02/29/2008 Farm Bureau Market Report

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Grain & Soybean Date: February 29, 2008 Soybeans Local Elevators: (Feb) EAST AR:  1458 to 1480 (NC) Summ. 1331 to 1363 River Elevators: (Feb) MISS: 1445 to 1503 ; AR & White 1470 to 1476 (NC) Summ. 1333 to 1366 Ark. Processor Bids: (Feb) 1474 to 1478  (NC) 1355 to 1356 Memphis:  (Feb) 1500 to 1502 (NC)  1356 to 1366 Riceland Foods:  (Feb) Stuttgart 1474 ; Pendleton 1480 ; West Memphis 1503 Chicago Futures: Mar up 23 1/2 at  1522   May  up  24  at  1536 1/2   Jul up 22 1/4  at  1546   Nov up 2  at  1426   Nov '09 up 4 1/2  at  1371 1/2   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans were mostly higher, with old crop contracts leading the way. Chinese demand is still the driving factor for old crop gains. China bought 225,000 metric tons of soybeans and 25,000 metric tons of soy oil last week. Index funds are reinvesting strong profits and putting the squeeze on elevators that are attempting to manage their risk of booking crops for producers. Be aware what goes up will come down – and probably faster than it went up. Wheat Cash bid for new crop at Memphis  850 to - - -; Bids to farmers at Local Elevators 865-884; River Elevators 857-885; Chicago Futures: Mar down  96  at  1073    May down 79  at  1086    Jul down  57  at  1000    Sep down  64 1/2  at  1008    Jul '09 down  10  at  970    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for February at Memphis  930 to 957; Bids to farmers at River Elevators 882-923; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for February at Memphis   538 to 539;   new crop at Memphis   530 1/4 to - - -; Bids to farmers at River Elevators  521 to 536 Chicago Futures: Mar up  2 3/4  at  546    May up  1/4  at  556 1/2    Sep down  3/4  at  565 1/4    Dec down  3/4  at  564 3/4    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat futures posted sharp losses today as extreme volatility continues. Egypt bought French wheat in their weekly tender, which was a bit bearish for U.S. futures, but with supplies as tight as they are, any demand can be seen as supportive. This market is beginning to look as if a top has been put in, but any indication of crop problems before harvest could send the market higher again. Cotton & Rice  Date: February 29, 2008 Cotton Spot Price, Grade 41 Staple 34: Memphis up 253 at  7686   Greenwood up  253 at 7686 New York Futures: Mar up  153  at  7966    May up  253  at  8186    Jul up  243  at  8352    Dec up  268  at  8745    Mar '09 up  226  at  8996  This week's LDP rate for cotton is  0 cents   The estimate for next week is  0 cents Cotton Comment Cotton exploded to the upside today after charting an outside day up yesterday. The market is apparently focusing on grain prices and the fight for acreage this spring. Last week’s USDA outlook conference set cotton plantings at 9.5 million acres. However, slowing demand and ample old-crop stocks could limit the upside. Today was the last day of pit trading for cotton futures. Monday marks the first day of entirely electronic trading. Rice Long Grain Cash Bid for  Feb/Mar 1420/cwt  to  - - -   - - - - - -  to  - - - Chicago Futures: Mar up  70  at  1800    May up  45  at  1804 1/2    Jul up  50  at  1834    Sep up  16  at  1716    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice moved to new highs again today—a nearly daily occurrence for the past few weeks. The global situation is unchanged as tight world stocks have pushed prices in Thailand and Vietnam to the $460-$500 per tonne range—price levels only seen twice in history. New crop supplies are becoming available but much of it has been sold. Thailand has virtually pulled out of the parboil market because of depleted supplies and India has set a minimum export price of $500/tonne, but they should be able to competitively re-enter the export market soon at current price levels. Cattle & Hogs  Date: February 29, 2008 Cattle As reported by Federal-State Market News, receipts were 9,330 head at sales in Arkansas this week.  Compared with last week, feeder steers sold steady $2 higher . Steers:  Medium & Large Frame 1   400 to 450 lbs. 120 to 130   500 to 550 lbs. 113 to 123   600 to 700 lbs. 102 to 112  Medium & Large Frame 2   400 to 450 lbs. 109 to 119 Heifers:  Medium & Large Frame 1   400 to 450 lbs. 106 to 116  Medium & Large Frame 2   400 to 450 lbs. 101 to 111 Slaughter Cows, Boners 48   to   56 Light Weight 35 to 40 Bulls, Yield Grade   1   1000   to   2100 lbs.   60   to   69, high dressing 69-73.50 Midwest Steers   were $3-3.50 higher   at   93   to   93.50 Panhandle Steers   were $3 higher   at   93   to   - - - Oklahoma City Feeders Steers 500 to 550 lbs. 114 to 133   600 to 650 lbs. 107 to 119 Heifers 500 to 550 lbs. 100 to 111   600 to 650 lbs. 92.50 to 105.50 Chicago Futures: Live Cattle: Apr down 42 at 9432   Jun down 5 at 9532 Feeders: Mar down 100 at 10365   Aug down 25 at 11300 Cattle Comment Cattle futures were mixed with expiring February under pressure from its premium to cash prices. April was lower and has uptrending support near $93.85. Firm beef prices and optimism about spring beef demand were supportive. Hogs Peoria: were $.50     lower   at   34.5   to   - - - Chicago Futures: Apr down 130 at 5995   Jun down 30 at 7635 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hogs turned lower on active fund selling and weakening fundamentals. April moved to a new contract low but June found support at yesterday’s low of $75.15. Poultry  Date: February 29, 2008 Eggs New York:  Ex. Lg. 163-167; Lg. 161-165; Med. 140-144; Chicago:  Ex. Lg. 147-155; Lg. 145-153; Med. 130-138; Eastern Region Turkeys Hens: 8-16 lbs. 77-79 Toms: 16-24 lbs. 77-79   Delmarva Broilers U.S. Grade A Trade sentiment was overall no better than steady. Supplies of all sizes were available to fully sufficient for trade needs. In production areas, live supplies were moderate at mostly desirable weights. ---------------------------------------- HOW TO UNSUBSCRIBE You are receiving this newsletter because you requested that your e-mail address be added to the Arkansas Farm Bureau Market Report. To unsubscribe or change your subscription information, go to http://www.arfb.com/commodity_marketing/email/ ---------------------------------------- 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

