(Mar) EAST AR: 835 to 857
(NC) Summ. 710 to 745
(Mar) MISS: 852 to 879 ; AR & White 842 to 859
(NC) Summ. 734 to 765
Ark. Processor Bids: (Mar) 845 to 854 (NC) 740 to 745
Memphis: (Mar) 877 to - - - (NC) 764 1/2 to - - -
Riceland Foods: (Mar) Stuttgart 854 ; Pendleton 857 ; West Memphis 874
|Chicago Futures:||May||down||16 1/2||at||852|
|Jul||down||16 1/2||at||851 1/4|
|Nov||down||10 3/4||at||799 1/2|
|Jan '10||down||10 3/4||at||808 1/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans gave back most of yesterday’s gains and resumed the recent downtrend. Low export sales, including a sizeable cancellation, contributed to the negative undertone as did losses on Wall Street, a stronger and declining crude oil. In other words, soybeans didn’t have much going their way. The quick reversal of yesterday’s correction is a sign of how bearish the situation appears.
Corn had a decent export number but overall exports are trailing year ago sales by 42%, and must increase to meet USDA’s export projection. For now, the trend remains down and there doesn’t appear to be enough “Pop” to turn that trend at this point.
Cash bid for March at Memphis 450 to - - -;
|Bids to farmers at Local Elevators||417-452;|
|Mar '10||down||8||at||589 1/2|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 515 to - - -;
|Bids to farmers at River Elevators||392-473;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 366 1/2 to - - -;|
|new crop at Memphis 336 1/4 to - - -;|
|Bids to farmers at River Elevators||322 to 359|
|Chicago Futures:||May||down||5||at||358 1/2|
|Sep||down||5 1/2||at||376 1/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat followed soybeans and outside markets lower today. This market is clearly trending lower. The drought in the Southern Plains is limiting losses to some degree, but this market is dealing with excess supplies too, and that will keep a lid on things. July wheat has support at around $5.00.
Cotton & Rice Date: March 05, 2009
|Spot Price, Grade 41 Staple 34:||Memphis down 58 at 3613|
|Greenwood down 58 at 3613|
|New York Futures:||May||down||58||at||4138|
|n/a||down||- - -||at||- - -|
|This week's LDP rate for cotton is||17.60 cents|
|The estimate for next week is||19.21 cents|
Cotton followed the grains and moved lower again today. Fundamentals are unchanged with poor U.S. and world economics weighing on cotton use. That in turn weighs on U.S. exports. Current price levels are well below the government loan for cotton. In other words, the market is not really relevant.
|Long Grain Cash Bid for||n/a||- - -||to||- - -|
|n/a||- - -||to||- - -|
|Chicago Futures:||May||down||18 1/2||at||1215 1/2|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice futures were also lower as the market waits to see if the U.S. will garner some or all of a sizeable Iraq tender. With Vietnam issuing a temporary export ban, it leaves much of the market to the U.S. or Thailand. U.S. mills apparently are willing to discount their price in an attempt to get this business. For now, the futures market continues to trade in concert with Wall Street.
Cattle & Hogs Date: March 05, 2009
As reported by Federal-State Market News, receipts were 1,926 head at sales in Charlotte & Green Forest. Compared with last week, feeder steers sold mostly firm to $4 higher .
|Medium & Large Frame 1||400||to||450 lbs.||112||to||- - -|
|500||to||550 lbs.||106.50||to||- - -|
|600||to||650 lbs.||96.75||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||102.50||to||- - -|
|Medium & Large Frame 1||400||to||450 lbs.||93||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||84.50||to||- - -|
Slaughter Cows, Boners 37 to 43
Light Weight 30 to 35
Bulls, Yield Grade 1 1000 to 2100 lbs. 50 to 56.50, high dressing 50-60
Midwest Steers remained at 79 to - - -
Panhandle Steers remained at 79 to - - -
|Oklahoma City Feeders
|Steers||n/a||to||- - - lbs.||- - -||to||- - -|
|n/a||to||- - - lbs.||- - -||to||- - -|
|Heifers||n/a||to||- - - lbs.||- - -||to||- - -|
|n/a||to||- - - lbs.||- - -||to||- - -|
Cattle prices turned lower as well, under pressure from renewed weakness in the stock market and general economic concerns. Traders continue to worry about the strength of beef demand both domestically and globally in light of current economic woes.
Peoria: were $1 higher at 32 to 34
St. Paul sheep shorn slaughter lambs at n/a to - - -
Hog futures were mixed in reaction to weakness in outside markets. Tightening hog supplies would normally lead to seasonal gains, but that may not happen as overall demand remains soft.
Poultry Date: March 05, 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. Demand was mostly light to fair with limited trading activity. Supplies of all sizes were readily available to satisfy current trade needs. In production areas, live supplies were moderate at mixed, but mostly desirable weights.