(Jan) EAST AR: 1363 to 1399
(NC) Summ. 1256 to 1286
(Jan) MISS: 1400 to 1404 ; AR & White 1367 to 1383
(NC) Summ. 1267 to 1303
Ark. Processor Bids: (Jan) 1379 to 1379 (NC) 1286 to 1289
Memphis: (Jan) 1406 1/2 to 1409 1/2 (NC) 1301 1/2 to 1307 1/2
Riceland Foods: (Jan) Stuttgart 1379 ; Pendleton 1399 ; West Memphis 1404
|Chicago Futures:||Mar||up||24||at||1393 1/2|
|May||up||23 1/2||at||1400 1/2|
|July||up||22 1/2||at||1402 1/4|
|Jan '12||up||17 1/2||at||1299|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans retraced most of the new year’s decline as markets remain volatile. There are no fresh fundamentals to drive the market. In fact, rain and cooler temperatures in Argentina are the only new fundamentals. Obviously, the question is whether the market has accounted for tightening stocks. Next week’s report could help answer that question. Outside markets were mixed with crude oil, equities and the dollar all stronger.
Cash bid for January at Memphis 793 1/4 to 803 1/4;
|Bids to farmers at Local Elevators||788-793;|
|Chicago Futures:||Mar||up||19||at||808 1/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for January at Memphis 1070 to 1088;
|Bids to farmers at River Elevators||1002-1063;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||January at Memphis 613 1/4 to 614 1/4;|
|New Crop at Memphis 572 1/2 to - - -;|
|Bids to farmers at River Elevators||593 to 614|
|Chicago Futures:||Mar||up||10 3/4||at||619 1/4|
|May||up||10 3/4||at||627 1/2|
|Sept||up||11 1/2||at||587 1/2|
|Dec '11||up||14 3/4||at||558 1/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat gapped higher and regained all of yesterday’s losses. The western wheat exchanges are stronger than Chicago. The protective layer of snow covering wheat fields in the southern plains has now melted and left the crop vulnerable to winter kill if temperatures drop. Flooding in Australia has damaged the crop there, adding to worldwide supply-side concerns. July is trading just below the recent high of $8.56 ½.
Corn closed higher, reversing yesterday’s decline. However, the market is still below the end of year close. Looking ahead, the market may still need to pull acres to corn or vice versa. That will be a fundamental question over the next several months. March resistance stands at last week’s high of $6.34. December 2011 has resistance at the early November high near $5.66.
Cotton & Rice Date: January 5, 2011
|Spot Price, Grade 41 Staple 34:||Memphis up 142 at 13870|
|Greenwood up 142 at 13870|
|New York Futures:||Mar||up||142||at||14520|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton firmed with across the board gains. Old crop March remains under resistance at $1.48, while new crop December remains just under the recent high near $1.02. Continued strong export demand and a very tight stocks situation should limit downside movement in the near term.
|Long Grain Cash Bid for||Jan||1168/cwt||to||- - -|
|April/May||1218/cwt||to||- - -|
|Chicago Futures:||Mar||down||6 1/2||at||1408|
|May||down||6 1/2||at||1436 1/2|
|Sept||down||6 1/2||at||1470 1/2|
|Today's Arkansas LDP rate for long grain rice is||0|
|medium grain rice is||0|
Rice was slightly lower at the end of the session, but did retrace a portion of earlier declines. The international market remains a little subdued with prices slightly softer. U.S. offerings remain $100 to $125 above Asian offerings. 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 5, 2011
As reported by Federal-State Market News, receipts were 1,111 head at sales in Conway and Pocahontas. Compared with last week, feeder steers have no trend, sales closed last week for holidays .
|Medium & Large Frame 1||400||to||450 lbs.||138.50||to||- - -|
|500||to||550 lbs.||125.50||to||- - -|
|600||to||650 lbs.||115.00||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||120.50||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||109.50||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||104.50||to||- - -|
Slaughter Cows, Boners 55.00 to 62.00
Light Weight 39.00 to 44.00
Bulls, Yield Grade 1 1000 to 2000 lbs. 66.00 to 73.50
Midwest Steers were $1.50 lower at 104.00 to - - -
Panhandle Steers - - - at - - - to - - -
|Oklahoma City Feeders
Cattle futures recovered a bit from yesterday’s losses. February has found support at $106 for the time being. A drop below that level would signal a drop back near $103 is possible.
Peoria: were $3 lower to $1 higher at 45.00 to 47.00
Hog futures turned higher as well today. Speculative buying and a more optimistic employment report gave meat futures some support. February has established some support just above $77 for the time being.
Poultry Date: January 5, 2011
|New York:||Ex. Lg. 116-120; Lg. 114-118; Med. 92-96;|
|Chicago:||Ex. Lg. 123-131; Lg. 121-129; Med. 82-90;|
U.S. Grade A
Prices continue to trend steady for whole broiler/fryers. Offerings are moderate with trading usually limited to regular commitments. Retail and food service demand is light to moderate for mid-week business. Market activity is slow to moderate. In production areas, live supplies are moderate at mostly desirable weights.