FWD: Morning Manna (Feb. 29); BP: Ps. 32; RBTTY: Mk. 7:1-13; Num. 20-22

 
Samuel D. High
sdhigh@aristotle.net

 

---

-----Original Message-----
From: Apostle Tom <pressingon@hotmail.com>
Sent: Thu, 28 Feb 2008 19:43:07 -0600
To: <pressingon@hotmail.com>
Subject: Morning Manna (Feb. 29); BP: Ps. 32; RBTTY: Mk. 7:1-13; Num. 20-22
 

February 29                                                                                                  “On Praying for Assurance”

 

“For this shall everyone that is Godly pray unto You in a time when You may be found.  Surely in the floods of great waters they shall not come nigh unto him.  You are my Hiding Place.  You shall preserve me from trouble.  You shall compass me about with songs of deliverance.  Selah.”

                                                                                                                                                 Psalm 32:6-7

     When we know He is our Anchor, we can always pray with calm assurance.

     It’s easy to get real “spiritual” when bullets (literal or figurative) are whizzing overhead.  As someone said, “I’ve yet to see an atheist in a foxhole.”  So true, so true; however, “foxhole faith” is often fleeting faith when the crisis is over.

 

     That’s why we must always remember to pray to the Lord when everything’s going good and our view from the mountaintop is an idyllic one; otherwise, He’ll seem to be far-off or “missing-in-action” when we descend into life’s dark valleys and need Him.

