Thursday, January 31, 2008

FWD: Morning Manna (Feb. 1); BP: Ps. 61; RBTTY: Mt. 21:1-22; Ex. 27-28

 
Samuel D. High
sdhigh@aristotle.net

 



-----Original Message-----
From: Apostle Tom <pressingon@hotmail.com>
Sent: Thu, 31 Jan 2008 16:40:46 -0600
To: <pressingon@hotmail.com>
Subject: Morning Manna (Feb. 1); BP: Ps. 61; RBTTY: Mt. 21:1-22; Ex. 27-28
 

February 1                                                                                                         “The Cry of Desperation”

 

“Hear my cry, O God; attend unto my prayer.  From the end of the earth will I cry unto You, when my heart is overwhelmed.  Lead me to the Rock that is higher than I.”

                                                                                                                                                 Psalm 61:1-2

The greatest prayers we’ll ever pray

Are not those that arise so quickly,

For they’re often shallow, given with little thought

That spring from the lips so insincerely.

 

Like feeble arrows shot upward,

They rise and quickly fall;

So soon forgotten by the one who prayed

And the One on Whose Name they did call.

 

Fervent prayers are effectual prayers,

For they spring from the soul’s deepest part;

They’re often accompanied “with strong crying and tears,”

For they arise from the depths of our heart.

 

No clever ditty are these desperate cries

Or eloquent utterances are they;

Instead, they’re fervent, soul-wrenching pleas

That no human word can adequately say.

 

Like wrestling with a stronger man,

That leaves us powerless and weak,

In prayer we must wrestle and deeply groan

As the Father’s blessings we do seek.

 

He is no stingy tyrant,

This Giver of gifts so good;

He simply longs for us to pray with sincere hearts

As the Spirit helps us pray as we should.

 

Like a child who longs for his mother’s arms

Or someone who’s wandered and lost,

So we should pray deep, desperate prayers

By crying, “Oh, Lord, whatever the cost!”

 

Oh, help us, Lord, to pray this way—

These prayers of deep petition;

For only then will we touch Your holy heart

As we pray with heartfelt desperation.

                                                                                    --Tom Smith

01/31/2008 Farm Bureau Market Report

Click here to view this report online.

Arkansas Farm Bureau
Arkansas Farm Bureau
Grain & Soybean Date: January 31, 2008

Soybeans

Local Elevators:
(Jan) EAST AR:  1229 to 1251
(NC) Summ. 1156 to 1188
River Elevators:
(Jan) MISS: 1215 to 1279 ; AR & White 1241 to 1251
(NC) Summ. 1158 to 1191
Ark. Processor Bids: (Jan) 1235 to 1245  (NC) 1179 to 1181
Memphis:  (Jan) 1270 1/2 to 1274 1/2 (NC)  1190 1/2 to - - -
Riceland Foods:  (NC) Stuttgart 1245 ; Pendleton 1251 ; West Memphis 1274

Chicago Futures: Mar up 1 1/4 at  1274 1/2
  May  up  1 1/2  at  1292 1/2
  Jul unchanged   at  1307 1/4
  Nov '08 up 16 1/4  at  1245 1/2
  Nov '09 up 17 1/2  at  1201 1/2
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Nearby soybean prices declined slightly as new crop soybean prices increased. Weakening in crude oil prices and optimism about the South American crop weakened the nearby prices today; however, there is still a lot concern about next year's supply. With the planting intentions report right around the corner soybeans cannot afford to give up much, especially with many Midwest crop plans showing a corn-to-soybeans ratio of 2.7. Soybeans will need to see an acreage number close to 70 million acres in order to meet demand in 2008/09.

