Daily Arkansas Market Report for 5/4/2007
--------------------------------------------------------------------------
Grain & Soybean Date: May 05, 2007
Soybeans
Local Elevators:
(May) EAST AR: 683 to 710
(NC) Summ. 719 to 742
River Elevators
(May) MISS: 703 to 711 ; AR & White 683 to 703
(NC) Summ. 719 to 742
Ark. Processor Bids: (May) 701 to 709 (NC) 739 to 742
Memphis: (May) 712 1/2 to 715 1/2 (NC) 354 1/2 to 356 1/2
Riceland Foods: (NC) Stuttgart 709 ; Pendleton 710 ; West Memphis 711
Chicago Futures: Jul down 1/4 at 747 1/2
Aug down 2 at 753 1/2
Nov down 1/2 at 776 1/4
Jan down 1 at 784 1/2
Nov '08 down 1 1/4 at 813
Today's Arkansas LDP rate for soybeans is 0¢
Wheat
Cash bid for new crop at Memphis 464 3/4 to - - -;
Bids to farmers at Local Elevators 441-452;
River Elevators 440-463;
Chicago Futures: Jul up 1/4 at 494 3/4
Sep up 1 1/2 at 506
Dec up 1/2 at 515 1/2
Jul '08 up 1 1/2 at 496
Jul '09 up 3 at 494
Today's Arkansas LDP rate for wheat is 0¢
Grain Sorghum
Cash bid for new crop at Memphis 612 to 617;
Bids to farmers at
River Elevators 596-661;
Today's Arkansas LDP rate for sorghum is 0¢
Corn
Cash bid for May at Memphis 388 3/4 to 392 3/4;
New crop at Memphis 354 1/2 to 356 1/2;
Bids to farmers at River Elevators 367 to 380
Chicago Futures: Jul up 1 1/2 at 390 3/4
Sep up 2 1/2 at 389 1/2
Dec up 3 1/4 at 390 1/2
Dec '08 up 1/2 at 397 3/4
Today's Arkansas LDP rate for corn is 0¢
Grain Comment
Soybean prices closed the day relatively unchanged. Large carryover stocks and the potential for acreage shift from corn to soybeans continues to pressure prices. Corn prices rose today as rain continue across the corn belt. Given the current weather situation trade was relatively light today, posing the question what will Monday look like as another round of showers is forecast to cross the corn belt Sunday through Tuesday.
Wheat prices traded sideways today. Hopefully the market has absorbed most of the news from the Kansas wheat tour which should help stabilize prices in the near term. Price outlook will have a hard time strengthening as reports indicate that Oklahoma, Colorado and perhaps Texas are headed for record high yields. This would more than offset devastating losses in Arkansas and Missouri.
--------------------------------------------------------------------------
Cotton & Rice Date: May 04, 2007
Cotton
Spot Price, Grade 41 Staple 34: Memphis down 12 at 4353
Greenwood down 12 at 4353
New York Futures: Jul down 12 at 4828
Oct down 5 at 5150
Dec up 6 at 5311
Mar up 30 at 5615
Dec '08 up 23 at 6008
This week's LDP rate for cotton is 11.70 cents.
The estimate for next week is 12.06 cents.
Cotton Comment
November rice found support from yesterdays' gains, and broke through both resistance points pointed out yesterday to close just below the contract high of 11.58. The rice move today appears to be a technical move for prices to remain this high new fundamentals will have to be realized.
Rice
Long Grain Cash Bid for May 900 to 950/cwt
Jun 900/cwt to - - -
Chicago Futures: Jul up 35 at 1073
Sep up 36 at 1108
Nov up 28 at 1130
Jan up 28 at 1155
Today's Arkansas LDP rate for long grain rice is is 0¢ cents
medium grain rice is 0¢ cents
Rice Comment
Cotton prices traded sideways today, experiencing very small gains. Cotton prices continue to have difficulty finding any support. Until exports begin to show signs of life cotton will have to wait for some kind of technical move to raise prices.
--------------------------------------------------------------------------
Cattle & Hogs Date: May 04, 2007
Cattle
As reported by Federal-State Market News, receipts were 8,920 head at sales in Arkansas this week.
Compared with last week, feeder steers under 600 lbs. sold $2-$5 lower, over 600 lbs. $2-$4 higher.
Steers:
Medium & Large Frame 1 400 to 450 lbs. 121 to 131
500 to 550 lbs. 112 to 122
600 to 700 lbs. 106 to 116
to lbs. to
Medium & Large Frame 2 400 to 450 lbs. 111 to 121
Heifers:
Medium & Large Frame 1 400 to 450 lbs. 108 to 118
Medium & Large Frame 2 400 to 450 lbs. 100 to 110
Slaughter Cows, Boners 47 to 53
Light Weight 36 to 43
Bulls, Yield Grade 1 1000 to 2100 lbs. 59 to 64.50, high dressing $64.50-$69
Midwest Steers were $2.50 higher at 96.50 to - - -
Panhandle Steers were $.50-$1 higher at 96 to 96.50
Oklahoma City Feeders Steers 500 to 550 lbs. 117 to 132
600 to 650 lbs. 110 to 131
Heifers 500 to 550 lbs. 103 to 118.50
600 to 650 lbs. 102.50 to 116
Chicago Futures:
Live Cattle: Jun up 45 at 9217
Dec up 5 at 9487
Feeders: Aug down 37 at 10927
Oct down 12 at 10872
Hogs
Peoria: were steady to $.50 higher at 49 to 49.50
Chicago Futures: Jun up 130 at 7482
Oct up 32 at 6592
Sheep
St. Paul Sheep shorn slaughter lambs choice end prime 110-125 lbs. were at n/a to - - -
Livestock Comment
June live cattle prices experienced small gains today, as cash prices strengthened somewhat after yesterday's sharp declines. However, there is little fundamental support on the horizon to trigger a rebound in price. Live cattle prices have strong support at $89-90.
Cash hog prices began to strengthen today adding support to May hogs helping them close with gains for the first time in days. Hog prices have support at $75.
--------------------------------------------------------------------------
Poultry Date: May 04, 2007
Eggs
New York: Ex. Lg. 106-110; Lg. 104-108; Med. 95-99;
Chicago: Ex. Lg. 95-103; Lg. 93-101; Med. 85-93;
Eastern Region Turkeys
Hens: 8-16 lbs. 75-77
Toms: 16-24 lbs. 75-77
Delmarva Broilers
U.S. Grade A
Majority prices for next week were trending higher in the Midwest and East, but unchanged in the West. Trade sentiment was steady in the West, steady to firm elsewhere. In production areas, live supplies were moderate at mostly desirable weights.
-----------------------------------------------------
HOW TO UNSUBSCRIBE
You are receiving this newsletter because you requested that your email address be added to the Arkansas Farm Bureau Daily Market Report.
To unsubscribe or change your subscription information, go to
http://www.arfb.com/commodity/daily_rpt_email.asp
-----------------------------------------------------
QUESTIONS OR COMMENTS?
If you have any comments or questions about this e-newsletter please
e-mail us at mktrpt@arfb.com
Arkansas Farm Bureau
10720 Kanis Road
Little Rock, AR 72211
501-224-4400
Copyright 2005
Arkansas Farm Bureau, Inc.
All rights reserved
--------------------------------------------------------------------------
No comments:
Post a Comment