(Feb) EAST AR: 1321 to 1357
(NC) Summ. 1285 to 1315
(Feb) MISS: 1359 to 1367 ; AR & White 1325 to 1356
(NC) Summ. 1292 to 1331
Ark. Processor Bids: (Feb) 1337 to 1337 (NC) 1313 to 1315
Memphis: (Feb) 1376 1/4 to - - - (NC) 1326 3/4 to 1329 3/4
Riceland Foods: (Feb) Stuttgart 1337 ; Pendleton 1357 ; West Memphis 1367
|Chicago Futures:||Mar||down||8 1/4||at||1357 1/4|
|May||down||10 1/4||at||1364 3/4|
|July||down||10 1/4||at||1372 1/2|
|Nov||down||4 3/4||at||1324 3/4|
|Jan '12||down||4 1/2||at||1329 1/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans were a bit weaker today, but traded in a relatively narrow range. A three-point down trendline can be drawn on the November chart, but the market looks to have substantial support around $12.70. Export movement has been good so far this marketing year, but demand has begun to shift to South America as it does every year at this time.
Cash bid for February at Memphis 782 1/2 to 797 1/2;
|Bids to farmers at Local Elevators||788-795;|
|Chicago Futures:||Mar||up||6||at||782 1/2|
|July||up||7 1/4||at||848 1/4|
|Sept||up||8 3/4||at||879 1/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for February at Memphis 1210 to - - -;
|Bids to farmers at River Elevators||1166-1227;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||February at Memphis 732 1/2 to - - -;|
|New Crop at Memphis 635 1/4 to 640 1/4;|
|Bids to farmers at River Elevators||694 to 711|
|Chicago Futures:||Mar||up||10 1/2||at||722 1/2|
|Sept||up||4 1/4||at||650 1/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat was higher again today. Exports continue to move at a brisk pace and the U.S. winter crop remains under stress, both of which are providing support. July appears to have put in a top for the time being, and February’s high of $9.49 provides formidable resistance.
March corn moved to a new high today, but new crop December has tough resistance around $6.19. Unless that level is bested, it appears December has put in at least a short-term high. Fundamentals remain unchanged, except for a positive export report. It appears the downturn has become a buying opportunity for commercials and users. Many buyers appear to be extending coverage of needs. Seed sales suggest acreage intentions may be as high as projected. This and any weather related crop problem will tend to keep the market on alert.
Cotton & Rice Date: February 28, 2011
|Spot Price, Grade 41 Staple 34:||Memphis up 7.00 at 187.73|
|Greenwood up 7.00 at 187.73|
|New York Futures:||Mar||up||518||at||20514|
|This week's LDP rate for cotton is||cents|
|The estimate for next week is||cents|
Cotton posted limit gains today. Tight stocks and good demand will continue to limit downside movement until this year’s planted acreage is known. Early projection suggests 12.5 to 13 million acres will be planted in 2011. However, extended dry conditions in Texas and areas of the South may limit production, keeping stocks tight. New crop December looks poised to test resistance at the recent high.
|Long Grain Cash Bid for||Feb||1135/cwt||to||- - -|
|Chicago Futures:||Mar||down||10 1/2||at||1385|
|Sept||down||10 1/2||at||1480 1/2|
|Today's Arkansas LDP rate for long grain rice is|
|medium grain rice is|
Rice futures reversed early gains to close lower. New crop September appears to have established good support around $14. Much smaller plantings are expected in 2011. Dry conditions and low surface water in many reservoirs could limit acreage if the condition persists. However, large stocks will remain a negative factor.
Cattle & Hogs Date: February 28, 2011
As reported by Federal-State Market News, receipts were 2,601 head at sales in Ash Flat, Springdale and Ola. Compared with last week, feeder steers sold uneven, mostly steady to $2 lower .
|Medium & Large Frame 1||400||to||450 lbs.||154.50||to||- - -|
|500||to||550 lbs.||148.25||to||- - -|
|600||to||650 lbs.||132.00||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||144.25||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||126.75||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||124.25||to||- - -|
Slaughter Cows, Boners 63.00 to 71.00
Light Weight 47.00 to 53.00
Bulls, Yield Grade 1 1000 to 2100 lbs. 74.50 to 84.50
Midwest Steers were at 110.00 to 111.50
Panhandle Steers - - - at - - - to - - -
|Oklahoma City Feeders
June live cattle futures posted a huge bearish reversal today. The market is concerned about what $3+ gas will do to meat demand. Record-high cash cattle prices were recorded last week, but futures were already trading a few dollars premium to that level.
Peoria: were steady at 54.00 to 56.00
Hog futures turned lower as well. April held above support around $88. Pork demand has been strong and is limiting the downside.
Poultry Date: February 28, 2011
|New York:||Ex. Lg. 101-105; Lg. 99-103; Med. 88-92;|
|Chicago:||Ex. Lg. 95-103; Lg. 93-101; Med. 82-90;|
U.S. Grade A
Prices are holding steady to fully steady for whole broiler and fryers. Offerings are light to moderate to satisfy current trade needs. Retail and food service demand is mostly moderate. Market activity is moderate.In production areas, live supplies are moderate at mixed, but mostly desirable weights.