Wheat
Cash bid for new crop at Memphis  773 1/2 to 778 1/2;

Bids to farmers at Local Elevators 754-776;
River Elevators 756-779;

Chicago Futures: Mar up  at  929 1/2 
  May up 6 1/2  at  945 1/2 
  Jul up  7 1/4  at  873 1/2 
  Sep up  4 1/2  at  877 1/2 
  Jul '09 up  10  at  852 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for January at Memphis  922 to 929;

Bids to farmers at River Elevators 832-841;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for January at Memphis   499 1/4 to - - -;
  new crop at Memphis   484 1/4 to 487 1/4;
Bids to farmers at River Elevators  477 to 492

Chicago Futures: Mar up  2 3/4  at  501 1/4 
  May up  at  513 1/4 
  Sep up  at  519 1/4 
  Dec up  5 3/4  at  515 3/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
After declining most of the day, wheat prices managed to close the day up recouping most of yesterday’s losses. Wheat export sales remained supportive as sales continue to come in at a pace above the USDA marketing year forecast. Corn prices also experience gains today as export sales continue to exceed the USDA forecast. Corn prices continue the acreage fight with soybeans and must remain competitive with soybeans as some are forecasting next years corn production at 13.5 billion bushels. For comparison, we produced 13 billion bushels this year.



Cotton & Rice  Date: January 31, 2008


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 77 at  6304
  Greenwood down  77 at 6304

New York Futures: Mar down  68  at  6788 
  May down  66  at  6977 
 Jul down  71  at  7155 
 Dec down  56  at  7647 
 Mar '09 down  79  at  7847 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton prices opened the day lower and continued to fall, however, prices managed to rebound late and close the day with only a marginal decline. Cotton prices remain well above key support levels, but are having a hard time finding anything to spring them out of their sideways trading. The large carryover stocks in cotton are pressuring prices and to a large extent they are preventing cotton from being a major consideration in the acreage battle that is occurring in the other commodities.

Rice

Long Grain Cash Bid for  Feb/Mar 1242  to  1307/cwt
  - - - - - -  to  - - -

Chicago Futures: Mar up  22  at  1484 
 May up  20  at  1515 
 Sep up  10  at  1474 
 Nov up  10  at  1490 
 n/a up  - - -  at  - - - 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice prices set a new contract high for the second day in a row. Strong world demand and tight stocks continue to support rice prices. Despite recent increases in prices, it is probable that rice plantings may decline as producers opt to move some land into soybeans or corn.



Cattle & Hogs  Date: January 31, 2008

Cattle
As reported by Federal-State Market News, receipts were 1,888 head at sales in Charlotte, Ratcliff & Green Forest.  Compared with last week, feeder steers sold mostly $2-6 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 113 to 123
  500 to 550 lbs. 106 to 116
  600 to 700 lbs. 97 to 107
 Medium & Large Frame 2   400 to 450 lbs. 100 to 110

Heifers:
 Medium & Large Frame 1   400 to 450 lbs. 95 to 105
 Medium & Large Frame 2   400 to 450 lbs. 90 to 100

Slaughter Cows, Boners 46   to   48
Light Weight 32 to 37
Bulls, Yield Grade   1-2   1000   to   2100 lbs.   54   to   59.50, high dressing $62.50-67
Midwest Steers   were steady   at   88   to   - - -
Panhandle Steers   were steady   at   88   to   - - -

Oklahoma City Feeders
Steers 500 to 550 lbs. 117 to 126
  600 to 650 lbs. 105 to 110.50
Heifers 500 to 550 lbs. 99 to 112
  600 to 650 lbs. 94.75 to 96.25

Chicago Futures:
Live Cattle: Feb down 45 at 9090
  Jun steady at 9352
Feeders: Mar up 15 at 10525
  Apr up 7 at 10905

Cattle Comment
Cattle prices closed the day mixed. Early declines in the stock market seemed to pressure prices lower; however as the market rebounded live cattle contracts stalled. Combine the current market situation with negative packer margins and you can see why live cattle prices are having a hard time finding any support.

Hogs
Peoria: were     steady   at   31.5   to   32

Chicago Futures: Apr up 35 at 6645
  Jun down 45 at 7817

Sheep
St. Paul sheep shorn slaughter lambs   at   n/a   to   - - -

Hogs Comment
Hog prices closed the day mixed. Many hog prices continue to inch higher above the recent contract lows. As cash hog prices continue to strengthen, so will the futures price. As slaughters continue to run ahead of year ago levels, February hog prices are approaching resistance at $58.80.



