepared to use rallies over the next 90 days as pricing opportunities.
Cotton & Rice Date: March 1, 2010
|Spot Price, Grade 41 Staple 34:||Memphis up 83 at 7904|
|Greenwood up 83 at 7904|
|New York Futures:||May||up||83||at||8329|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton continues to work higher as export demand improves. Old crop contracts have moved well above 80 cents and some reports suggest a dollar per pound could be seen. Larger U.S. plantings are tempering new crop with a move to the mid 70’s in recent days. The recent December high of $78.25 may be stiff resistance, but any crop delays this year could put the market at higher levels.
|Long Grain Cash Bid for||Mar/Apr||1275/cwt||to||- - -|
|- - -||- - -||to||- - -|
|Jul||up||8 1/2||at||1412 1/2|
|Nov||up||5 1/2||at||1354 1/2|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice made a little rebound today, keeping old and new crop contracts above recent support around 13.25. A weaker undertone in the international market and prospects of increased 2010 U.S. plantings are weighing on the market. Futures remain in a down trend but could make a rebound and retrace a portion of recent declines ahead of planting time.
Cattle & Hogs Date: March 1, 2010
As reported by Federal-State Market News, receipts were 4233 head at sales in Ash Flat, Springdale & Ola. Compared with last week, feeder steers sold steady to $2 lower .
|Medium & Large Frame 1||400||to||450 lbs.||120.25||to||- - -|
|500||to||550 lbs.||112.50||to||- - -|
|600||to||650 lbs.||104||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||109||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||103.50||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||97.75||to||- - -|
Slaughter Cows, Boners 47 to 53
Light Weight 32 to 38
Bulls, Yield Grade 1 1000 to 2100 lbs. 58 to 65
Midwest Steers were at 88 to 93
Panhandle Steers were at 91 to 92
|Oklahoma City Feeders
Cattle futures closed mixed. Fear that consumer demand for beef will wane with cutout values above $1.50 per pound pressured the nearby contracts. Longer term fewer cattle on feed should keep the market firm in the near term. Feeder cattle are testing recent resistance. A May close above $1.05 would be positive.
Peoria: were $1 lower to $3 higher at 46 to 48
St. Paul - - - at - - - to - - -
Continued improvement in hog cutout values suggests strong demand is pushing futures toward new highs. Support is being provided by lower slaughter numbers.
Poultry Date: March 1, 2010
|New York:||Ex. Lg. 114-118; Lg. 112-116; Med. 98-102;|
|Chicago:||Ex. Lg. 102-110; Lg. 100-108; Med. 89-97;|
Eastern Region Turkeys
U.S. Grade A
The market tone was steady. Demand following the weekend was fair to moderate for first of the month business. Supplies of all sizes were at least adequate to satisfy current trade needs. In production areas live supplies were moderate at mostly desirable weights.