(Jan) EAST AR: 1377 to 1413
(NC) Summ. 1286 to 1316
(Jan) MISS: 1405 to 1423 ; AR & White 1375 to 1391
(NC) Summ. 1295 to 1332
Ark. Processor Bids: (Jan) 1393 to 1393 (NC) 1316 to 1316
Memphis: (Jan) 1406 1/4 to - - - (NC) 1326 to 1328
Riceland Foods: (Jan) Stuttgart 1403 ; Pendleton 1423 ; West Memphis 1433
|Chicago Futures:||Mar||down||9 1/4||at||1413 1/4|
|July||down||6 1/2||at||1428 1/4|
|Jan '12||up||4 1/4||at||1330 1/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans were an earlier follower of today’s rally, but turned around to close a bit lower. Recent rains in Argentina came at just the right time to give their yields a boost. Today’s lack of follow through on last week’s gains is a bit worrisome. The market knows stocks are going to be tight this marketing year; the question is whether the U.S. will plant enough acreage to provide some relief. March is consolidating in a narrow range between the contract high of $14.32 and $14.05 ½.
Cash bid for January at Memphis 793 1/4 to - - -;
|Bids to farmers at Local Elevators||788-793;|
|Chicago Futures:||Mar||up||20||at||793 1/4|
|May||up||19 1/4||at||822 1/4|
|July||up||18 1/2||at||846 1/4|
|Dec||up||15 1/2||at||880 3/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for January at Memphis 1131 to 1142;
|Bids to farmers at River Elevators||1075-1136;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||January at Memphis 640 1/2 to 641 1/2;|
|New Crop at Memphis 599 3/4 to 600 3/4;|
|Bids to farmers at River Elevators||625 to 645|
|Chicago Futures:||Mar||up||10 3/4||at||659 1/2|
|May||up||11 1/4||at||669 1/4|
|Sept||up||7 1/4||at||616 3/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat gapped higher today, but July found resistance at $8.46. A close above there would suggest a retest of the recent high of $8.58 is possible. Active buying around the world is supporting the market. Algeria bought 600,000 tons of wheat yesterday and has reportedly bought a couple of million tons over the past few weeks.
March corn climbed to a new contract high in today’s trade. This continues a day to day fluctuation that has beans showing the greatest strength one day - then corn the next. This is like a heavyweight fight with both fighters trying to get the feel of the fight. At some point, one or the other will make a strong move for increased acres. The bean to corn price ratio closed at 2.317 today, favoring soybeans.
Cotton & Rice Date: January 18, 2011
|Spot Price, Grade 41 Staple 34:||Memphis up 400 at 13894|
|Greenwood up 400 at 13894|
|New York Futures:||Mar||up||400||at||14544|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
December cotton was up the limit today, pushing prices back above the key $1 level. 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.
|Long Grain Cash Bid for||Jan||1211/cwt||to||- - -|
|- - -||- - -||to||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice posted limit gains today as well. March broke through trendline resistance and could challenge the January high of $14.67. March futures have support between $13.35 and $13.25.
Cattle & Hogs Date: January 18, 2011
As reported by Federal-State Market News, receipts were 4,044 head at sales in Heber Springs, Ft. Smith, Ash Flat and Springdale. Compared with last week, feeder steers sold mostly firm to $5 higher .
|Medium & Large Frame 1||400||to||450 lbs.||148.00||to||- - -|
|500||to||550 lbs.||134.50||to||- - -|
|600||to||650 lbs.||124.00||to||- - -|
|Medium & Large Frame 2||450||to||500 lbs.||129.00||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||117.00||to||- - -|
|Medium & Large Frame 2||500||to||550 lbs.||115.75||to||- - -|
Slaughter Cows, Boners 55.00 to 68.00
Light Weight 45.00 to 52.00
Bulls, Yield Grade 1 1000 to 2100 lbs. 69.00 to 79.00
Midwest Steers were $1 lower at 107.00 to - - -
Panhandle Steers were steady at 108.00 to - - -
|Oklahoma City Feeders
Cattle futures surged to new highs today, but nearby live cattle contracts look technically weak after turning lower before the close. A weaker dollar, strong U.S. stock markets and strong meat demand were supportive, and deferred contracts held on to some of their gains. Futures’ premium to cash prices and profit taking pressured the nearby contracts, though.
Peoria: were steady at 48.00 to 50.00
Most hog futures contracts set new highs today. Strong meat demand, speculative buying, a weaker dollar and stronger stock markets all contributed to today’s rally.
Poultry Date: January 18, 2011
|New York:||Ex. Lg. 102-106; Lg. 100-104; Med. 90-94;|
|Chicago:||Ex. Lg. 94-102; Lg. 92-100; Med. 80-88;|
U.S. Grade A
Prices continue to hold steady for whole broilers and fryers. Supplies of all sizes are moderate with trading usually limited to regular commitments. Demand following the weekend is light to moderate. Market activity is moderate. In production areas, live supplies are moderate at mostly desirable weights.