Poultry  Date: January 31, 2008

Eggs

New York:  Ex. Lg. 156-160; Lg. 154-158; Med. 138-142;
Chicago:  Ex. Lg. 146-154; Lg. 144-152; Med. 130-138;

Eastern Region Turkeys
Hens: 8-16 lbs. 74-77
Toms: 16-24 lbs. 74-77
 

Delmarva Broilers
U.S. Grade A
Trade sentiment was mostly steady. In production areas, live supplies were moderate at mostly desirable weights.

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501-224-4400

Copyright 2008
Arkansas Farm Bureau, Inc.
All rights reserved
Terms of Use

Farm Bill Veto Threat, Farmers Visit the Hill, Super Tuesday and more

American Farmland Trust

Farm Policy Update January 31, 2008

Veto Threat Looms over Farm Bill

Market Day
Our farm bill progress is at risk! Contact Congress now to get the farm bill passed.

Take Action Now

A shadow of doubt is looming over the farm bill as Congress and the White House can’t agree on critical aspects of the legislation, including funding sources and subsidies. The White House has characterized the revenue generating components as tax hikes. Congress members point out that new revenue sources are critically needed to fund conservation, food stamps and renewable energy programs—and they are desperately seeking funding sources acceptable to the White House. Newly appointed Secretary of Agriculture Ed Schafer will take the helm of the deadlocked negotiations to hopefully move both sides toward resolution. A veto would be a disaster for America’s farmers, ranchers, communities and the environment. Let Congress know they must get a farm bill passed this winter.

 

Will Funding for Conservation Increase in the Farm Bill


Farmers Visit Members of Congress to Push for Farm Bill Priorities

Ernie Averett, North Carolina farmer, Tar River Land Conservancy
"Environmental and conservation issues are important to farmers," says North Carolina farmer Ernie Averett. Averett joined Iowa farmers Jim Andrew and Varel Bailey this week for personal visits to Capitol Hill to let legislators know which issues like working lands conservation and the Senate's version of Average Crop Revenue can't be ignored during farm bill conference negotiations. AFT’s Action Network members from cities and towns across the country are sharing their reasons why Congress must support priorities such as local food and farmland protection: "My wife and I are both committed to supporting local farmers' markets…we hope the farm bill as passed will contain provisions that will reward these farmers' hard work and include the incentives needed for them to profitably continue their efforts on our behalf." 

Farm and Food Policy Critical to Super Tuesday States

Twenty-four states go to the polls on February 5th to decide their party’s nominee for President. In each of these important primary states, farm and food policy is critical—affecting every voter at the grocery store, at the gas station or in their child’s school. But we don’t hear much from the candidates on their farm and food policy positions. Take the opportunity to raise the issue and tell them that to get your vote they must support more conservation funding for a cleaner environment, healthy local foods to build stronger communities, and a better safety net for all farmers.

Media Update

The Right Safety Net
The St. Paul Pioneer Press published a thought-provoking editorial on the difficult decisions facing Congress. "We're hoping the president's veto threat will help Congress tighten its focus as it works through the final details of the new farm bill, which will have a marked impact on farmers and rural communities…[and should contain a safety net with the right amount of padding.]"

Important Steps Forward
John Keeling of the National Potato Council, and a leader in the specialty crops community, told Brownfield Network, "There’s been a lot of good, solid work that’s gone into this [farm] bill. It represents some important steps forward for American agriculture and we need to get it in place."

Farm Bill Conservation Programs Key to Birds and Wildlife
Conservationists around the country are joining AFT in spreading the message that the farm bill contains programs critical to the health of working lands, birds and wildlife. This Capital Times article gets it right! 



© Copyright 2006, American Farmland Trust. All rights reserved.
1200 18th Street, Suite 800
Washington, DC 20036
(202)-331-7300

FWD: Morning Manna (Jan. 31); BP: Lk. 15:25-32; RBTTY: Mt. 20:17-34; Ex.

 
Samuel D. High
sdhigh@aristotle.net

 



-----Original Message-----
From: Apostle Tom <pressingon@hotmail.com>
Sent: Wed, 30 Jan 2008 19:29:21 -0600
To: <pressingon@hotmail.com>
Subject: Morning Manna (Jan. 31); BP: Lk. 15:25-32; RBTTY: Mt. 20:17-34; Ex.
 

