Arkansas Farm Bureau
Arkansas Farm Bureau
Grain & Soybean Date: January 6, 2011

Soybeans

Local Elevators:
(Jan) EAST AR:  1347 to 1383
(NC) Summ. 1246 to 1276
River Elevators:
(Jan) MISS: 1384 to 1393 ; AR & White 1351 to 1367
(NC) Summ. 1257 to 1293
Ark. Processor Bids: (Jan) 1363 to 1363  (NC) 1276 to 1279
Memphis:  (Jan) 1388 to - - - (NC)  1292 to 1296
Riceland Foods:  (Jan) Stuttgart 1363 ; Pendleton 1383 ; West Memphis 1393

Chicago Futures: Mar down 15 1/2 at  1378
  May  down  14  at  1386 1/2
  July down 12 3/4  at  1389 1/2
  Nov down 9 1/2  at  1286
  Jan '12 down 8 1/2  at  1290 1/2
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans continue to be volatile with yesterday’s gains trimmed in overnight trading. The day session continued weaker despite strong Asian soybean oil prices. That market has moved to the highest level in 2 ½ years. Funds remain an unknown with potential rebalancing of positions still ahead. Longer term 2011 acreage needs will likely limit downside.

Wheat
Cash bid for January at Memphis  774 to 784;
Bids to farmers at Local Elevators 770-775;
River Elevators 768-806;

Chicago Futures: Mar down  19 1/4  at  789 
  May down 18 3/4  at  816 1/4 
  July down  18  at  828 1/4 
  Sept down  17  at  845 
  Dec '11 down  15 1/4  at  860 3/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for January at Memphis  1039 to 1057;
Bids to farmers at River Elevators 971-1032;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for January at Memphis   588 to 597;
  New Crop at Memphis   560 1/4 to 563 1/4;
Bids to farmers at River Elevators  576 to 597

Chicago Futures: Mar down  17 1/4  at  602 
  May down  16 3/4  at  610 3/4 
  Sept down  12 1/4  at  575 1/4 
  Dec '11 down  8 1/4  at  550 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Volatility continued today in the wheat pit as prices can't seem to go the same direction two days in a row. Fund selling and continued improvement in the value of the dollar added pressure today. The weekly export total was within trade expectations, and even though it was a holiday week, it brings the yearly total to more than 62 percent higher than this time last year.

Corn was generally weaker in early trade with poor export demand weighing on the market. Several factors may yet play into the market, including crop conditions in Argentina, fund rebalancing, USDA crop report adjustments, and 2011 acreage needs. For now downside movement should be limited.



Cotton & Rice  Date: January 6, 2011


Cotton
Spot Price, Grade 41 Staple 34: Memphis down 398 at  13472
  Greenwood down  398 at 13472

New York Futures: Mar down  398  at  14122 
  May down  289  at  13722 
 July down  291  at  12825 
 Oct down  40  at  11160 
 Dec '11 up  95  at  10097 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton traded sharply higher overnight and into the day session before reversing and closing sharply lower. December futures extended the recent uptrend and moved to a new contract high. It would appear that the market feels like additional U.S. plantings will be needed in 2011. Economic conditions continue to improve worldwide and coupled with strong Chinese demand will create need for more cotton.

Rice
Long Grain Cash Bid for  Jan 1190/cwt  to  - - -
  April/May 1218/cwt  to  - - -

Chicago Futures: Mar down  18  at  1390 
 May down  18 1/2  at  1418 
 July down  17  at  1445 1/2 
 Sept down  20 1/2  at  1450 
 Nov down  20 1/2  at  1470 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice was weaker in early trading as the market followed other grains and soybeans. The international has softened slightly over the last month. U.S. milled values remain at a $100 to $125 premium to Asian offerings. Upside potential appears limited unless export opportunities improve.



Cattle & Hogs  Date: January 6, 2011

Cattle
As reported by Federal-State Market News, receipts were 3,946 head at sales in Charlotte, Ratcliff and Green Forest.  Compared with last week, feeder steers have no trend, sales closed last week for holidays .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 150.00 to - - -
  500 to 550 lbs. 131.50 to - - -
  600 to 650 lbs. 125.25 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 125.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 117.75 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 112.75 to - - -

Slaughter Cows, Boners 51.00   to   58.00
Light Weight 35.00 to 41.00
Bulls, Yield Grade   1-2   1000   to   2100 lbs.   61.00   to   68.50
Midwest Steers   were 50¢ higher   at   104.50   to   - - -
Panhandle Steers   - - -   at   - - -   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 135.00 to 143.00
  500 to 550 lbs. 126.00 to 136.00
Heifers 400 to 450 lbs. 120.00 to 131.00
  450 to 500 lbs. 120.00 to 130.00

Chicago Futures:
Live Cattle: Feb up 10 at 10672
  April up 25 at 11080
Feeders: April up 52 at 12382
  Aug up 62 at 12527

Cattle Comment
Cattle futures climbed higher today, but gains were limited by ideas that marketings will be more than ample in the near future.

Hogs
Peoria: were $1 lower to $3     higher   at   46.00   to   48.00

Chicago Futures: Feb up 175 at 7977
  April up 192 at 8410

Hogs Comment
Hog futures posted strong gains on active packer buying driving cash carcass prices higher. Optimism about the economy and a positive unemployment report were also factors.



Poultry  Date: January 6, 2011

Eggs
New York:  Ex. Lg. 105-109; Lg. 103-107; Med. 90-94;
Chicago:  Ex. Lg. 123-131; Lg. 121-129; Med. 82-90;

National Turkeys
Hens: 8-16 lbs 87.00
Toms: 16-24 lbs 87.00
 

Delmarva Broilers
U.S. Grade A
Prices continue to trend steady for whole broilers and fryers. Offerings are moderate. Retail and food service demand is light to moderate approaching the weekend. Market activity is slow to moderate. In production areas, live supplies are moderate at mostly desirable weights.