(Jan) EAST AR: 1376 to 1412
(NC) Summ. 1308 to 1338
(Jan) MISS: 1406 to 1422 ; AR & White 1376 to 1392
(NC) Summ. 1317 to 1354
Ark. Processor Bids: (Jan) 1392 to 1392 (NC) 1338 to 1338
Memphis: (Jan) 1401 1/4 to 1410 1/4 (NC) 1350 1/4 to - - -
Riceland Foods: (Jan) Stuttgart 1392 ; Pendleton 1412 ; West Memphis 1422
|Chicago Futures:||Mar||down||2||at||1412 1/4|
|May||down||1 3/4||at||1422 3/4|
|Nov||up||6 1/2||at||1348 1/4|
|Jan '12||up||5 1/2||at||1350 1/2|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans closed mixed with small declines posted in the nearby contracts. A strong export report was generally positive as was a weaker dollar. New crop contracts posted new recent highs as the uptrend remains intact.
Cash bid for January at Memphis 824 1/2 to - - -;
|Bids to farmers at Local Elevators||807-814;|
|Chicago Futures:||Mar||up||21||at||824 1/2|
|May||up||18 1/4||at||850 1/4|
|July||up||13 1/2||at||866 3/4|
|Sept||up||11 1/4||at||881 3/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for January at Memphis 1117 to 1120;
|Bids to farmers at River Elevators||1061-1121;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||January at Memphis 637 1/4 to 638 1/4;|
|New Crop at Memphis 605 3/4 to 607 3/4;|
|Bids to farmers at River Elevators||621 to 642|
|Chicago Futures:||Mar||up||3 1/4||at||657 1/4|
|Sept||up||6 1/2||at||622 3/4|
|Dec||up||11 1/4||at||587 1/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat continued to move higher based on tight stocks of good quality grain. U.S. export demand and concern about drought conditions in the Plains sent July futures to a new high and leaves the $9 target just 30 cents or so away.
Corn firmed on good export news. The market continued to build on yesterday’s smaller than expected Argentina crop estimate by the Buenos Aires Grain Exchange. Recent rains may have helped soybeans, but was generally thought to be too late for corn. EPA’s approval of 15 percent ethanol use in all vehicles made from 2001 or later was positive for corn.
Cotton & Rice Date: January 21, 2011
|Spot Price, Grade 41 Staple 34:||Memphis up 400 at 15044|
|Greenwood up 400 at 15044|
|New York Futures:||Mar||up||400||at||15694|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton continued to extend recent gains with December once again moving to a new contract high. A weaker dollar remains a positive. 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||1246/cwt||to||- - -|
|- - -||- - -||to||- - -|
|Chicago Futures:||Mar||up||16||at||1486 1/2|
|Sept||up||11 1/2||at||1534 1/2|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice futures closed higher with March approaching resistance at $15 again. 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 21, 2011
As reported by Federal-State Market News, receipts were 6,912 head at sales in in Arkansas this week. Compared with last week, feeder steers sold firm to $6 higher .
|Medium & Large Frame 1||400||to||450 lbs.||144.75||to||- - -|
|500||to||550 lbs.||130.75||to||- - -|
|600||to||650 lbs.||128.75||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||132.50||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||117.75||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||116.75||to||- - -|
Slaughter Cows, Boners 61.00 to 69.00
Light Weight 42.00 to 50.00
Bulls, Yield Grade 1 1000 to 2100 lbs. 70.00 to 80.00
Midwest Steers were at 106.00 to - - -
Panhandle Steers - - - at - - - to - - -
|Oklahoma City Feeders
Cattle futures were generally a little weaker ahead of this afternoon’s cattle on feed report. Pre-report estimates suggest that January 1 feedlot numbers will be 104.2% of a year ago, one of the biggest in several years. Should the number be bigger, it will weigh on near term values.
Peoria: were steady at 48.00 to 50.00
Hog futures were mostly higher. Nearby contracts were the weakest. Long term it appears late spring contracts will test resistance at $100. However, futures are overbought and possibly due a short term downward retracement.
Poultry Date: January 21, 2011
|New York:||Ex. Lg. 107-111; Lg. 105-109; Med. 95-99;|
|Chicago:||Ex. Lg. 94-102; Lg. 92-100; Med. 80-88;|
U.S. Grade A
Prices are trending weak for whole broilers and fryers. Supplies of all sizes are moderate to heavy for current trade needs. Demand entering the weekend is light to moderate. Market activity is slow to moderate. In production areas, live supplies are moderate; weights are mixed and noted as desirable to heavy.