January 31                                                                                                  “On the Outside Looking In”

 

“And he was angry and would not go in; therefore, came his father out and entreated him.”

                                                                                                                                                   Luke 15:28

     Resentment and bitterness quench the Father’s joy and grieve the Holy Spirit, causing one to always miss out on God’s Party.

     Quite often we overlook this last part of Jesus’ “Parable of the Prodigal Son and the Rejoicing Father” (vv.11-32).  However, in doing so we miss out on a very important part of the story—one that certainly needs to be heard by everyone who professes to be a child of God.

 

     The older brother was out working in the field when his wayward brother returned home that day (v.25).  No doubt he’d worked in those same fields every day since the young upstart had left.  And, based on his reaction (vv.28-30), it’s very possible he was upset because the “fatted calf” they killed for the brother’s “homecoming party” (vv.23, 27) was one he’d been fattening up for himself.

 

     Regardless, one thing was clear:  He was upset and he wasn’t about to go to the party!

     “How dare he (the father) throw a party for that no-good, lazy, ungrateful, bum-of-a-brother when I stayed home. . .did everything my father said. . .worked long, hard hours out in the hot sun... and for what?!? 

     “Did Dad throw me a party while he was gone?  No!  Did he hire a band and kill a fatted calf for me?  No!  Why, he didn’t even send anyone out to get me before starting the party!  I had to find out for myself after having slaved all day long out in those stupid fields!  I’m not about to go in!!”

 

     Sound familiar, Pilgrim?

     Just because we grow older and our bodies grow bigger doesn’t mean we cease in our childish attitudes and actions.  And, even though we walk an aisle, get baptized, join a church and are there every time the door’s open doesn’t mean we’ll never act like the older brother.

 

     No, the flesh is fickle and pride is strong.  The seed of resentment will soon grow into the “root of bitterness” (Heb. 12:15).  The tender heart will become cold and hard if the sins of hatred, contempt, vindictiveness, etc., are allowed to flourish.  And, before long, there’ll be no “joy in the morning” (Ps. 30:5b); instead, there’ll only be seething hostility, unforgiveness and a critical spirit.

 

     We must notice the father came out and strongly urged the son to come in, but he refused (vv.29-30).  The father’s pleas fell on deaf ears, even though he tried to reason with him on why they were rejoicing (vv.31-32). 

 

     Oh, dear Pilgrim, there’s many a person who darkens a church door every Sunday who’s always “on the outside looking in.”  They can’t enjoy “God’s Party” because of unconfessed and unrepented of sins in their heart.  May we allow the Holy Spirit to show us today if Jesus’ joy is operational in us (Jn. 15:11).

 

    

Wednesday, January 30, 2008

01/30/2008 Farm Bureau Market Report

Click here to view this report online.

Arkansas Farm Bureau
Arkansas Farm Bureau
Grain & Soybean Date: January 30, 2008

Soybeans

Local Elevators:
(Jan) EAST AR:  1223 to 1245
(NC) Summ. 1139 to 1171
River Elevators:
(Jan) MISS: 1216 to 1279 ; AR & White 1235 to 1251
(NC) Summ. 1141 to 1174
Ark. Processor Bids: (Jan) 1236 to 1239  (NC) 1262 to 1264
Memphis:  (Jan) 1271 3/4 to 1275 3/4 (NC)  1174 1/4 to - - -
Riceland Foods:  (NC) Stuttgart 1239 ; Pendleton 1245 ; West Memphis 1268

Chicago Futures: Mar up 9 at  1275 3/4
  May  up  8 1/2  at  1294
  Jul up 10 1/4  at  1307 1/4
  Nov '08 up 6 1/2  at  1229 1/4
  Nov '09 up 5 1/2  at  1184
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans reclaimed early losses and ended the session on a positive note. Recent projections putting ’08 soybean plantings over 70 million acres pressured early dealings. However, the market started correcting before midday and was helped by the Federal Reserve’s announcement of lowering the interest rate another half point. Technically, the market is in a consolidation mode with key support at last week’s low of $11.67 ½ and resistance at the $13.04 ½ contract high.

