(Mar) EAST AR: 1324 to 1355
(NC) Summ. 1304 to 1334
(Mar) MISS: 1352 to 1360 ; AR & White 1328 to 1350
(NC) Summ. 1306 to 1350
Ark. Processor Bids: (Mar) 1335 to 1340 (NC) 1327 to 1334
Memphis: (Mar) 1365 1/2 to 1370 1/2 (NC) 1333 1/2 to - - -
Riceland Foods: (Mar/April) Stuttgart 1340 ; Pendleton 1355 ; West Memphis 1360
|Chicago Futures:||May||up||3 1/4||at||1354 1/2|
|July||up||3 1/2||at||1364 1/2|
|Nov||up||10 1/4||at||1343 1/2|
|Jan '12||up||10 1/4||at||1348|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans reversed early declines to close higher. Nearby contracts pressured by slowing exports and a big South American crop registered the smallest gains. Prospects of a decrease in U.S. plantings provided new crop contracts a substantial boost. November futures closed above trendline resistance but will need to close above $43.58 to extend the upturn.
Cash bid for March at Memphis 724 1/2 to 745 1/2;
|Bids to farmers at Local Elevators||725-735;|
|Chicago Futures:||May||up||25 1/4||at||739 1/2|
|July||up||24 1/2||at||774 3/4|
|Sept||up||23 1/2||at||812 1/2|
|Mar '12||up||22 3/4||at||855 3/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 1156 to 1183;
|Bids to farmers at River Elevators||1016-1019;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 703 1/2 to 704 1/2;|
|New Crop at Memphis 631 1/2 to - - -;|
|Bids to farmers at River Elevators||673 to 703|
|Chicago Futures:||May||up||21 1/2||at||702 1/2|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat futures were posting strong gains at mid-day. Weekly export reports showed old crop sales of 24.4 million bushels and new crop sales of 3.2 million bushels. The cumulative total for the current marketing year is 60% higher than this time last year. July futures have trendline resistance around $7.90.
Corn closed with strong old crop gains. Talk of potential flooding in the Midwest contributed to the solid gains. December futures again pushed up near substantial resistance at $6.20. A close above this level would give the market a positive technical situation and further upside potential.
Cotton & Rice Date: March 24, 2011
|Spot Price, Grade 41 Staple 34:||Memphis up 6.95 at 203.82|
|Greenwood up 6.95 at 203.82|
|New York Futures:||May||up||695||at||20882|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton futures were higher as the market retraced yesterday’s decline after continuing lower in the overnight trade. Very tight stocks are again driving old crop contracts back toward recent highs. December futures have closed outside the recent trading range between $1.15 and $1.35. Recent private reports have 2011 plantings above 13 million acres. However, even that might not generate enough production to build stocks.
|Long Grain Cash Bid for||Mar||1111||to||1139/cwt|
|Chicago Futures:||May||up||14 1/2||at||1419|
|Jan '12||up||10 1/2||at||1565 1/2|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice futures traded higher throughout most of the session. The market has made some sweeping changes over the last two months as the trade attempts to balance a large supply of old crop rice against anticipated smaller plantings in 2011; old crop rice that for the most part is lower in quality than normal and will be difficult to mark. (Please note the Informa acreage projection was 3.2 million acres and not 2.2 million acres as indicated earlier.)
Cattle & Hogs Date: March 24, 2011
As reported by Federal-State Market News, receipts were 2,914 head at sales in Charlotte, Green Forest and Ratcliff. Compared with last week, feeder steers sold mostly firm to $5 higher .
|Medium & Large Frame 1||400||to||450 lbs.||164.00||to||- - -|
|500||to||550 lbs.||154.00||to||- - -|
|600||to||650 lbs.||146.00||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||149.00||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||136.50||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||133.00||to||- - -|
Slaughter Cows, Boners 64.00 to 72.00
Light Weight 50.00 to 57.00
Bulls, Yield Grade 1-2 1000 to 2100 lbs. 80.00 to 90.00, high dressing 90-100
Midwest Steers - - - at - - - to - - -
Panhandle Steers - - - at - - - to - - -
|Oklahoma City Feeders
Cattle futures were trading higher at mid-day. Cash prices remain strong, and the weekly export report showed 3,900 metric tons going to Japan, re-affirming that exports to that country are running smoothly despite the damage.
Peoria: were $1.50 higher to $2.50 lower at 54.50 to 56.50
Hogs were higher at mid-day. The dollar was a bit weaker, and that is good news for U.S. exports. Japan is continuing with routine purchases, which is a big plus since Japan is the largest importer of U.S. pork by a wide margin.
Poultry Date: March 24, 2011
|New York:||Ex. Lg. 110-114; Lg. 108-112; Med. 102-106;|
|Chicago:||Ex. Lg. 86-94; Lg. 84-92; Med. 78-86;|
U.S. Grade A
Whole broiler/fryer prices are trending weak. Offerings are moderate to heavy. Demand approaching the weekend is light to moderate for late week trading. Market activity is slow to moderate. In production areas, live supplies are moderate. Weights are mostly desirable.