(Jan) EAST AR: 1377 to 1413
(NC) Summ. 1301 to 1331
(Jan) MISS: 1408 to 1423 ; AR & White 1381 to 1408
(NC) Summ. 1311 to 1347
Ark. Processor Bids: (Jan) 1393 to 1393 (NC) 1331 to 1331
Memphis: (Jan) 1418 to 1423 (NC) 1346 to - - -
Riceland Foods: (Jan) Stuttgart 1393 ; Pendleton 1413 ; West Memphis 1423
|Jan '12||up||17 3/4||at||1343 1/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans continued to move back toward recent highs with excellent support from outside markets. While weather conditions in Argentina are still improving, labor strikes at the major port are raising concern from importers. That translates to sales for the United States and further extension of the uptrend. March is likely to test resistance at $14.32 ½ and November is not far from the recent high of $13.64. -
Cash bid for January at Memphis 840 3/4 to 850 3/4;
|Bids to farmers at Local Elevators||830-837;|
|Chicago Futures:||Mar||up||15||at||840 3/4|
|May||up||15 1/4||at||870 3/4|
|July||up||14 3/4||at||889 1/2|
|Sept||up||13 1/2||at||907 1/4|
|Dec||up||12 3/4||at||919 1/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for January at Memphis 1115 to 1121;
|Bids to farmers at River Elevators||1066-1127;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||January at Memphis 647 1/2 to 651 1/2;|
|New Crop at Memphis 611 1/4 to - - -;|
|Bids to farmers at River Elevators||624 to 645|
|Chicago Futures:||Mar||up||15 1/2||at||659 1/2|
|Sept||up||14 1/2||at||626 1/4|
|Dec||up||14 3/4||at||591 1/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat recovered from Friday’s big losses. Early thoughts that unrest in Egypt would hurt demand from that country have been replaced with ideas that the government will stay active in the export market in order to placate the people. July has resistance at the recent high of $9.03 ½.
Corn was sharply higher as the market remains concerned about tightening stocks. While export demand has declined there is little indication that other use has slipped. Feed usage is strong with cattle placements up 16 percent from last December. Ethanol use is good. So it appears that futures will test resistance at recent highs - $6.67 for March and $5.93 for December.
Cotton & Rice Date: January 31, 2011
|Spot Price, Grade 41 Staple 34:||Memphis up 369 at 16194|
|Greenwood up 369 at 16194|
|New York Futures:||Mar||up||369||at||16844|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton retraced a good portion of Friday’s decline. March futures closed less than 100 points below the record high close of last Thursday. The daily high on Thursday, just below $1.73, will be initial resistance to higher old crop price levels. December moved to a new high of $1.15 and appears ready to work higher as traders look to assure needed acreage is planted in 2011.
|Long Grain Cash Bid for||Feb||1251/cwt||to||- - -|
|- - -||- - -||to||- - -|
|Nov||up||49 1/2||at||1615 1/2|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice exploded to limit gains as it followed wheat higher. Support from a weaker dollar and higher oil aided the advance. Resistance is located at the recent March high of $15.81. There continues to be a separation of futures and the cash market. International markets are firm, but at levels over $100 a tonne below U.S. milled offerings. U.S. mills will be running at reduced rates if new export sales don’t soon materialize.
Cattle & Hogs Date: January 31, 2011
As reported by Federal-State Market News, receipts were 4,761 head at sales in Ash Flat, Springdale and Ola. Compared with last week, feeder steers sold firm to $4 higher .
|Medium & Large Frame 1||400||to||450 lbs.||150.25||to||- - -|
|500||to||550 lbs.||136.25||to||- - -|
|600||to||650 lbs.||126.00||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||139.00||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||121.25||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||119.00||to||- - -|
Slaughter Cows, Boners 58.00 to 65.00
Light Weight 40.00 to 49.00
Bulls, Yield Grade 1 1000 to 2100 lbs. 69.00 to 78.00
Midwest Steers - - - at - - - to - - -
Panhandle Steers - - - at - - - to - - -
|Oklahoma City Feeders
Cattle futures posted strong gains. The semiannual cattle inventory report, released on Friday showed continued herd liquidation. Tight supplies outside of feedlots added strength to feeders. April live cattle have resistance at their spike high of $116.30.
Peoria: were steady to $4 higher at 52.00 to 54.00
June moved to new contract highs, topping out at $101! The close opens up another $5 upside potential. Strong pork export prospects remain a supportive factor.
Poultry Date: January 31, 2011
|New York:||Ex. Lg. 111-115; Lg. 109-113; Med. 100-104;|
|Chicago:||Ex. Lg. 103-111; Lg. 101-109; Med. 92-100;|
U.S. Grade A
Prices are trending steady to weak for whole broilers and fryers. Supplies of all sizes are moderate to heavy with some discounting noted to help clear. Demand following the weekend is light. Market activity is slow. In production areas, live supplies are moderate; weights are mixed and noted as desirable to heavy.