Wheat
Cash bid for new crop at Memphis  766 1/4 to 771 1/4;

Bids to farmers at Local Elevators 746-768;
River Elevators 748-771;

Chicago Futures: Mar down  21 1/2  at  922 1/2 
  May down 23  at  939 
  Jul '08 down  17 1/4  at  866 1/4 
  Sep down  19  at  873 
  Jul '09 down  18 1/2  at  842 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for January at Memphis  917 to 924;

Bids to farmers at River Elevators 816-879;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for January at Memphis   496 1/2 to - - -;
  new crop at Memphis   479 1/4 to 482 1/4;
Bids to farmers at River Elevators  475 to 490

Chicago Futures: Mar down  2 1/2  at  498 1/2 
  May down  2 1/2  at  510 1/4 
  Sep down  1 1/2  at  514 1/4 
  Dec down  3/4  at  510 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat lost ground again today as the market showed followthrough on yesterday’s key reversal. However, the market did bounce off their lows, showing some resiliency. Long term support remains around $8.30.



Cotton & Rice  Date: January 30, 2008


Cotton

Spot Price, Grade 41 Staple 34: Memphis up 39 at  6381
  Greenwood up  39 at 6381

New York Futures: Mar up  48  at  6872 
  May up  53  at  7059 
 Jul up  59  at  7239 
 Dec up  54  at  7705 
 Mar '09 up  129  at  7760 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton firmed in late trading to close higher in most contracts. For now, the focus is on big available supplies, not on an anticipated smaller ’08 crop. With U.S. ending stocks of almost 8 million bales projected for this year there doesn’t seem to be any push on foreign buying. The market lost steam with the market upturn in late December and early January. Futures have made a 62% retracement of that move and have good trendline support. However, a March close below 66.75 cents would be negative, as would a December close below 74.5 cents.

Rice

Long Grain Cash Bid for  Feb/Mar 1242  to  1287/cwt
  - - - - - -  to  - - -

Chicago Futures: Mar up  at  1462 
 May up  at  1495 
 Sep down  at  1464 
 Nov up  at  1480 
 - - -   - - -  at  - - - 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice followed the recent pattern of early weakness with a late push to the upside with March again registering a new contract high. Rice continues to have strong underlying support in the world market. Price levels in Thailand and Vietnam continue to firm, a reflection of overall tight supplies. This situation isn’t likely to correct any time soon, as utilization has been greater than production for the last 7 or 8 years. In the U.S. rice plantings may decline despite current price levels, as producers may opt to move land into soybeans or corn. Weaker, sandier soils are expected to move to beans or corn because of water and fertilizer requirements. Support starts at the recent low of $13.95 and resistance at today’s contract high of $14.69.



Cattle & Hogs  Date: January 30, 2008

Cattle
As reported by Federal-State Market News, receipts were 858 head at sales in Conway & Pocahontas.  Compared with last week, feeder steers under 600 lbs. suitable for grazing $5-10 higher, over 600 lbs. $1-3 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 112 to 122
  500 to 550 lbs. 103 to 112
  600 to 650 lbs. 91 to 101
 Medium & Large Frame 2   400 to 450 lbs. 105 to - - -

Heifers:
 Medium & Large Frame 1   400 to 450 lbs. 100 to 110
 Medium & Large Frame 2   400 to 450 lbs. 86 to 94

Slaughter Cows, Boners 44.50   to   51.50
Light Weight 30 to 34
Bulls, Yield Grade   1   1000   to   2100 lbs.   59   to   64, high dressing 68
Midwest Steers   were quoted   at   88   to   - - -
Panhandle Steers   were quoted   at   88   to   - - -

Oklahoma City Feeders
Steers 500 to 550 lbs. 115 to 125
  600 to 650 lbs. 107 to 111
Heifers n/a to - - - lbs. - - - to - - -
  n/a to - - - lbs. - - - to - - -

Chicago Futures:
Live Cattle: Feb up 25 at 9140
  Apr down 22 at 9452
Feeders: Mar up 85 at 10510
  May up 67 at 11105

Cattle Comment
Live cattle futures were barely higher, while feeders registered better gains. The market is finding support in expectations of a slightly smaller herd being reported in Friday’s inventory report. Today’s lower federal reserve rate could be positive for cattle but in the short term the February contract has strong resistance just above $92. It will likely take additional strength in beef to push February toward the next resistance around $93.50.

