(Jan) EAST AR: 1376 to 1412
(NC) Summ. 1296 to 1326
(Jan) MISS: 1404 to 1422 ; AR & White 1374 to 1390
(NC) Summ. 1305 to 1342
Ark. Processor Bids: (Jan) 1392 to 1392 (NC) 1326 to 1326
Memphis: (Jan) 1403 1/2 to 1405 1/2 (NC) 1336 to 1338
Riceland Foods: (Jan) Stuttgart 1392 ; Pendleton 1412 ; West Memphis 1422
|Chicago Futures:||Mar||down||1 3/4||at||1411 1/2|
|Jan '12||up||9||at||1339 1/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans closed mixed with nearby contracts following the same pattern as yesterday – higher early and then losing ground to close lower. However, new crop contracts remained firm. Upside potential would be limited if corn has topped. However, tight stocks should limit downside pressure in the near term. March futures have support around $13.50.
Cash bid for January at Memphis 797 1/4 to - - -;
|Bids to farmers at Local Elevators||789-796;|
|Chicago Futures:||Mar||up||4||at||797 1/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for January at Memphis 1092 to 1099;
|Bids to farmers at River Elevators||1041-1102;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||January at Memphis 621 1/4 to 622 1/4;|
|New Crop at Memphis 585 1/4 to 588 1/4;|
|Bids to farmers at River Elevators||606 to 626|
|Chicago Futures:||Mar||down||18 1/4||at||641 1/4|
|Sept||down||11 1/2||at||605 1/4|
|Dec||down||9 3/4||at||568 1/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat firmed on good export demand and concern about dry conditions in the Southern Plains. July closed higher for the day, but could be making a double top just under $8.60.
Corn made a key reversal top today. While the market may have additional upside long term, today’s movement suggest further near term pressure. Key support starts just below $6, then around $5.80 for March. December support starts around $5.50.
Cotton & Rice Date: January 19, 2011
|Spot Price, Grade 41 Staple 34:||Memphis up 350 at 14244|
|Greenwood up 350 at 14244|
|New York Futures:||Mar||up||350||at||14894|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton closed higher today, but well off early highs. December moved to just under $1.08 at one point, while old crop was up the 500 point limit. Old crop has some resistance around $1.50. While China continues to buy cotton, there are indications that cheaper polyester is resulting in increased blends. So, we have a tug of war; higher prices are needed to compete with corn and beans for acreage, while lower prices are needed to meet competition from polyester.
|Long Grain Cash Bid for||Jan||1226/cwt||to||- - -|
|- - -||- - -||to||- - -|
|Chicago Futures:||Mar||up||15 1/2||at||1466 1/2|
|May||up||14 1/2||at||1494 1/2|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice futures closed higher again today with nearby March approaching resistance near $15 before declining. Funds appear to be driving the market higher based on reports that 2011 plantings in the southern production area will be sharply lower as producers opt to plant corn, soybeans or cotton. However, the upturn continues to keep U.S. rice overpriced relative to Asian offerings. Some mills will be facing downtime if new sales don’t surface. A recent Iraq tender went to cheaper offerings in Thailand and South America.
Cattle & Hogs Date: January 19, 2011
As reported by Federal-State Market News, receipts were 1,238 head at sales in Conway and Pocahontas. Compared with last week, feeder steers sold $3 to $7 higher, instances $10 higher .
|Medium & Large Frame 1||450||to||500 lbs.||144.50||to||- - -|
|550||to||600 lbs.||130.25||to||- - -|
|600||to||650 lbs.||120.50||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||120.00||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||116.75||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||112.75||to||- - -|
Slaughter Cows, Boners 60.00 to 69.00
Light Weight 43.00 to 50.00
Bulls, Yield Grade 1 1000 to 2000 lbs. 65.00 to 80.00
Midwest Steers - - - at - - - to - - -
Panhandle Steers - - - at - - - to - - -
|Oklahoma City Feeders
Live cattle futures were lower today as the market continued the downward reaction to yesterday’s key reversal top. February futures spiked to a new contract high above $112 before reversing yesterday. This could result in a pullback to recent support around $106. Larger supplies of market ready cattle will limit nearby gains in the cash market. With a cattle on feed report due Friday, the market could see additional position evening pressure tomorrow.
Peoria: were steady at 48.00 to 50.00
Hog futures remain at a sharp premium to cash despite declining today. Lighter slaughter weights are positive for the cash market as packers appear to need more hogs than thought earlier. Export demand is good and that should limit downside pressure.
Poultry Date: January 19, 2011
|New York:||Ex. Lg. 104-108; Lg. 102-106; Med. 92-96;|
|Chicago:||Ex. Lg. 94-102; Lg. 92-100; 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. Demand is light to moderate, best where promotions are planned or in progress. Market activity is slow to moderate. In production areas, live supplies are moderate at mostly desirable weights.