(Mar) EAST AR: 1346 to 1382
(NC) Summ. 1306 to 1336
(Mar) MISS: 1379 to 1392 ; AR & White 1350 to 1377
(NC) Summ. 1311 to 1352
Ark. Processor Bids: (Mar) 1362 to 1362 (NC) 1334 to 1336
Memphis: (Mar) 1384 to 1390 (NC) 1341 to 1344
Riceland Foods: (Mar) Stuttgart 1362 ; Pendleton 1382 ; West Memphis 1392
|Aug||down||11 1/2||at||1380 1/4|
|Jan '12||down||8 3/4||at||1349 1/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans lost ground as the undertone of ag commodities weakened. Pressure from improving harvest activities in South America and prospects of a big crop also weighed on the market. Some reports suggest a crop of 71-72 million metric tons may be harvested in Brazil. It is assumed world buying interest will shift to South America as the crop moves from the field. November futures have strong support around $13, with resistance at $13.70 to $14.
Cash bid for March at Memphis 764 3/4 to 768 3/4;
|Bids to farmers at Local Elevators||752-759;|
|Chicago Futures:||May||down||21||at||779 3/4|
|July||down||18 3/4||at||811 1/2|
|Sept||down||16 1/4||at||845 1/2|
|Mar '12||down||12 1/2||at||885 1/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 1162 to 1185;
|Bids to farmers at River Elevators||1136-1196;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 695 1/2 to 697 1/2;|
|New Crop at Memphis 633 to 634;|
|Bids to farmers at River Elevators||677 to 706|
|Chicago Futures:||May||down||12||at||705 1/2|
|Today's Arkansas LDP rate for corn is:||0¢|
Pressure from outside markets combined with weather issues in major wheat growing areas continue to push wheat prices lower. 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 has again backed off after old crop May failed to penetrate resistance near $7.40. Indications of export interest moving from corn to wheat added to the negative undertone. Concern that congress will allow ethanol tax breaks to expire, which would limit corn use, added to the downturn. May support starts around $6.70 to $6.50, while December support starts at $5.90, and then $5.70.
Cotton & Rice Date: March 8, 2011
|Spot Price, Grade 41 Staple 34:||Memphis down 7.00 at 203.64|
|Greenwood down 7.00 at 203.64|
|New York Futures:||May||down||700||at||20714|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton declined as old crop backed off recent record highs. New crop December continues to consolidate between the recent low near $1.15 and the recent high just below $1.36. The market should remain in this 20 cents range until this year’s crop is fairly well established. Most estimates place plantings in the 12.5 to 13 million acre range, but producers appear to be moving that number higher. The USDA planting intentions report will be released at the end of the month.
|Long Grain Cash Bid for||March||1104/cwt||to||- - -|
|Chicago Futures:||May||down||15||at||1379 1/2|
|Nov||down||23 1/2||at||1507 1/2|
|Jan '12||down||24||at||1536 1/2|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice futures didn’t have much support as other grains tumbled. May is in position to retest support at $13.40 to $13.60. New crop September is faring a little better as the market looks at potentially smaller plantings in 2011. For now September is consolidating just above $14.60. The recent spike low just under $14 should be good support for the time being. While U.S. price levels have adjusted with the recent price break, they remain well above other offerings. New export sales are needed.
Cattle & Hogs Date: March 8, 2011
As reported by Federal-State Market News, receipts were 1,410 head at sales in Heber Springs and Ft. Smith. Compared with last week, feeder steers sold $5 to $10 higher .
|Medium & Large Frame 1||400||to||450 lbs.||167.25||to||- - -|
|500||to||550 lbs.||155.00||to||- - -|
|600||to||650 lbs.||143.75||to||- - -|
|Medium & Large Frame 2||450||to||500 lbs.||143.75||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||138.50||to||- - -|
|Medium & Large Frame 2||500||to||550 lbs.||127.50||to||- - -|
Slaughter Cows, Boners 66.00 to 73.00
Light Weight 48.00 to 52.00
Bulls, Yield Grade 1 1000 to 2100 lbs. 82.00 to 90.00
Midwest Steers - - - at - - - to - - -
Panhandle Steers - - - at - - - to - - -
|Oklahoma City Feeders
Cattle futures closed the day higher. April made a move toward resistance at $115 despite extremely slow cash cattle activity.
Peoria: were $2.50 lower to $1.50 higher at 54.50 to 56.50
Hog futures closed the day higher. Higher cash prices supported today’s strong close. Hog prices continue to trade in the $86 to $90 range.
Poultry Date: March 8, 2011
|New York:||Ex. Lg. 93-97; Lg. 91-95; Med. 84-88;|
|Chicago:||Ex. Lg. 85-93; Lg. 83-91; Med. 76-84;|
U.S. Grade A
Prices are trending higher for whole broilers and fryers. Offerings of all sizes are light for current trade needs. Demand is moderate to good. Market activity is moderate to mostly active. In the parts structure, movement is moderate to good for early week trading. In production areas, live supplies are moderate at mixed, but mostly desirable weights.