Hogs
Peoria: were $1     higher   at   31.5   to   32

Chicago Futures: Feb up 45 at 5845
  Jun up 2 at 7772

Sheep
St. Paul sheep shorn slaughter lambs   at   n/a   to   - - -

Hogs Comment
Hog futures were steady to slightly higher based on improving carcass values. Slow hog movement, as result of severe weather, added support.



Poultry  Date: January 30, 2008

Eggs

New York:  Ex. Lg. 156-160; Lg. 154-158; Med. 138-142;
Chicago:  Ex. Lg. 146-154; Lg. 144-152; Med. 130-138;

Eastern Region Turkeys
Hens: 8-16 lbs. 74-77
Toms: 16-24 lbs. 74-77
 

Delmarva Broilers
U.S. Grade A
Trade sentiment was mostly steady. Supplies of all sizes were usually sufficient to handle trade needs. In production areas, live supplies were moderate at mostly desirable weights.

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You are receiving this newsletter because you requested that your e-mail address be added to the Arkansas Farm Bureau Market Report.

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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 2008
Arkansas Farm Bureau, Inc.
All rights reserved
Terms of Use

Tuesday, January 29, 2008

01/29/2008 Farm Bureau Market Report

Click here to view this report online.

Arkansas Farm Bureau
Arkansas Farm Bureau
Grain & Soybean Date: January 29, 2008

Soybeans

Local Elevators:
(Jan) EAST AR:  1214 to 1236
(NC) Summ. 1133 to 1165
River Elevators:
(Jan) MISS: 1207 to 1266 ; AR & White 1226 to 1238
(NC) Summ. 1135 to 1168
Ark. Processor Bids: (Jan) 1227 to 1230  (NC) 1156 to 1158
Memphis:  (Jan) 1254 3/4 to 1256 3/4 (NC)  1167 3/4 to - - -
Riceland Foods:  (NC) Stuttgart 1230 ; Pendleton 1236 ; West Memphis 1259

Chicago Futures: Mar up 13 at  1266 3/4
  May  up  13 1/4  at  1258 1/2
  Jul up 10  at  1297
  Nov '08 down at  1222 3/4
  Nov '09 down 5 1/2  at  1178 1/2
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans opened higher but faltered as wheat plunged lower. At the end of the session soybeans closed mixed with new crop lower. November pushed to $12.40 and again failed to close last week’s gap that starts at $12.42. November has well established boundaries of $13.04 ½ on the upside and $11.67 1/2 on the downside. A close outside this range will indicate whether the next leg in this market is up or down. Fundamentals remain positive, but most have probably been accounted for.

Wheat
Cash bid for new crop at Memphis  783 1/2 to 788 1/2;

Bids to farmers at Local Elevators 764-786;
River Elevators 765-789;

Chicago Futures: Mar down  19  at  944 
  May down 15 1/2  at  962 
  Jul '08 down  24 1/2  at  883 1/2 
  Sep down  18 3/4  at  892 
  Jul '09 down  20 1/2  at  860 1/2 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for January at Memphis  921 to 929;

Bids to farmers at River Elevators 813-875;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for January at Memphis   493 to 496;
  new crop at Memphis   480 3/4 to 483 3/4;
Bids to farmers at River Elevators  477 to 492

Chicago Futures: Mar down  1 1/4  at  501 
  May down  1 1/2  at  512 3/4 
  Sep unchanged    at  515 3/4 
  Dec up  1/4  at  510 3/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat did a full rotation with a big reversal of early gains. July registered a key reversal which is a fairly reliable topping signal. It appears even spring wheat is making a distinction in the new crop contracts. So look for July to work lower and toward support at $8.30.



