(Mar) EAST AR: 850 to 872
(NC) Summ. 725 to 760
(Mar) MISS: 867 to 894 ; AR & White 857 to 874
(NC) Summ. 750 to 780
Ark. Processor Bids: (Mar) 860 to 869 (NC) 755 to 760
Memphis: (Mar) 892 to - - - (NC) 780 to - - -
Riceland Foods: (Mar) Stuttgart 869 ; Pendleton 872 ; West Memphis 889
|Jan '10||up||15 1/2||at||823 3/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans finished the week on a good note with decent gains despite another down day on Wall Street. The big kicker was a weaker $ which helps boost export potential. Otherwise there doesn’t seem to be much working for soybeans. Next week’s supply demand report is expected to be a relatively quiet event with no substantial changes. For now, take a November close above $8 as a positive, but probably needs additional news to hold it there.
Corn made across the board gains, but again there appeared to be little fresh fundamental news available. Next week’s report could lower corn usage, but with a grain stocks report due later this month, they can be inclined to wait until April to make adjustments. The possibility of corn continuing in a sideways pattern over the next several weeks is enhanced by the fact that is a typical seasonal pattern for this time of year.
Cash bid for March at Memphis 462 to - - -;
|Bids to farmers at Local Elevators||429-464;|
|Jul||up||11 3/4||at||538 3/4|
|Dec||up||11 1/2||at||583 1/2|
|Mar '10||up||10 1/4||at||599 3/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 521 to - - -;
|Bids to farmers at River Elevators||398-478;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 366 1/2 to 369 1/2;|
|new crop at Memphis 339 1/4 to - - -;|
|Bids to farmers at River Elevators||325 to 362|
|Chicago Futures:||May||up||3||at||361 1/2|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat posted solid gains today. Today’s weakness in the dollar was probably just a corrective pullback, but it gave the market a boost anyway. July is still trending lower, however, with overhead resistance near $5.50.
Cotton & Rice Date: March 06, 2009
|Spot Price, Grade 41 Staple 34:||Memphis up 5 at 3618|
|Greenwood up 5 at 3618|
|New York Futures:||May||down||76||at||4214|
|- - -||- - -||at||- - -|
|This week's LDP rate for cotton is||19.21 cents|
|The estimate for next week is||20.24 cents|
Cotton closed mixed and show little upward propensity despite gains in most of the grains. 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||up||17 1/2||at||1233|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice closed higher on the potential sale of Iraq on their earlier 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 06, 2009
As reported by Federal-State Market News, receipts were 8,050 head at sales in Arkansas this week. Compared with last week, feeder steers sold mostly firm to $3 higher .
|Medium & Large Frame 1||400||to||450 lbs.||109.75||to||- - -|
|500||to||550 lbs.||103||to||- - -|
|600||to||650 lbs.||93.25||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||96.75||to||- - -|
|Medium & Large Frame 1||400||to||450 lbs.||96.50||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||88.50||to||- - -|
Slaughter Cows, Boners 37 to 44
Light Weight 26 to 32
Bulls, Yield Grade 1 1000 to 2100 lbs. 50 to 58, high dressing 58-61
Midwest Steers were $3 higher at 82 to - - -
Panhandle Steers were $3 higher at 82 to - - -
|Oklahoma City Feeders
Cattle prices turned lower after opening higher on the weaker dollar. The market continues to be under pressure from 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 33 to 35
St. Paul sheep shorn slaughter lambs at n/a to - - -
Hog futures ended a bit higher. Tightening hog supplies would normally lead to seasonal gains, but that may not happen as overall demand remains soft.
Poultry Date: March 06, 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 more than adequate to satisfy trade needs. In production areas, live supplies were moderate at mostly desirable weights.