(Mar) EAST AR: 1320 to 1351
(NC) Summ. 1293 to 1323
(Mar) MISS: 1348 to 1356 ; AR & White 1324 to 1346
(NC) Summ. 1295 to 1339
Ark. Processor Bids: (Mar) 1331 to 1336 (NC) 1316 to 1323
Memphis: (Mar) 1361 1/4 to 1363 1/4 (NC) 1321 1/4 to 1323 1/4
Riceland Foods: (Mar) Stuttgart 1336 ; Pendleton 1351 ; West Memphis 1356
|Chicago Futures:||May||down||14 1/4||at||1351 1/4|
|Nov||down||10 3/4||at||1333 1/4|
|Jan '12||down||10 3/4||at||1337 3/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans continued to honor resistance and closed lower. November futures remained below key trendline support as the market failed to hold early gains. Acreage this year remains a question with estimates ranging from less than 76 million to more than 78 million. Double crop acreage might have the figure toward the upper end of this range. A close above $13.58 is needed to resume the upmove.
Cash bid for March at Memphis 699 1/4 to 720 1/4;
|Bids to farmers at Local Elevators||700-710;|
|Chicago Futures:||May||down||8||at||714 1/4|
|July||down||7 1/2||at||750 1/4|
|Dec||down||8 1/4||at||817 1/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 1118 to 1138;
|Bids to farmers at River Elevators||1091-1152;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 681 to - - -;|
|New Crop at Memphis 615 1/2 to 618 1/2;|
|Bids to farmers at River Elevators||651 to 681|
|Chicago Futures:||May||down||5 3/4||at||681|
|July||down||5 1/2||at||688 1/2|
|Dec||down||2 1/2||at||609 3/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat traded in a narrow range before closing lower. The western wheat belt remains dry with only 27 percent of the Kansas crop rated good to excellent. Conditions in Texas and Oklahoma are about the same. July futures have trendline resistance around $7.90.
Corn was lower at the close as both old and new crop failed to follow through on recent gains. Old crop needs confirmation on rumored sales to China. New crop December has moved into position to test well established resistance at $6.20. 2011 plantings are expected to be the second largest in history at 92 million acres.
Cotton & Rice Date: March 23, 2011
|Spot Price, Grade 41 Staple 34:||Memphis down 4.09 at 196.87|
|Greenwood down 4.09 at 196.87|
|New York Futures:||May||down||409||at||20187|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton was sharply lower as the market retraced a substantial portion of yesterday’s gains. New crop December remains in a wide trading range, $1.15 to $1.35, historically high, but at the same time well below old crop highs that have been well over $2. Planting estimates for 2011 appear to have edged above 13 million acres, but there is still question about the potential size of the crop.
|Long Grain Cash Bid for||March||1111/cwt||to||1124/cwt|
|Chicago Futures:||May||up||19||at||1404 1/2|
|Sept||up||19 1/2||at||1500 1/2|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice futures moved higher as prospects of a much smaller crop in 2011 continue to be discussed. Recent private estimates suggested acreage will be down 40 percent or 1.4 million acres from last year. Stocks will be large with USDA projecting carryover of 52.8 million hundred weight, the majority of which will be long grain. September futures have a 62 percent retracement objective of $15.44.
Cattle & Hogs Date: March 23, 2011
As reported by Federal-State Market News, receipts were 1,010 head at sales in Conway and Pocahontas. Compared with last week, feeder steers sold steady to $3 lower .
|Medium & Large Frame 1||400||to||450 lbs.||162.00||to||- - -|
|500||to||550 lbs.||147.00||to||- - -|
|600||to||650 lbs.||134.00||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||140.00||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||132.25||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||124.00||to||- - -|
Slaughter Cows, Boners 67.50 to 77.50
Light Weight 40.00 to 48.00
Bulls, Yield Grade 1 1000 to 2000 lbs. 85.00 to 95.00
Midwest Steers were $1 higher at 114.00 to - - -
Panhandle Steers were steady at 113.00 to - - -
|Oklahoma City Feeders
Cattle futures ended a bit lower on profit taking. Improving beef cutout values are a positive, and should allow packers to keep bids near record levels.
Peoria: were steady at 55.00 to 57.00
Hogs were mostly lower on profit taking. Yesterday’s meat stocks report showed an increase in frozen pork stocks, and that contributed to today’s declines as well.
Poultry Date: March 23, 2011
|New York:||Ex. Lg. 105-109; Lg. 103-107; Med. 97-101;|
|Chicago:||Ex. Lg. 86-94; Lg. 84-92; Med. 78-86;|
U.S. Grade A
Whole broiler and fryer prices are trending weak. Offerings are moderate to heavy for current trade needs. Demand is light to moderate for mid-week business. Market activity is slow to moderate. In production areas, live supplies are moderate. Weights are mostly desirable.