(Mar) EAST AR: 836 to 859
(NC) Summ. 701 to 736
(Mar) MISS: 854 to 875 ; AR & White 839 to 855
(NC) Summ. 726 to 756
Ark. Processor Bids: (Mar) 839 to 847 (NC) 731 to 738
Memphis: (Mar) 873 1/2 to - - - (NC) 756 1/4 to - - -
Riceland Foods: (Mar) Stuttgart 849 ; Pendleton 859 ; West Memphis 866
|Chicago Futures:||May||up||9 1/2||at||853 1/2|
|Jul||up||4 3/4||at||851 1/4|
|Nov||down||1 3/4||at||791 1/4|
|Jan '10||down||2||at||800 1/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans closed narrowly mixed with new crop continuing lower under light selling pressure. A more moderate day on Wall Street means less activity in beans and grains. November soybeans closed under $8 for the second day in a row. Upside potential appears limited, but the market is in an oversold condition (RSI of less than 20) and is due a correction.
Corn ended the session steady to slightly higher. Country movement remains slow despite an improved basis situation. There is little positive fundamental news.
Cash bid for March at Memphis 435 3/4 to 436 3/4;
|Bids to farmers at Local Elevators||404-439;|
|Chicago Futures:||May||down||4 1/4||at||501 3/4|
|Jul||down||4 1/4||at||513 3/4|
|Mar||down||4 3/4||at||576 3/4|
|n/a||down||- - -||at||- - -|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 465 to 501;
|Bids to farmers at River Elevators||378-458;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 352 1/2 to 358 1/2;|
|new crop at Memphis 328 1/2 to - - -;|
|Bids to farmers at River Elevators||317 to 351|
|Chicago Futures:||May||up||1/4||at||350 1/2|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat was pushed lower again today with ample supplies limiting upside potential. The export situation remains highly competitive with the Ukraine aggressively pushing wheat in the export market. July is in position to test support at the early December low just below $5.
Cotton & Rice Date: March 03, 2009
|Spot Price, Grade 41 Staple 34:||Memphis up 23 at 3647|
|Greenwood up 23 at 3647|
|New York Futures:||May||up||23||at||4172|
|- - -||- - -||at||- - -|
|This week's LDP rate for cotton is||17.60 cents|
|The estimate for next week is||18.82 cents|
Cotton was up a little by the end of today’s session, but the market remains extremely bearish. Economic considerations are weighing on the textile market, and this has led to adjustments by China and others. That in turn has reduced import requirements, and reduced U.S. exports. Price has fallen well below the loan level, and that isn’t likely to improve much any time soon.
|Long Grain Cash Bid for||n/a||- - -||to||- - -|
|n/a||- - -||to||- - -|
|Sep||down||4 1/2||at||1176 1/2|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice was slightly lower as the market continued to retrace last week’s gains. Current support is $12 and then the recent low of near $11.50. U.S. milled rice is fairly competitive with Thailand, but remains will above offerings by Vietnam. A late harvest in Vietnam may tighten supplies and firm the market temporarily. Longer term the U.S. needs sales to pick up, or there will need to be adjustments in future supply demand reports.
Cattle & Hogs Date: March 03, 2009
As reported by Federal-State Market News, receipts were 443 head at sales in Fort Smith. Compared with last week, feeder steers sold firm to $3 higher .
|Medium & Large Frame 1||400||to||450 lbs.||115||to||- - -|
|500||to||550 lbs.||103.75||to||- - -|
|600||to||650 lbs.||96.75||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||102||to||- - -|
|Medium & Large Frame 1||400||to||450 lbs.||98||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||86.25||to||- - -|
Slaughter Cows, Boners 37 to 41.50
Light Weight n/a to - - -
Bulls, Yield Grade 1 1000 to 2100 lbs. 53 to 57, high dressing 60-64
Midwest Steers were steady to $3 lower at 79 to - - -
Panhandle Steers n/a at - - - to - - -
|Oklahoma City Feeders
Cattle firmed as yesterday’s sellers took profits today. The question is whether the normal seasonal upturn will be over ridden by the world and U.S. economic situation. Retailers are wary of consumer reaction to any price upturn. Weak packer margins and big showlists will limit gains.
Peoria: were steady at 32.5 to 33
St. Paul sheep shorn slaughter lambs at n/a to - - -
Hog futures improved despite weak pork values. Eastern markets firmed in response to the strong winter storm. Tightening hog supplies would normally lead to seasonal gains, but that may not happen as overall demand remains soft.
Poultry Date: March 03, 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 at best. Supplies of all sizes were at least adequate to satisfy current trade needs. In production areas, live supplies were moderate at mixed, but mostly desirable weights.