Cotton & Rice  Date: January 29, 2008


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 6 at  6349
  Greenwood down  6 at 6349

New York Futures: Mar down  13  at  6817 
  May down  23  at  6993 
 Jul down  20  at  7170 
 Dec down  20  at  7640 
 Mar '09 down  29  at  7864 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton traded to both sides of yesterday’s close before ending the day slightly lower. For now, the focus is on big available supplies, not on an anticipated smaller ’08 crop. With U.S. ending stocks of almost 8 million bales projected for this year there doesn’t seem to be any push on foreign buying. The market lost steam with the market upturn in late December and early January. Futures have made a 62% retracement of that move and have good trendline support. However, a March close below 66.75 cents would be negative, as would a December close below 74.5 cents.

Rice

Long Grain Cash Bid for  Feb/Mar 1242  to  1284/cwt
  - - - - - -  to  - - -

Chicago Futures: Mar up  1 1/2  at  1459 
 May up  at  1492 
 Jul up  at  1518 
 Sep up  at  1465 
 - - -   - - -  at  - - - 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice pushed to a new contract today but lost momentum and ended the day only slightly higher. Rice continues to have strong underlying support in the world market. Price levels in Thailand and Vietnam continue to firm, a reflection of overall tight supplies. This situation isn’t likely to correct any time soon, as utilization has been greater than production for the last 7 or 8 years. In the U.S. rice plantings may decline despite current price levels, as producers may opt to move land into soybeans or corn. Weaker, sandier soils are expected to move to beans or corn because of water and fertilizer requirements. Support starts at the recent low of $13.95 and resistance at today’s contract high of $14.69.



Cattle & Hogs  Date: January 29, 2008

Cattle
As reported by Federal-State Market News, receipts were 921 head at sales in Marshall & Fort Smith.  Compared with last week, feeder steers sold $2-6 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 120 to 130
  500 to 550 lbs. 108 to 118
  600 to 700 lbs. 95 to 105
 Medium & Large Frame 2   400 to 450 lbs. 101 to 111

Heifers:
 Medium & Large Frame 1   400 to 450 lbs. 96 to 106
 Medium & Large Frame 2   400 to 450 lbs. 89 to 94

Slaughter Cows, Boners 43   to   51
Light Weight 33.50 to 36
Bulls, Yield Grade   1   1000   to   2100 lbs.   55   to   63, high dressing 63.50-67.50
Midwest Steers   n/a   at   - - -   to   - - -
Panhandle Steers   n/a   at   - - -   to   - - -

Oklahoma City Feeders
Steers 500 to 550 lbs. 115 to 125
  600 to 650 lbs. 107 to 111
Heifers 500 to 550 lbs. 101 to 107.50
  600 to 650 lbs. 93 to 97.50

Chicago Futures:
Live Cattle: Feb up 40 at 9115
  Jun up 80 at 9337
Feeders: Jan steady at 9955
  Mar up 157 at 10425

Cattle Comment
Cattle managed a little gain but overall the market appears to be consolidating in a fairly narrow range as it anticipates this week’s inventory report. A slightly smaller herd is expected. Strengthening beef prices are supportive, but with negative packer margins it will take more gains to put the market on solid ground.

Hogs
Peoria: were     steady   at   30.50   to   31

Chicago Futures: Feb up 75 at 5800
  Jun up 172 at 7770

Sheep
St. Paul sheep shorn slaughter lambs   at   n/a   to   - - -

Hogs Comment
Hogs extended the upturn that began about 3 weeks ago. The market is likely to test resistance around $59. Potentially good exports and some really cold weather in the Midwest are providing support. Conversely, the upside appears limited by narrowing packer margins.



Poultry  Date: January 29, 2008

Eggs

New York:  Ex. Lg. 156-160; Lg. 154-158; Med. 138-142;
Chicago:  Ex. Lg. 146-154; Lg. 144-152; Med. 130-138;

Eastern Region Turkeys
Hens: 8-16 lbs. 73-75
Toms: 16-24 lbs. 73-75
 

Delmarva Broilers
U.S. Grade A
Trade sentiment was mostly steady. Supplies of all sizes were at least sufficient to satisfy trade needs. In production areas, live supplies were moderate at mostly desirable weights.

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