(Jan) EAST AR: 1380 to 1416
(NC) Summ. 1273 to 1303
(Jan) MISS: 1408 to 1426 ; AR & White 1378 to 1394
(NC) Summ. 1282 to 1319
Ark. Processor Bids: (Jan) 1396 to 1401 (NC) 1303 to 1306
Memphis: (Jan) 1411 to 1416 (NC) 1314 1/2 to 1317 1/2
Riceland Foods: (Jan) Stuttgart 1396 ; Pendleton 1416 ; West Memphis 1426
|May||up||1 3/4||at||1425 1/2|
|Nov||up||4 1/2||at||1312 1/2|
|Jan '12||up||2 1/2||at||1313 1/2|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans closed slightly higher after retracing a good portion of early session gains. The market continued to respond to tightening stocks and strong demand. However, corn gained the advantage as the trade sees the price ratio favoring soybeans. The ratio was trading around 2.33 in the early going that changed to 2.30 at the end of the day. In order to get additional corn acreage the ratio will have to move toward 2.25 or lower.
Cash bid for January at Memphis 783 1/2 to - - -;
|Bids to farmers at Local Elevators||780-785;|
|Chicago Futures:||Mar||up||13||at||783 1/2|
|July||up||14 1/2||at||837 1/2|
|Sept||up||15 1/2||at||857 3/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for January at Memphis 1101 to 1112;
|Bids to farmers at River Elevators||1045-1105;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||January at Memphis 624 1/2 to 628 1/2;|
|New Crop at Memphis 592 to 596;|
|Bids to farmers at River Elevators||608 to 628|
|Chicago Futures:||Mar||up||11 1/2||at||642 1/2|
|May||up||11 3/4||at||651 1/2|
|Dec||up||10 1/2||at||570 1/2|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat posted big gains today. The weekly export report was a bit disappointing at 6.4 million bushels. But exports are running well ahead of projections even though USDA bumped its estimate by 50 million bushels in yesterday’s report. A ten percent increase in plantings was anticipated. Hard red acreage was just four percent higher, while soft red was up 47 percent with big increases in Arkansas, Missouri and Illinois. July wheat did not move above the recent high of $8.58, and that remains near term resistance.
Corn made new highs with March topping just under $6.50. A weaker dollar more than offset a poor export report. New crop December continues to move higher at a slower pace with today’s move topping out just over $5.70. In order to get more acres in corn price will have to increase relative to soybeans.
Cotton & Rice Date: January 13, 2011
|Spot Price, Grade 41 Staple 34:||Memphis down 391 at 13756|
|Greenwood down 391 at 13756|
|New York Futures:||Mar||down||391||at||14406|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton closed sharply lower. Cotton made big gains moving into this week’s report, while corn and soybeans were generally sideways. It appears the market feels cotton has made inroads of additional acreage in 2011. Some projections suggest 13 million acres or more will be planted in the United States. At the same time, foreign plantings are expected to increase as much as 10 percent, adding perhaps 10 million bales of production; and spinners are expected to shift to higher blends of polyester.
|Long Grain Cash Bid for||Jan||1184/cwt||to||- - -|
|April/May||1194/cwt||to||- - -|
|Chicago Futures:||Mar||up||15||at||1384 1/2|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice futures firmed after moving lower yesterday. Total 2011 production was raised 1.7 million hundredweight in yesterday’s report. All of that was long grain which now shows projected stocks of 41.9 million hundredweight. March futures have trendline resistance around $14, with support between $13.35 and $13.25.
Cattle & Hogs Date: January 13, 2011
As reported by Federal-State Market News, receipts were 483 head at sales in Charlotte and Ratcliff. Compared with last week, feeder steers sold steady on a light weather reduced receipts .
|Medium & Large Frame 1||400||to||450 lbs.||151.00||to||- - -|
|500||to||550 lbs.||125.50||to||- - -|
|600||to||650 lbs.||119.50||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||117.50||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||113.00||to||- - -|
|Medium & Large Frame - - -||- - -||to||- - - lbs.||- - -||to||- - -|
Slaughter Cows, Boners 54.00 to 60.00
Light Weight - - - to - - -
Bulls, Yield Grade - - - - - - to - - - lbs. - - - to - - -
Midwest Steers were at 104.00 to - - -
Panhandle Steers - - - at - - - to - - -
|Oklahoma City Feeders
|Steers||- - -||to||- - - lbs.||- - -||to||- - -|
|- - -||to||- - - lbs.||- - -||to||- - -|
Cattle futures were mostly higher again today based on USDA’s lower production estimate for 2011. Production was projected to fall 651 million pounds, or 2.5 percent less than 2010. Strong wholesale values were also supportive, moving to $168.40, the highest level in eight months. Consumer resistance could be seen around $170, and packers could make cutbacks based on declining operating margins.
Peoria: were steady at 48.50 to 49.00
Hog futures were lower across the board. February keeps failing to move above resistance at $81.30. The USDA projected pork production slightly lower in 2011. At the same time, exports are expected to rise almost ten percent in 2011. That should keep hog prices firm in the near term. Packer cutout margins remain favorable.
Poultry Date: January 13, 2011
|New York:||Ex. Lg. 102-106; Lg. 100-104; Med. 90-94;|
|Chicago:||Ex. Lg. 97-105; Lg. 95-103; Med. 80-88;|
U.S. Grade A
Whole broilers and fryers prices are steady. Offerings are light to moderate with trading usually limited to regular commitments. Many locations are trying to return to normal with some plants reporting Saturday and Sunday shifts. Demand approaching the weekend is light to moderate. Market activity is slow. In production areas, live supplies are moderate at mostly desirable weights.