(Mar) EAST AR: 867 to 884
(NC) Summ. 744 to 769
(Mar) MISS: 877 to 904 ; AR & White 868 to 883
(NC) Summ. 759 to 789
Ark. Processor Bids: (Mar) 880 to 884 (NC) 764 to 769
Memphis: (Mar) 896 1/2 to 901 1/2 (NC) 783 3/4 to 788 3/4
Riceland Foods: (Mar) Stuttgart 884 ; Pendleton 884 ; West Memphis 904
|Chicago Futures:||May||down||5 1/2||at||876 1/2|
|Jul||down||6 1/4||at||875 1/4|
|Sep||down||15 3/4||at||835 3/4|
|Nov||down||17 3/4||at||823 3/4|
|Jan '10||down||18 1/2||at||833 1/2|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans ended the session lower after failing to hold early gains. Some early private planting guesstimates suggest bean acreage will be up sharply. One even suggests there will be more soybeans planted in the U.S. than corn. If that’s the case, then look for beans to move sharply lower by harvest time, if not before.
Corn managed to end the week on a positive note following yesterday’s big gains with slightly higher closes today. Early gains in crude oil were a contributing factor, but it appeared the market reacted to positive private forecasts of smaller U.S. plantings in ’09. Informa projected just 81.4 million acres of corn in ’09. In the long run that would give corn a solid boost.
Cash bid for March at Memphis 456 1/4 to 458 1/4;
|Bids to farmers at Local Elevators||431-456;|
|Chicago Futures:||May||down||6 3/4||at||518 1/4|
|Jul||down||6 1/2||at||530 3/4|
|Sep||down||6 1/2||at||555 3/4|
|Dec||down||6 1/4||at||577 1/4|
|Mar '10||down||5 3/4||at||583 3/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 569 to 578;
|Bids to farmers at River Elevators||464-544;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 386 1/2 to 388 1/2;|
|new crop at Memphis 366 1/2 to - - -;|
|Bids to farmers at River Elevators||352 to 384|
|Chicago Futures:||May||up||3 1/4||at||388 1/2|
|Jul||up||2 3/4||at||398 1/4|
|Sep||up||2 1/2||at||406 1/2|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat gave back a big portion of yesterday’s gains after July failed to break through trendline resistance at $5.40. This market is dealing with large world supplies, and that will limit the upside.
Cotton & Rice Date: March 13, 2009
|Spot Price, Grade 41 Staple 34:||Memphis up 50 at 38.08|
|Greenwood up 50 at 38.08|
|New York Futures:||May||unchanged||at||4283|
|- - -||- - -||at||- - -|
|This week's LDP rate for cotton is||20.15 cents|
|The estimate for next week is||19.19 cents|
Cotton was steady to slightly lower today with little fresh fundamental information to drive the market. In this week’s report, USDA reduced domestic use by 150,000 bales to just 3.75 million bales. At the same time, exports were raised 500,000 bales reducing projected ending stocks to 7.3 million bales. A slight reduction in China’s ’08 production resulted in an upward revision in their import needs. That in turn boosted the U.S. export number.
|Long Grain Cash Bid for||n/a||- - -||to||- - -|
|n/a||- - -||to||- - -|
|Chicago Futures:||May||down||44 1/2||at||1162 1/2|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice lost ground again today as the lead contract May finished within a few cents of the 68% retracement objective on the monthly charts - $11.46. In the week’s report, USDA made minor adjustments in the supply demand report with overall exports being reduced by 4 million cwt. That was equally split between milled and rough rice, and also long and medium grain. Net results are ending stocks of 30.2 million cwt. USDA also lowered the projected price by 50 cents on both sides of their range. This puts long grain at $14.50 to $15.50 per cwt. The market continues to wait for confirmation on the recent tender by Iraq. That announcement was supposed to be made Tuesday but the offers have been extended for several days.
Cattle & Hogs Date: March 13, 2009
As reported by Federal-State Market News, receipts were 5,685 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.||108||to||- - -|
|500||to||550 lbs.||100||to||- - -|
|600||to||650 lbs.||93||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||97||to||- - -|
|Medium & Large Frame 1||400||to||450 lbs.||93||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||84||to||- - -|
Slaughter Cows, Boners 36 to 44
Light Weight 28 to 32
Bulls, Yield Grade 1 1000 to 2100 lbs. 50 to 57, high dressing untested
Midwest Steers n/a at - - - to - - -
Panhandle Steers n/a at - - - to - - -
|Oklahoma City Feeders
Cattle futures were mostly higher again today. Stronger stock prices and gains in beef values were supportive. The market continues to be under pressure from general economic concerns, however. Traders continue to worry about the strength of beef demand both domestically and globally in light of current economic woes.
Peoria: were steady at 36.5 to 37
St. Paul sheep shorn slaughter lambs at n/a to - - -
Hog futures were also higher in reaction to gains on Wall Street. A seasonal decline in supplies should be supportive. June is trying to build support at $71.
Poultry Date: March 13, 2009
|New York:||Ex. Lg. 96-100; Lg. 94-98; Med. 86-90;|
|Chicago:||Ex. Lg. 85-93; Lg. 83-91; Med. 77-85;|
Eastern Region Turkeys
U.S. Grade A
Trade sentiment was about steady to instances barely steady. Demand entering the weekend was light to fair with trading usually limited to regular commitments. Supplies of all sizes were at least adequate to satisfy trade needs. In production areas, live supplies were moderate at mostly desirable weights.