Arkansas Farm Bureau
Arkansas Farm Bureau
Grain & Soybean Date: January 7, 2011

Soybeans

Local Elevators:
(Jan) EAST AR:  1334 to 1370
(NC) Summ. 1242 to 1272
River Elevators:
(Jan) MISS: 1370 to 1380 ; AR & White 1337 to 1353
(NC) Summ. 1253 to 1289
Ark. Processor Bids: (Jan) 1350 to 1350  (NC) 1272 to 1275
Memphis:  (Jan) 1370 to 1373 (NC)  1287 3/4 to 1291 3/4
Riceland Foods:  (Jan) Stuttgart 1350 ; Pendleton 1370 ; West Memphis 1380

Chicago Futures: Mar down 13 at  1365
  May  down  12 3/4  at  1373 3/4
  July down 11 3/4  at  1377 3/4
  Nov down 4 1/4  at  1281 3/4
  Jan '12 down at  1285 1/2
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans were lower to end the week on a negative note. No big changes in numbers are expected in next week’s report, but there have been surprises in the last couple of reports. Fund rebalancing continues to be a part of recent activity. The question is whether the market has accounted for 2011 acreage needs and how much impact weather will have on Argentina’s crops.

Wheat
Cash bid for January at Memphis  759 to 769;
Bids to farmers at Local Elevators 763-768;
River Elevators 761-799;

Chicago Futures: Mar down  15  at  774 
  May down 14 1/2  at  801 3/4 
  July down  7 1/4  at  821 
  Sept down  at  838 
  Dec '11 down  8 3/4  at  852 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for January at Memphis  1027 to 1045;
Bids to farmers at River Elevators 959-1020;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for January at Memphis   581 to 583;
  New Crop at Memphis   554 1/2 to 557 1/2;
Bids to farmers at River Elevators  567 to 590

Chicago Futures: Mar down  at  595 
  May down  at  603 3/4 
  Sept down  5 3/4  at  569 1/2 
  Dec '11 down  at  542 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures posted losses. Fund selling and continued improvement in the value of the dollar added pressure today. Overall fundamentals remain positive, with the market concerned about having enough high-protein wheat.

Corn closed lower again today and has had a general negative tone for the first week of 2011. While some adjustments are expected in next week’s report, it appears that the market has already accounted for potential changes.



Cotton & Rice  Date: January 7, 2011


Cotton
Spot Price, Grade 41 Staple 34: Memphis down 62 at  134.10
  Greenwood down  62 at 134.10

New York Futures: Mar down  62  at  14060 
  May down  71  at  13651 
 July up  76  at  12901 
 Oct up  59  at  11219 
 Dec '11 down  133  at  9964 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was mostly lower following this week’s poor export report. A weak undertone in outside markets also weighed on the cotton trade. At this week’s belt-wide meeting there was general agreement that cotton plantings would be around 12.5 million acres. That may not satisfy the long term needs of China.

Rice
Long Grain Cash Bid for  Jan 1163/cwt  to  - - -
  April/May 1218/cwt  to  - - -

Chicago Futures: Mar down  27  at  1363 
 May down  27  at  1391 
 July down  28  at  1417 1/2 
 Sept down  24  at  1426 
 Nov down  19  at  1451 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice was lower again today. After breaking trendline resistance on Monday the market hasn’t been able to muster any follow-through. Four consecutive days of declines has March trading toward previous support at $13.25 to $13.33.



Cattle & Hogs  Date: January 7, 2011

Cattle
As reported by Federal-State Market News, receipts were 2,593 head at sales in Arkansas this week.  Compared with last week, feeder steers have no trend, sales closed last week for holidays .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 147.00 to - - -
  500 to 550 lbs. 131.00 to - - -
  600 to 650 lbs. 121.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 127.75 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 117.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 117.75 to - - -

Slaughter Cows, Boners 51.00   to   61.00
Light Weight 36.00 to 47.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   64.00   to   76.00
Midwest Steers   - - -   at   - - -   to   - - -
Panhandle Steers   - - -   at   - - -   to   - - -

Oklahoma City Feeders
Steers 550 to 600 lbs. 116.50 to 136.50
  600 to 650 lbs. 114.50 to 134.00
Heifers 550 to 600 lbs. 105.00 to 115.50
  600 to 650 lbs. 106.50 to 117.00

Chicago Futures:
Live Cattle: Feb down 35 at 10637
  April down 25 at 11055
Feeders: April down 62 at 12320
  Aug down 77 at 12450

Cattle Comment
Cattle futures ended lower. Recent strength in the dollar is pressuring prices, as are ideas marketings will be more than ample in the near future.

Hogs
Peoria: were $1 lower to $3     higher   at   47.00   to   49.00

Chicago Futures: Feb down 35 at 7942
  April down 5 at 8405

Hogs Comment
Hog futures ended mixed. Active packer buying has supported the market this week. Optimism about the economy and a positive unemployment report were also factors.



Poultry  Date: January 7, 2011

Eggs
New York:  Ex. Lg. 102-106; Lg. 100-104; 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 are steady for whole broilers and fryers. Supplies of all sizes are moderate with trading limited to most immediate needs. Demand is seasonally light to moderate entering the weekend. Market activity is slow to moderate. In production areas, live supplies are moderate at mostly desirable weights.