(Feb) EAST AR: 838 to 868
(NC) Summ. 741 to 771
(Feb) MISS: 868 to 888 ; AR & White 837 to 852
(NC) Summ. 756 to 785
Ark. Processor Bids: (Feb) 854 to 858 (NC) 766 to 771
Memphis: (Feb) 884 1/2 to 892 1/2 (NC) 785 1/2 to - - -
Riceland Foods: (Feb) Stuttgart 858 ; Pendleton 868 ; West Memphis 880
|Chicago Futures:||Mar||down||22||at||862 1/2|
|May||down||22 3/4||at||863 1/4|
|Jul||down||22 1/4||at||869 1/4|
|Nov||down||14 1/2||at||930 1/2|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans continued to decline with sharp losses. Even another good export report failed to deter the down trend. Growing evidence of the spreading world recession seemed to be driving the market lower. Wall Street has shown little confidence in the new stimulus bill and that negativity is now playing in the commodities. A stronger $ is adding to the export concerns.
Corn lost ground despite a fifth consecutive week of strong exports. The market is oversold and due a rebound. Corn and beans will begin to focus on planting plans in the near term. Key numbers to look for will be 78 million or more for beans and 83-85 million acres or less for corn.
Cash bid for February at Memphis 439 1/4 to 444 1/4;
|Bids to farmers at Local Elevators||422-437;|
|Chicago Futures:||Mar||down||1/4||at||519 1/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for February at Memphis 474 to - - -;
|Bids to farmers at River Elevators||375-455;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||February at Memphis 356 1/4 to 358 1/4;|
|new crop at Memphis 337 3/4 to - - -;|
|Bids to farmers at River Elevators||310 to 350|
|Chicago Futures:||Mar||down||3||at||350 1/4|
|Sep||down||3 1/4||at||377 3/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat was under pressure from weakness in the stock market and strength in the dollar. Global supplies are plentiful and the strong dollar makes our commodities more expensive around the world.
Cotton & Rice Date: February 20, 2009
|Spot Price, Grade 41 Staple 34:||Memphis down 81 at 3885|
|Greenwood down 81 at 3885|
|New York Futures:||Mar||down||39||at||4303|
|- - -||- - -||at||- - -|
|This week's LDP rate for cotton is||16.89 cents|
|The estimate for next week is||16.94 cents|
Cotton stocks and declining demand due to economic woes are driving the market lower. New crop December below 50 cents could key further declines. This year's plantings appear to be growing, as corn and beans decline.
|Long Grain Cash Bid for||n/a||- - -||to||- - -|
|n/a||- - -||to||- - -|
|Chicago Futures:||Mar||down||30 1/2||at||1198 1/2|
|May||down||27 1/2||at||1202 1/2|
|Sep||down||26 1/2||at||1205 1/2|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice was sharply lower as it traded in sympathy with other grains. Fundamentals remain bearish with milled exports at a standstill. U.S. rice is not competitive with other growths at this time. That could change when Vietnam reduces their stocks. For now the trend is down with nearby contracts at or below $12.
Cattle & Hogs Date: February 20, 2009
As reported by Federal-State Market News, receipts were 8,780 head at sales in Arkansas this week. Compared with last week, feeder steers sold mostly weak to $4 lower .
|Medium & Large Frame 1||400||to||450 lbs.||111||to||- - -|
|500||to||550 lbs.||102.50||to||- - -|
|600||to||650 lbs.||93.75||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||100.75||to||- - -|
|Medium & Large Frame 1||400||to||450 lbs.||94.25||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||85.25||to||- - -|
Slaughter Cows, Boners 37 to 43
Light Weight 27 to 31
Bulls, Yield Grade 1 1000 to 2100 lbs. 49 to 55
Midwest Steers n/a at - - - to - - -
Panhandle Steers remained at 80 to - - -
|Oklahoma City Feeders
Cattle futures were under renewed pressure today, erasing yesterday's gains early on. Weakness in the stock market and strength in the dollar sparked today's selloff.
Peoria: were $1 lower at 36 to 36.5
St. Paul sheep shorn slaughter lambs at n/a to - - -
Hogs were also sharply lower. Weak packer demand and general economic weakness pushed prices to new contract lows today.
Poultry Date: February 20, 2009
|New York:||Ex. Lg. 95-99; Lg. 93-97; Med. 86-90;|
|Chicago:||Ex. Lg. 85-93; Lg. 83-91; Med. 77-85;|
Eastern Region Turkeys
U.S. Grade A
Trade sentiment was steady to about steady. Demand entering the weekend was no better than fair with limited trading. Supplies of all sizes were more than adequate to satisfy current trade needs. In production areas, live supplies were moderate at mixed, but mostly desirable weights.