(Mar) EAST AR: 899 to 914
(NC) Summ. 781 to 806
(Mar) MISS: 912 to 934 ; AR & White 897 to 912
(NC) Summ. 793 to 826
Ark. Processor Bids: (Mar) 913 to 914 (NC) 801 to 806
Memphis: (Mar) 929 to 937 (NC) 820 3/4 to 825 3/4
Riceland Foods: (Mar) Stuttgart 914 ; Pendleton 914 ; West Memphis 934
|Jul||down||25 1/4||at||915 1/4|
|Sep||down||21 1/4||at||871 3/4|
|Nov||down||19 3/4||at||860 3/4|
|Jan '10||down||19||at||871 1/2|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans ended the day on a weak note with further unwinding of the bull spread ahead of Tuesday’s report. Old crop contracts were sharply lower as a result. A big upmove in the dollar and lower crude oil just added to the negative undertone. There were also reports that China is going to sell a substantial quantity of government stocks in local areas. No doubt this is negative for near term export demand. November dropped below previous support around $8.80, giving the chart a bearish look.
Corn was also lower today, but seemed to be under much less pressure than beans. Pre-report estimates on planting intentions for corn are all over the place, ranging from 80 to 89 million acres with an average of 84.3 million acres. The current price ratio of November beans to December corn at 2.06 to 1 would seem to favor corn.
Cash bid for March at Memphis 437 1/4 to 447 1/4;
|Bids to farmers at Local Elevators||420-445;|
|Chicago Futures:||May||down||7 1/4||at||507 1/4|
|Sep||down||6 3/4||at||545 3/4|
|Dec||down||6 3/4||at||569 1/2|
|Mar '10||down||6 1/2||at||585|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 575 to - - -;
|Bids to farmers at River Elevators||471-551;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 382 to - - -;|
|new crop at Memphis 367 to - - -;|
|Bids to farmers at River Elevators||352 to 377|
|Chicago Futures:||May||down||3 3/4||at||387|
|Jul||down||3 3/4||at||397 1/2|
|Dec||down||3 1/2||at||407 1/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat futures turned lower today, mostly on the influence of outside markets. Improvement in the value of the dollar and declines in both stocks and crude oil resulted in lower prices in the wheat pit. Also, the weather premium that has been built into this market due to dry conditions in the Plains is disappearing, as that part of the country has received much-needed precipitation in recent days, giving the crop a boost.
Cotton & Rice Date: March 27, 2009
|Spot Price, Grade 41 Staple 34:||Memphis down 62 at 3859|
|Greenwood down 62 at 3859|
|New York Futures:||May||down||62||at||4334|
|n/a||down||- - -||at||- - -|
|This week's LDP rate for cotton is||18.17 cents|
|The estimate for next week is||18.29 cents|
Cotton continued yesterday’s decline with December falling below 49 cents. There is obviously a demand problem as the market continues to trade at extremely low levels. With a loan rate of 52 cents the market will need to be above 60 cents to offer producers any real advantage. That doesn’t appear to be in the cards, near term. If next week’s intentions report throws the market a curve ball, it could help start a revival, but in any case it will be a while before the market makes any significant gains.
|Long Grain Cash Bid for||n/a||- - -||to||- - -|
|n/a||- - -||to||- - -|
|Chicago Futures:||May||down||24||at||1237 1/2|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice continues to work in a sideways consolidation pattern with little indication the market is ready to make any long term move. Medium grain rice continues to steal the show, but the mid-South seed supply is limited. Long grain export sales got a boost with last week’s confirmed sales to Iraq, but the market needs more. There is still concern that Thailand will release government intervention stocks into the market at any time. This year’s plantings are expected to be up slightly from last year, but who knows. Some decisions will be made on the fly – depending on weather and planting conditions.
Cattle & Hogs Date: March 27, 2009
As reported by Federal-State Market News, receipts were 9,980 head at sales in Arkansas this week. Compared with last week, feeder steers sold mostly steady to $2 higher. Feeder heifers sold mostly $2-4 higher .
|Medium & Large Frame 1||400||to||450 lbs.||111.75||to||- - -|
|500||to||550 lbs.||101.75||to||- - -|
|600||to||650 lbs.||94.50||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||97.50||to||- - -|
|Medium & Large Frame 1||400||to||450 lbs.||96.25||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||86.50||to||- - -|
Slaughter Cows, Boners 43.50 to 50
Light Weight 28 to 34
Bulls, Yield Grade 1 1000 to 2100 lbs. 53 to 58, high dressing $58-63
Midwest Steers were steady to $1 higher at 81 to 83
Panhandle Steers remained at 83 to - - -
|Oklahoma City Feeders
Cattle futures were lower again today. Weakness in crude oil and strength in the value of the dollar were factors. Demand concerns continue to plague the market as well. Retailers report it is difficult to keep beef moving through the pipeline. Heavier weight cattle are coming to market as well, meaning more choice cuts are available.
Peoria: were steady at 34.5 to 35
St. Paul sheep shorn slaughter lambs at n/a to - - -
Hogs were mostly lower on continued demand worries. A sharp drop in cutout values this week is expected to curtail packer demand.
Poultry Date: March 27, 2009
|New York:||Ex. Lg. 114-118; Lg. 112-116; Med. 86-90;|
|Chicago:||Ex. Lg. 94-102; Lg. 92-100; Med. 77-85;|
Eastern Region Turkeys
U.S. Grade A
Trade sentiment was steady at best. Demand entering the weekend was no better than fair with trading usually limited to regular commitments. Supplies of all sizes were mostly sufficient to satisfy current trade needs. In production areas, live supplies were moderate at mostly desirable weights.