 

     There’s no doubt David was doing through a distressing time when he penned today’s Manna.  You don’t talk about your “bones waxing old (Heb. ‘balah’—‘wearing out, decaying, growing brittle, etc.’) because of your roaring (Heb. ‘sheagah’—‘rumbling, moaning, etc.’) all the day long” (v.3) if nothing bad’s happening.  Likewise, you don’t talk about your “moisture (life’s juices, strength) being turned into the drought of summer” (v.4) if everything’s “coming up roses.”

 

     No, the shepherd-king was having a hard time of it.  He’d already “acknowledged his sin and confessed his transgressions to the Lord—and knew the Lord had forgiven him” (v.5).  But, still he felt the need to remind himself (and us) that the best recourse in trouble is to pray.

 

     The ungodly don’t pray in such times.

     Oh, they might say “Help me, Lord” or hurriedly pray the “Lord’s Prayer” like some spiritual formula or protective talisman.  But, such prayers are as feeble as a toy arrow shot into the air from a child’s bow when prayed by one who doesn’t know Him.  Only the Godly know how to pray today’s Manna and receive assurance when they do.

 

     Does this mean our house will never be swept away in a flood or blown away in a tornado?  No, not at all.  Does this mean we’ll never contract cancer or have a loved one who dies from it?  Again, not, not at all.

 

     But, it does mean we have One Who’ll always be our “Hiding Place, Who’ll preserve (Heb. ‘natsar’—‘to guard, maintain, keep, watch over, etc.’) us in the midst of trouble and encompass us with songs of deliverance” like “Amazing Grace”. . . “Rock of Ages”   . . . “He Leadeth Me”. . . “How Firm A Foundation,” etc.  Glory!!

 

     And, it also means “Blessed Assurance” will always be our theme song because of Jesus, Who is “ the sure and steadfast Anchor of our soul” (Heb. 6:19).  Why not spend a few minutes “Selah-ing” (resting, pause to reflect) right now—giving thanks to the One Who’s promised to “never leave you nor forsake you” (Heb. 13:5b)?

