(Jan) EAST AR: 1339 to 1375
(NC) Summ. 1273 to 1303
(Jan) MISS: 1367 to 1385 ; AR & White 1342 to 1364
(NC) Summ. 1282 to 1319
Ark. Processor Bids: (Jan) 1355 to 1355 (NC) 1303 to 1303
Memphis: (Jan) 1370 1/2 to 1377 1/2 (NC) 1308 3/4 to 1312 3/4
Riceland Foods: (Jan) Stuttgart 1355 ; Pendleton 1375 ; West Memphis 1385
|Chicago Futures:||Mar||down||30||at||1374 1/2|
|May||down||29 1/2||at||1385 1/2|
|July||down||29 3/4||at||1392 1/4|
|Jan '12||down||23 1/2||at||1315 3/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans were sharply lower as funds took profits. Negative outside markets pressured the market despite continued strong demand from China. Improved weather in Argentina and strong prospects of a big crop in Brazil are adding fundamental pressure. Technically, November registered a key reversal top yesterday and the market showed good follow through to the downside today. While the market may negate this technical signal like corn did last week, it still suggests the market is tiring and will need fresh news to move higher.
Cash bid for January at Memphis 838 1/4 to - - -;
|Bids to farmers at Local Elevators||823-830;|
|Chicago Futures:||Mar||up||3||at||838 1/4|
|May||up||3 3/4||at||865 1/2|
|July||up||3 3/4||at||882 1/2|
|Sept||up||3 1/4||at||896 1/2|
|Dec||up||2 1/4||at||908 1/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for January at Memphis 1093 to 1096;
|Bids to farmers at River Elevators||1038-1098;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||January at Memphis 627 to 628;|
|New Crop at Memphis 596 3/4 to 597 3/4;|
|Bids to farmers at River Elevators||608 to 629|
|Chicago Futures:||Mar||down||11 1/4||at||644|
|May||down||10 3/4||at||654 1/4|
|Sept||down||8 1/2||at||612 3/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat futures were a bit higher today, as the profit-taking seen in other grains didn’t carry over into the wheat pit. The tight supply situation facing wheat continues to be supportive. Last year’s drought in Russia took that country out of the export market this year. Now excessive rains in Australia are hurting both their yield and quality potential, and a drought is worsening in the wheat producing region of China. That is keeping wheat above solid-looking trendline support. July futures are now just about 20 cents away from the $9 target.
Corn trimmed recent gains to close solidly lower. Like soybeans, this is a tired looking market which needs fresh fundamentals to fuel further gains. Downside appears limited until the market is assured usage is beginning to slip and 2011 plantings are sufficient to meet future demand. March futures have support at $6.25, and then $5.94, with last week’s high of $6.67 offering resistance. For December support is $5.60, then $5.40, with resistance at $5.92 ½.
Cotton & Rice Date: January 25, 2011
|Spot Price, Grade 41 Staple 34:||Memphis down 11 at 15533|
|Greenwood down 11 at 15533|
|New York Futures:||Mar||down||11||at||16183|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton was lower across the board but December gave back the biggest chunk of recent gains. Old crop March was nearly steady while December lost over 500 points. Obviously, weakness in beans and corn took pressure off December. Tight stocks and good demand limited old crop declines. The question is whether the market is truly satisfied about potential 2011 acreage. If not, December will make another run at the contract high of $1.14.
|Long Grain Cash Bid for||Jan||1205/cwt||to||- - -|
|April/May||1222/cwt||to||- - -|
|Chicago Futures:||Mar||down||39 1/2||at||1475|
|July||down||39 1/2||at||1528 1/2|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice reversed recent gains and closed sharply lower after funds took profit from recent purchases. March made a brief move above $15, but again that doesn’t appear to be a sustainable situation. U.S. milled offerings were already $125 per tonne above Asian offerings before gains last week. Poor quality and high price levels won’t find many takers unless demand improves significantly. March has support at $14.67, and then $14.33.
Cattle & Hogs Date: January 25, 2011
As reported by Federal-State Market News, receipts were 1,541 head at sales in Heber Springs and Fort Smith. Compared with last week, feeder steers sold near steady .
|Medium & Large Frame 1||400||to||450 lbs.||146.00||to||- - -|
|500||to||550 lbs.||136.00||to||- - -|
|600||to||650 lbs.||124.00||to||- - -|
|Medium & Large Frame 2||450||to||500 lbs.||127.00||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||119.00||to||- - -|
|Medium & Large Frame 2||500||to||550 lbs.||117.00||to||- - -|
Slaughter Cows, Boners 62.00 to 70.00
Light Weight 44.00 to 52.00
Bulls, Yield Grade 1 1000 to 2100 lbs. 69.00 to 79.00
Midwest Steers were $1 lower at 105.00 to - - -
Panhandle Steers were at 105.00 to - - -
|Oklahoma City Feeders
Cattle futures continued lower today. The cattle on feed report showed feedlot numbers up 4.6% from this time last year. That is a bit above the trade expectation and that could weigh on futures in the near-term. A firmer dollar was also a factor. February has support around $105.80.
Peoria: were steady at 48.00 to 50.00
Hog futures were mixed. 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 25, 2011
|New York:||Ex. Lg. 108-112; Lg. 106-110; Med. 97-101;|
|Chicago:||Ex. Lg. 99-107; Lg. 97-105; Med. 87-95;|
U.S. Grade A
Whole broilers/fryers prices are steady to instances weak. Supplies are moderate to heavy to satisfy current trade needs. Demand is light to moderate with limited trading. Market activity is slow to moderate. In production areas, live supplies are moderate; weights are mixed and noted as desirable to heavy.