Please note Turkey prices are now a USDA National quote. The regional quotation is discontinued.
(Jan) EAST AR: 1339 to 1375
(NC) Summ. 1238 to 1268
(Jan) MISS: 1376 to 1380 ; AR & White 1343 to 1359
(NC) Summ. 1249 to 1285
Ark. Processor Bids: (Jan) 1355 to 1355 (NC) 1268 to 1271
Memphis: (Jan) 1381 1/2 to 1385 1/2 (NC) 1283 1/2 to 1289 1/2
Riceland Foods: (Jan) Stuttgart 1355 ; Pendleton 1375 ; West Memphis 1380
|Chicago Futures:||Mar||down||9 1/2||at||1369 1/2|
|July||down||10 1/2||at||1379 3/4|
|Nov||down||16 3/4||at||1277 1/2|
|Jan '12||down||16 1/2||at||1281 1/2|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans extended yesterday’s declines as funds continue to balance accounts. Fundamentals, particularly in Argentina, bear watching. Some dry areas are forecast to see rain this week, while temperatures moderate. A private market analyst has cut his projected Argentine soybean crop to just 45 million metric tons. That is down from the 2010 crop of 54 million metric tons. March futures fell near support at $13.55, the November report high, before retracing a portion of today’s decline. Below that is trendline support around $13 to $13.25. November tested support just below $12.75, dropping below that level before firming late in the session. The next major support is just above $12.
Cash bid for January at Memphis 774 1/4 to 784 1/4;
|Bids to farmers at Local Elevators||769-774;|
|Chicago Futures:||Mar||down||16 1/4||at||789 1/4|
|May||down||14 1/4||at||816 1/4|
|Sept||down||11 3/4||at||841 1/4|
|Dec '12||down||9 3/4||at||855|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for January at Memphis 1051 to 1069;
|Bids to farmers at River Elevators||984-1045;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||January at Memphis 602 1/2 to 603 1/2;|
|New Crop at Memphis 561 to - - -;|
|Bids to farmers at River Elevators||585 to 604|
|Chicago Futures:||May||down||12||at||608 1/2|
|Mar||down||11 3/4||at||616 3/4|
|Dec '11||down||9||at||543 1/2|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat posted double digit losses today. Nevertheless, tight stocks of food grade wheat are expected to keep the market firm in the new year.
March corn fell through support at the old November high of $6.17 ¼ and closed technically weak. The next support is around $5.98. Fundamentally, the outlook for the Argentina crop appears to be more troublesome than soybeans, since much of the crop is near pollination. Fund selling could push the market lower, if it continues.
Cotton & Rice Date: January 4, 2011
|Spot Price, Grade 41 Staple 34:||Memphis up 158 at 137.28|
|Greenwood up 158 at 137.28|
|New York Futures:||Mar||up||158||at||14378|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton closed mixed with new crop contracts lower. Given the overall weakness in grains, the positive close by old crop cotton was fairly strong. Continued strong export demand and a very tight stocks situation should limit downside movement in the near term.
|Long Grain Cash Bid for||Jan||1174/cwt||to||- - -|
|April/May||1218/cwt||to||- - -|
|Chicago Futures:||Mar||down||34||at||1414 1/2|
|July||down||32 1/2||at||1470 1/2|
|Nov||down||22 1/2||at||1497 1/2|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice failed to follow-through after closing above trendline resistance yesterday. Fund balancing and general weakness in other grains contributed to the strong downturn. Last week’s turn around point, $13.35, should offer good support; if not there, then the previous low of $13.25.
Cattle & Hogs Date: January 4, 2011
As reported by Federal-State Market News, receipts were 975 head at sales in Ash Flat and Springdale. Compared with last week, feeder steers have no trend, sales closed for holidays .
|Medium & Large Frame 1||400||to||450 lbs.||137.50||to||- - -|
|500||to||550 lbs.||126.50||to||- - -|
|600||to||650 lbs.||120.50||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||123.50||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||112.50||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||108.75||to||- - -|
Slaughter Cows, Boners 57.00 to 61.00
Light Weight 36.00 to 44.00
Bulls, Yield Grade 1 1000 to 2100 lbs. 66.00 to 74.00
Midwest Steers were at 105.50 to - - -
Panhandle Steers were at 106.50 to - - -
|Oklahoma City Feeders
Cattle futures were lower today on a wave of speculative selling that hit most commodities today. A stronger dollar was also a factor.
Peoria: were $3 lower to $1 higher at 46.00 to 48.00
St. Paul NA at - - - to - - -
Hog futures were lower on speculative selling and a downturn in cash hog prices. A 10 percent increase in pork exports is projected by USDA and should limit downside pressure in early 2011.
Poultry Date: January 4, 2011
|New York:||Ex. Lg. 126-130; Lg. 124-128; Med. 92-96;|
|Chicago:||Ex. Lg. 123-131; Lg. 121-129; Med. 82-90;|
U.S. Grade A
Whole broiler/fryers prices continue to trend steady. Offerings are moderate with trading usually limited to regular commitments. Demand is light to moderate to satisfy current trade needs. Market activity is slow to moderate. In production areas, live supplies are moderate at mostly desirable weights.