02/28/2008 Farm Bureau Market Report

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Grain & Soybean Date: February 28, 2008 Soybeans Local Elevators: (Feb) EAST AR:  1443 to 1465 (NC) Summ. 1329 to 1361 River Elevators: (Feb) MISS: 1421 to 1488 ; AR & White 1443 to 1455 (NC) Summ. 1333 to 1364 Ark. Processor Bids: (Feb) 1453 to 1459  (NC) 1353 to 1354 Memphis:  (Feb) 1476 1/2 to 1478 1/2 (NC)  1354 to 1364 Riceland Foods:  (NC) Stuttgart 1452 ; Pendleton 1458 ; West Memphis 1481 Chicago Futures: Mar up 39 1/2 at  1498 1/2   May  up  37 1/4  at  1512 1/2   Jul up 35  at  1523 3/4   Nov up 17  at  1424   Nov '09 up 23  at  1367   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans surged higher with old crop contracts moving above $15. Chinese buying is pushing futures higher. China bought 225,000 metric tons of soybeans and 25,000 metric tons of soy oil last week. Index funds are reinvesting strong profits and putting the squeeze on elevators that are attempting to manage their risk of booking crops for producers. Be aware what goes up will come down – and probably faster than it went up. Wheat Cash bid for new crop at Memphis  907 to - - -; Bids to farmers at Local Elevators 922-949; River Elevators 919-952; Chicago Futures: Mar down  111  at  1169    May down 85  at  1165    Jul down  88  at  1057    Sep down  58  at  1072 1/2    Jul '09 down  62 1/2  at  980    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for February at Memphis  925 to 952; Bids to farmers at River Elevators 859-921; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for February at Memphis   535 1/4 to 536 1/4;   new crop at Memphis   531 to - - -; Bids to farmers at River Elevators  516 to 531 Chicago Futures: Mar up  17 1/2  at  542 1/2    May up  18 1/4  at  556 1/4    Sep up  14  at  566    Dec up  12  at  565 1/2    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat futures posted sharp losses today as extreme volatility continues. The International Grains Council increased their world wheat estimate by 4 million metric tons to a record 646 million metric tons. News that Iraq purchased Australian wheat this week in addition to U.S. wheat was viewed as negative, as was news that Egypt has changed their specs to include French wheat. Cotton & Rice  Date: February 28, 2008 Cotton Spot Price, Grade 41 Staple 34: Memphis up 140 at  7433   Greenwood up  140 at 7433 New York Futures: Mar up  128  at  7813    May up  115  at  7908    Jul up  117  at  8090    Dec up  105  at  8455    Mar '09 up  115  at  8690  This week's LDP rate for cotton is  0 cents   The estimate for next week is  0 cents Cotton Comment Cotton recovered a big portion of yesterday’s losses. The market apparently ignored the domestic mill use report. Use is down 5.2 percent from the August-January period of last year. Mill use is estimated at the lowest level since 1910-1911 as U.S. mills have been unable to compete with imported textile and apparel products. Tomorrow marks the last day of pit trading for cotton futures on the Intercontinental Exchange. Cotton futures trading will become completely electronic on Monday. Last week’s USDA outlook conference set cotton plantings at 9.5 million acres. But, even recent gains haven’t given cotton any advantage. That will come later. Cotton will have to have more acreage in 2009. Rice Long Grain Cash Bid for  Feb/Mar 1420/cwt  to  - - -   - - - - - -  to  - - - Chicago Futures: Mar up  23  at  1730    May up  20 1/2  at  1759 1/2    Jul up  20  at  1784    Sep up  7  at  1700    n/a up  - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice was higher with old crop contracts leading the way. The global situation is unchanged as tight world stocks have pushed prices in Thailand and Vietnam to the $460-$500 per tonne range—price levels only seen twice in history. New crop supplies are becoming available but much of it has been sold. Thailand has virtually pulled out of the parboil market because of depleted supplies and India has set a minimum export price of $500/tonne, but they should be able to competitively re-enter the export market soon at current price levels. Cattle & Hogs  Date: February 28, 2008 Cattle As reported by Federal-State Market News, receipts were 2,442 head at sales in Charlotte, Ratcliff & Green Forest.  Compared with last week, feeder steers sold unevenly, near steady . Steers:  Medium & Large Frame 1   400 to 450 lbs. 118 to 128   500 to 550 lbs. 116 to 126   600 to 700 lbs. 103 to 113  Medium & Large Frame 2   400 to 450 lbs. 111 to 121 Heifers:  Medium & Large Frame 1   400 to 450 lbs. 105 to 115  Medium & Large Frame 2   400 to 450 lbs. 99 to 109 Slaughter Cows, Boners 48   to   55 Light Weight n/a to - - - Bulls, Yield Grade   1   1000   to   2100 lbs.   60   to   67, high dressing 67-72.50 Midwest Steers   were steady   at   89   to   - - - Panhandle Steers   were steady   at   89   to   - - - Oklahoma City Feeders Steers 500 to 550 lbs. 125 to 132   600 to 650 lbs. 108.25 to 114 Heifers 550 to 600 lbs. 100 to 107   600 to 650 lbs. 98 to 105 Chicago Futures: Live Cattle: Apr up 20 at 9475   Jun down 5 at 9537 Feeders: Apr down 30 at 10790   Aug down 45 at 10465 Cattle Comment April live cattle didn’t show any follow through on yesterday’s bearish key reversal. Firm wholesale beef prices and expectations for higher cash prices were supportive. Hogs Peoria: were $.50     lower   at   35   to   35.5 Chicago Futures: Apr up 27 at 6125   Jun up 85 at 7665 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hogs moved higher after June charted a bullish reversal yesterday. Strong product movement and lighter carcass weights were supportive. Expect the upside to be limited, however, by futures’ premium to cash prices. Poultry  Date: February 28, 2008 Eggs New York:  Ex. Lg. 163-167; Lg. 161-165; Med. 140-144; Chicago:  Ex. Lg. 147-155; Lg. 145-153; Med. 130-138; Eastern Region Turkeys Hens: 8-16 lbs. 77-79 Toms: 16-24 lbs. 77-79   Delmarva Broilers U.S. Grade A Trade sentiment was about steady. Supplies of all sizes were more than sufficient to satisfy trade needs. In production areas, live supplies were moderate at mostly desirable weights. ---------------------------------------- HOW TO UNSUBSCRIBE You are receiving this newsletter because you requested that your e-mail address be added to the Arkansas Farm Bureau Market Report. To unsubscribe or change your subscription information, go to http://www.arfb.com/commodity_marketing/email/ ---------------------------------------- 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

