(Mar) EAST AR: 1332 to 1368
(New Crop) Summ. 1288 to 1318
(Mar) MISS: 1375 to 1383 ; AR & White 1336 to 1374
(NC) Summ. 1295 to 1334
Ark. Processor Bids: (Mar) 1348 to 1355 (NC) 1316 to 1318
Memphis: (Mar) 1385 1/4 to 1387 1/4 (NC) 1328 1/4 to 1330 1/4
Riceland Foods: (Mar) Stuttgart 1348 ; Pendleton 1368 ; West Memphis 1378
|Chicago Futures:||May||up||10 1/2||at||1375 1/4|
|Nov||up||3 1/2||at||1328 1/4|
|Jan '12||up||3 1/2||at||1332 3/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans traded to both sides of yesterday’s close before a late surge left the market a little higher. However, soybeans couldn’t break a minor trendline drawn off the recent high and last week’s high. This may become a major trendline if May can’t move above $14 in the next couple of days. Rumors China might lift price controls on vegetable oils gave the market a boost. A slight increase in projected soybean production in Argentina limited upside movement.
Cash bid for March at Memphis 795 1/4 to 810 1/4;
|Bids to farmers at Local Elevators||781-788;|
|Chicago Futures:||May||down||6 3/4||at||810 1/4|
|July||down||7 1/2||at||840 3/4|
|Dec||down||10 1/2||at||889 1/2|
|Mar '12||down||14 1/4||at||908|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 1224 to 1233;
|Bids to farmers at River Elevators||1189-1250;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 735 1/2 to 740 1/2;|
|New Crop at Memphis 639 3/4 to 644 3/4;|
|Bids to farmers at River Elevators||707 to 724|
|Chicago Futures:||May||up||4 1/2||at||735 1/2|
|Sept||up||4 1/2||at||654 3/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat turned lower today, but weakness was somewhat limited. Exports continue to move at a brisk pace and the U.S. winter crop remains under stress, both of which are providing support. In fact, based upon the current crop ratings, yields will be low and many acres will likely be abandoned in western Kansas and in parts of Texas. July appears to have put in a top for the time being, and February’s high of $9.49 provides formidable resistance.
Corn ended the session mixed. However, despite being lower for the day, December remains above $6 and appears poised to test resistance near $6.20. This may not happen for a while as traders look ahead to the USDA planting intentions report which will be released on March 31. If the trade feels acreage will not meet needs, then price will rise.
Cotton & Rice Date: March 1, 2011
|Spot Price, Grade 41 Staple 34:||Memphis up 2.37 at 190.10|
|Greenwood up 2.37 at 190.10|
|New York Futures:||May||up||237||at||19360|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton closed mixed after surging sharply higher in the overnight trade. December closed lower after approaching $1.35 overnight. This was near the recent contract high and suggests $1.35 will be stiff resistance in the future. With the exception of expiring March, other old crop contracts managed a positive close. The market remains extremely volatile and subject to big daily moves.
|Long Grain Cash Bid for||Mar||1142/cwt||to||- - -|
|Jan '12||down||2 1/2||at||1531|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice futures were slightly lower as the market tries to establish support and regroup following the recent sharp selloff. A weaker undertone in the international market and big U.S. supplies added to the jitters of fund traders to create the recent slide. Upside potential will continue to be limited, unless the U.S. can’t make inroads into the export market.
Cattle & Hogs Date: March 1, 2011
As reported by Federal-State Market News, receipts were 973 head at sales in Heber Springs and Ft. Smith. Compared with last week, feeder steers sold weak to $4 lower .
|Medium & Large Frame 1||400||to||450 lbs.||153.50||to||- - -|
|500||to||550 lbs.||145.00||to||- - -|
|600||to||650 lbs.||134.00||to||- - -|
|Medium & Large Frame 2||450||to||500 lbs.||143.50||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||126.75||to||- - -|
|Medium & Large Frame 2||500||to||550 lbs.||120.75||to||- - -|
Slaughter Cows, Boners 68.00 to 73.00
Light Weight 43.00 to 50.00
Bulls, Yield Grade 1 1000 to 2100 lbs. 78.00 to 87.00
Midwest Steers - - - at - - - to - - -
Panhandle Steers were at 108.00 to - - -
|Oklahoma City Feeders
June live cattle futures continued lower today after posting a bearish reversal yesterday. The market is concerned about what $3+ gas will do to meat demand. Record-high cash cattle prices were recorded last week, but packers are operating in the red at present, so there are questions about how long these prices will hold.
Peoria: were steady at 54.00 to 56.00
Early losses were tempered before the close in the hog pit. April is testing support at the chart gap between $87.65 and $88.10. Pork demand has been strong and is limiting the downside.
Poultry Date: March 1, 2011
|New York:||Ex. Lg. 97-101; Lg. 95-99; Med. 88-92;|
|Chicago:||Ex. Lg. 95-103; Lg. 93-101; Med. 82-90;|
U.S. Grade A
Prices are holding steady for whole broilers and fryers. Offerings of all sizes are light to moderate. Demand is moderate for first of the month business. Market activity is moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.