(March) EAST AR: 851 to 874
(NC) Summ. 720 to 755
(Mar) MISS: 869 to 890 ; AR & White 854 to 870
(NC) Summ. 745 to 775
Ark. Processor Bids: (Mar) 862 to 864 (NC) 750 to 755
Memphis: (Mar) 888 1/2 to 893 1/2 (NC) 775 1/4 to - - -
Riceland Foods: (Mar) Stuttgart 864 ; Pendleton 874 ; West Memphis 881
|Chicago Futures:||May||up||15||at||868 1/2|
|Jul||up||16 1/2||at||867 3/4|
|Sep||up||18 1/4||at||824 1/4|
|Jan '10||up||18 3/4||at||819|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans rebounded early supported by gains on Wall Street and a big move in crude oil. Continued dissension between farmers and the Argentina government provided support and helped boost November above $8.
Corn made across the board gains with good support coming from slow farmer selling. As has been seen in recent days and weeks there is a tight relationship between commodities and the current economic situations, particularly Wall Street.
Cash bid for March at Memphis 457 to 458;
|Bids to farmers at Local Elevators||425-460;|
|Chicago Futures:||May||up||21 1/4||at||523|
|Mar '10||up||20 3/4||at||597 1/2|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 488 to 524;
|Bids to farmers at River Elevators||401-482;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 365 1/2 to 371 1/2;|
|new crop at Memphis 341 3/4 to - - -;|
|Bids to farmers at River Elevators||327 to 364|
|Chicago Futures:||May||up||13||at||363 1/2|
|Sep||up||13 1/4||at||381 3/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat prices rebounded slightly today, following the financial markets higher. There has not been any new fundamental news for the resurgence, so if financial markets fall, so will wheat prices. July wheat has support at around $5.00.
Cotton & Rice Date: March 04, 2009
|Spot Price, Grade 41 Staple 34:||Memphis up 24 at 3671|
|Greenwood up 24 at 3671|
|New York Futures:||May||up||24||at||4196|
|- - -||- - -||at||- - -|
|This week's LDP rate for cotton is||17.60 cents|
|The estimate for next week is||19.08 cents|
Cotton got a boost from indications China will likely provide a stimulus package there. That could help their textile industry and therefore cotton. However, it will take a big move to get futures above loan level.
|Long Grain Cash Bid for||n/a||- - -||to||- - -|
|n/a||- - -||to||- - -|
|Chicago Futures:||May||up||4 1/2||at||1236 1/2|
|Jul||up||5 1/2||at||1254 1/2|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice was slightly higher but still needs to see a jump in milled rice exports. Like other commodities rice is going to be strongly influenced by outside markets unless demand increases significantly.
Cattle & Hogs Date: March 04, 2009
As reported by Federal-State Market News, receipts were 643 head at sales in Conway & Pocahontas. Compared with last week, feeder steers sold firm to $4 higher .
|Medium & Large Frame 1||400||to||450 lbs.||107||to||- - -|
|500||to||550 lbs.||99.50||to||- - -|
|600||to||650 lbs.||88||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||n/a||to||- - -|
|Medium & Large Frame 1||400||to||450 lbs.||90.75||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||83||to||- - -|
Slaughter Cows, Boners 37 to 44
Light Weight 25 to 32
Bulls, Yield Grade 1 1000 to 2100 lbs. 48 to 55, high lean cows 25-32
Midwest Steers remained at 79 to - - -
Panhandle Steers were quoted at 79 to - - -
|Oklahoma City Feeders
Cattle prices continued to firm slightly. The question is still 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.
Peoria: were steady at 32.5 to 33
St. Paul sheep shorn slaughter lambs at n/a to - - -
Hog futures continue to improve 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 04, 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 mostly steady. Demand was fair, at times moderate for active feature activity. Supplies of all sizes were sufficient to satisfy current trade needs. In production areas, live supplies were moderate at mixed, but mostly desirable weights.