(Mar) EAST AR: 1378 to 1414
(NC) Summ. 1321 to 1351
(Mar) MISS: 1412 to 1424 ; AR & White 1382 to 1413
(NC) Summ. 1328 to 1367
Ark. Processor Bids: (Mar) 1394 to 1394 (NC) 1349 to 1351
Memphis: (Mar) 1419 to 1422 (NC) 1359 to 1361
Riceland Foods: (Mar) Stuttgart 1394 ; Pendleton 1414 ; West Memphis 1424
|Jan '12||down||1 3/4||at||1364|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans ended the day mixed with little fundamental news to inspire movement in either direction. Outside markets sent mixed signals. Crude oil made a new high for the move, but stocks were lower despite a positive employment report. The market has found little evidence that higher prices are limiting demand, so the pressure will be on farmers to produce enough in 2011 to increase supplies.
Cash bid for March at Memphis 817 1/4 to 821 1/4;
|Bids to farmers at Local Elevators||800-807;|
|Chicago Futures:||May||up||8 3/4||at||832 1/4|
|Mar '12||up||5 3/4||at||919 3/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 1211 to 1225;
|Bids to farmers at River Elevators||1175-1236;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 726 to - - -;|
|New Crop at Memphis 640 to 646;|
|Bids to farmers at River Elevators||699 to 716|
|Chicago Futures:||May||down||8 3/4||at||728|
|July||down||7 1/2||at||732 3/4|
|Dec||down||6 1/4||at||609 1/2|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat posted gains across the board. Wet weather moving in to the center of the country is now forecast to miss the driest regions of hard red winter wheat country. Many acres are in poor condition and will likely not be harvested. July’s inability to move above resistance just below $8.60 is negative. For now the market is in a trading range between $8.60 and $7.90.
Corn closed lower. Sharply higher crude oil should be supportive for corn since more corn will likely be used for ethanol. USDA is currently completing the survey work for the March 31 planting intentions report. The trade is anticipating a significant increase in production. For the market to make another leg up, December needs to close above $6.20 and May needs to close above $7.44.
Cotton & Rice Date: March 4, 2011
|Spot Price, Grade 41 Staple 34:||Memphis up 7.00 at 209.20|
|Greenwood up 7.00 at 209.20|
|New York Futures:||May||up||700||at||21270|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Old crop cotton was sharply higher based on continued strong demand and fund buying. December posted sharp losses, and has resistance just above $1.35, which may be difficult to penetrate. While next year’s plantings are projected to be 12.5 to 13 million acres, production estimates are generally less than a million bales above 2010. Normal abandonment in cotton is ten percent or more, but last year it was barely two percent. Dry conditions suggest this year could be near the norm. So it could take additional acreage to make a real difference.
|Long Grain Cash Bid for||Mar||1144/cwt||to||- - -|
|Jan '12||up||45||at||1576 1/2|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice futures posted gains across the board, but new crop was far and away the upside leader. Despite the recent selloff, U.S. price remains above rice from other origins. Inability to make new sales will soon limit milling activity. The only positive in the market appears to be prospects of a significant cut in 2011 plantings in the Southern rice area.
Cattle & Hogs Date: March 4, 2011
As reported by Federal-State Market News, receipts were 13,718 head at sales in Arkansas this week. Compared with last week, feeder steers sold $3 to $7 higher .
|Medium & Large Frame 1||400||to||450 lbs.||162.50||to||- - -|
|500||to||550 lbs.||149.25||to||- - -|
|600||to||650 lbs.||135.00||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||147.00||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||132.00||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||160.75||to||- - -|
Slaughter Cows, Boners 63.00 to 71.00
Light Weight 46.00 to 54.00
Bulls, Yield Grade 1 1000 to 2100 lbs. 78.00 to 88.00
Midwest Steers - - - at - - - to - - -
Panhandle Steers - - - at - - - to - - -
|Oklahoma City Feeders
Cattle futures were mostly lower. While cattle prices don’t normally top until later in the spring, there is some thought this market is about over following record cash bids last week.
Peoria: were $1 lower to $3 higher at 55.00 to 57.00
Hog futures were mixed. Strong export demand and a manageable slaughter supply should limit further downside price movement, but packer margins will need to improve. There continues to be concern that demand for meat will suffer due to high gasoline prices.
Poultry Date: March 4, 2011
|New York:||Ex. Lg. 93-97; Lg. 91-95; Med. 84-88;|
|Chicago:||Ex. Lg. 95-103; Lg. 93-101; Med. 82-90;|
U.S. Grade A
Prices are holding firm to higher for whole broilers and fryers. Offerings are light to satisfy current trade needs. Retail and food service demand is moderate to good. Market activity is active. In production areas, live supplies are moderate at mixed, but mostly desirable weights.