(Feb) EAST AR: 977 to 1007
(NC) Summ. 853 to 883
(Feb) MISS: 1007 to 1017 ; AR & White 977 to 992
(NC) Summ. 868 to 898
Ark. Processor Bids: (Feb) 993 to 997 (NC) 863 to 883
Memphis: (Feb) 1017 to 1022 (NC) 893 to 898
Riceland Foods: (Feb) Stuttgart 997 ; Pendleton 1007 ; West Memphis 1014
|May||up||1 1/2||at||1007 1/2|
|July||up||2 1/2||at||1014 1/2|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans lost early steam and ended the session narrowly mixed. Old crop was slightly higher and new crop lower. Some evening up of positions was noted ahead of tomorrow’s supply demand report. Prospects of smaller crops in Brazil and Argentina boosted the overnight trade. Weekend purchases by China were also a positive factor. Tomorrow’s report is expected to reflect continued good sales with projected ending stocks coming in a little below the January estimate. March could test resistance around 10.40, if the hot, dry weather in South America returns.
Cash bid for February at Memphis 465 to 475;
|Bids to farmers at Local Elevators||471-486;|
|July||up||8 1/4||at||590 1/2|
|Sept||up||8 1/4||at||605 1/4|
|Dec||up||8 1/2||at||635 3/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for February at Memphis 522 to - - -;
|Bids to farmers at River Elevators||423-503;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||February at Memphis 377 1/2 to 380 1/2;|
|New crop at Memphis 369 to - - -;|
|Bids to farmers at River Elevators||337 to 378|
|Chicago Futures:||March||up||1/4||at||377 1/2|
|Today's Arkansas LDP rate for corn is:||0¢|
Corn ended the day steady to slightly higher but well off the highs for the session. Tomorrow’s report is expected to pare use numbers and raise ending stocks. The average pre-report estimate is up 33 million bushels from January. March remains in a sideways consolidation pattern with support around $3.60. Wheat futures turned higher again today, with little fundamental justification. Supplies remain large, and U.S. prices are still well above other quotes from around the globe. Drought conditions in the Southern Plains continue to be a supportive factor. Texas got much needed rain this weekend, but still much of the crop there is said to be in poor to very poor condition. July found resistance at $6.00 too much, and backed off early gains.
Cotton & Rice Date: February 09, 2009
|Spot Price, Grade 41 Staple 34:||Memphis up 12 at 4548|
|Greenwood up 12 at 4548|
|New York Futures:||March||up||12||at||4998|
|- - -||- - -||at||- - -|
|This week's LDP rate for cotton is||13.14 cents|
|The estimate for next week is||13.14 cents|
Cotton was modestly higher as the sideways pattern of the last two weeks remains intact. New crop December is in position to test the recent high of 57.2 cents if export demand increases. To date, the market has had to deal with big stocks and declining use. Economic conditions do not favor any significant improvement in exports. However, U.S. plantings are expected to decline for the third year in a row and that could tighten stocks by the end of the year.
|Long Grain Cash Bid for||n/a||- - -||to||- - -|
|n/a||- - -||to||- - -|
|Chicago Futures:||March||up||32||at||1310 1/2|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice continued last week’s retracement of recent declines. March futures moved above the 38% retracement objective of $13.11 before closing right on that level. The 50% retracement objective of $13.60 is next. The market move has little fundamental support as U.S. movement of milled rice remains slow. That could change down the line, but for now, Vietnam is the major supplier. Tomorrow’s report is not expected to show any major changes, although export sales are well behind year ago levels.
Cattle & Hogs Date: February 09, 2009
As reported by Federal-State Market News, receipts were 3293 head at sales in Ash Flat, Springdale and Ola. Compared with last week, feeder steers sold steady to $3 higher .
|Medium & Large Frame 1||400||to||450 lbs.||117||to||- - -|
|500||to||550 lbs.||103.50||to||- - -|
|600||to||650 lbs.||92.25||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||106||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||86.50||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||83.75||to||- - -|
Slaughter Cows, Boners 42 to 47
Light Weight n/a to - - -
Bulls, Yield Grade 1 1000 to 2100 lbs. 52 to 59
Midwest Steers were 50¢ lower to $1.50 higher at 81 to 83
Panhandle Steers were $1 to $4 higher at 83 to - - -
|Oklahoma City Feeders
Cattle futures ended the day on a positive note on ideas that the beef market is bottoming and strong indications that beef supplies will be considerably smaller in the coming months. Strength in cash cattle prices gave the market a boost today as well.
Peoria: were steady at 34.5 to 35
St. Paul n/a at - - - to - - -
Hogs ended mostly lower on weak cash hog and wholesale pork prices. April is holding steady just above last week’s low of $59.85.
Poultry Date: February 09, 2009
|New York:||Ex. Lg. 104-108; Lg. 102-106; Med. 96-100;|
|Chicago:||Ex. Lg. 97-105; Lg. 95-103; Med. 88-96;|
Eastern Region Turkeys
U.S. Grade A
Trade sentiment was steady to about steady. Demand following the weekend was mostly fair with trading usually limited to regular commitments. Supplies of all sizes were at least adequate to satisfy trade needs. In production areas, live supplies were moderate at mixed, but mostly desirable weights.