(Feb) EAST AR: 1262 to 1298
(NC) Summ. 1234 to 1264
(Feb) MISS: 1298 to 1308 ; AR & White 1266 to 1295
(NC) Summ. 1241 to 1280
Ark. Processor Bids: (Feb) 1278 to 1278 (NC) 1262 to 1264
Memphis: (Feb) 1308 to - - - (NC) 1276 1/4 to 1279 1/4
Riceland Foods: (Feb) Stuttgart 1278 ; Pendleton 1298 ; West Memphis 1308
|Nov||down||67 3/4||at||1274 1/4|
|Jan '12||down||67 1/2||at||1278|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans extended recent declines as investment funds bail out on concerns about ongoing turmoil in Libya. Even sharply higher oil failed to stem fund selling. November soybeans fell to the second level of support near $12.70. Further declines are probable; support is seen around $12, then $11.25.
Cash bid for February at Memphis 774 1/4 to 778 1/4;
|Bids to farmers at Local Elevators||767-774;|
|Chicago Futures:||Mar||down||60||at||762 1/4|
|July||down||59 1/2||at||826 1/2|
|Sept||down||58 1/2||at||854 1/2|
|Dec||down||56 1/2||at||871 3/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for February at Memphis 1133 to 1139;
|Bids to farmers at River Elevators||1089-1150;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||February at Memphis 683 3/4 to - - -;|
|New Crop at Memphis 614 1/4 to 624 1/4;|
|Bids to farmers at River Elevators||650 to 667|
|Chicago Futures:||Mar||down||30||at||679 3/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat fell below trendline support near $9. Accelerated selling sent the market sharply lower as there was little resistance to the downward pressure. Like corn and soybeans, the market will seek support at lower levels. For July, it starts around $7.90 to $8, and then near $7.
Corn declines accelerated at midday carrying December below trendline support at $5.90. While sharply higher crude oil would normally be supportive, funds are headed to higher ground. Additional support near $5.50, and then around $4.80 could be tested.
Cotton & Rice Date: February 22, 2011
|Spot Price, Grade 41 Staple 34:||Memphis down 7.00 at 184.43|
|Greenwood down 7.00 at 184.43|
|New York Futures:||Mar||down||908||at||18794|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton losses were extended in today’s trade. After making a key reversal ahead of the three day weekend, there was little support in today’s market. Limitless March saw huge declines, while new crop December and other contracts were down the 7-cents limit. December has trendline support around $1.16, but may be headed toward $1 support.
|Long Grain Cash Bid for||Feb||1135/cwt||to||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice futures followed everything lower. Investments funds have little concern about fundamentals and tend to follow the leader. In this case, profit taking has September headed toward $14 support, or perhaps lower.
Cattle & Hogs Date: February 22, 2011
As reported by Federal-State Market News, receipts were 7,169 head at sales in Heber Springs, Ft. Smith, Springdale, Ash Flat & Ola. Compared with last week, feeder steers had no price comparison due to inclement weather the past few weeks .
|Medium & Large Frame 1||400||to||450 lbs.||157.00||to||- - -|
|500||to||550 lbs.||145.50||to||- - -|
|600||to||650 lbs.||133.50||to||- - -|
|Medium & Large Frame 2||450||to||500 lbs.||142.75||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||127.75||to||- - -|
|Medium & Large Frame 2||500||to||550 lbs.||120.75||to||- - -|
Slaughter Cows, Boners 63.00 to 73.00
Light Weight 45.00 to 55.00
Bulls, Yield Grade 1 1000 to 2100 lbs. 75.00 to 85.00
Midwest Steers were $2.50 to $3 lower at 107.00 to - - -
Panhandle Steers - - - at - - - to - - -
|Oklahoma City Feeders
Cattle futures lost ground as the market reacted negatively to last week’s report. The February 1 inventory indicated big placements, and almost six percent more cattle on feed when compared to year earlier numbers. Feeders also declined, but sharply lower corn tempered that decline.
Peoria: were steady to $2 lower at 53.00 to 55.00
Hogs were mostly lower with only the nearby contract showing positive numbers. Weakness may be short-lived as seasonally supplies are expected to decrease. Pork supplies were down over three percent last week.
Poultry Date: February 22, 2011
|New York:||Ex. Lg. 111-115; Lg. 109-113; Med. 95-99;|
|Chicago:||Ex. Lg. 103-111; Lg. 101-109; Med. 90-98;|
U.S. Grade A
Prices are trending steady to firm for whole broiler and fryers. Offerings are light to moderate for current trade needs. Demand following the weekend is moderate. Market activity is moderate to active. In production areas, live supplies are moderate. Weights are mixed but mostly desirable.