Take Action: Tell Congress We Need More Conservation Funding

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	February 28, 2008 Help Improve Our Environment: Support More Funding for Conservation Dear Agriculture, Farm bill programs help keep our water clean and improve our environment. Budget decisions are being made now, tell Congress to increase funding for conservation! Congressional budget committees are working on their Fiscal Year 2009 Budget Resolution—and will soon determine how much money is available for programs like conservation and farmland protection. Contact your Congressional representatives now, and tell them to urge Budget Committee members to increase funding for conservation programs. American Farmland Trust supports Chairman Peterson and the House Agriculture Committee for seeking additional resources for farm bill programs, specifically more funding for conservation, in their February 27th budget letter (PDF) to House Budget Chairman Spratt. AFT agrees "In the area of farm conservation, the 2002 Farm Bill provided the largest funding increase for such programs in the Agriculture Department’s history. Even so, there is widespread agreement that further expansion is appropriate." Let your representatives know you agree—tell them we need more conservation funding to support farmers and ranchers working to protect our air, water, land and wildlife. Thanks to the tireless efforts of Chairman Peterson, Chairman Harkin, and the leadership in Congress we are finally closing in on an agreement on the farm bill. Urge your representatives to keep the pressure on and get it finished! We need a new farm bill, not an extension, and we need new resources in the bill to expand critical nutrition, conservation, renewable energy and healthy and local foods programs. Sincerely,   Jimmy Daukas Farm and Food Policy Campaign Director, American Farmland Trust
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02/27/2008 Farm Bureau Market Report

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Grain & Soybean Date: February 27, 2008 Soybeans Local Elevators: (Feb) EAST AR:  1403 to 1425 (NC) Summ. 1312 to 1344 River Elevators: (Feb) MISS: 1381 to 1448 ; AR & White 1404 to 1415 (NC) Summ. 1316 to 1347 Ark. Processor Bids: (Feb) 1413 to 1419  (NC) 1336 to 1337 Memphis:  (Feb) 1435 to 1439 (NC)  1337 to 1347 Riceland Foods:  (NC) Stuttgart 1419 ; Pendleton 1425 ; West Memphis 1448 Chicago Futures: Mar down 7 3/4 at  1459   May  down  9  at  1475 1/4   Jul down 8 3/4  at  1488 3/4   Nov down 20  at  1407   Nov '09 down 28  at  1344   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans traded in a relatively narrow range today before closing lower. The market continues to be supported by good export movement and surging vegetable oil prices. There is little rhyme or reason to the market. Index funds are reinvesting strong profits and putting the squeeze on elevators that are attempting to manage their risk of booking crops for producers. Upside potential appears unlimited as November moved above $14. Be aware what goes up will come down – and probably faster than it went up. Wheat Cash bid for new crop at Memphis  995 to - - -; Bids to farmers at Local Elevators 1010-1037; River Elevators 1012-1040; Chicago Futures: Mar up  80 1/2  at  1280    May up 35 1/2  at  1250    Jul up  8 1/2  at  1145    Sep up  11 3/4  at  1130 1/2    Jul '09 up  17 1/2  at  1042 1/2    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for February at Memphis  895 to 920; Bids to farmers at River Elevators 827-889; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for February at Memphis   518 to - - -;   new crop at Memphis   517 to - - -; Bids to farmers at River Elevators  496 to 511 Chicago Futures: Mar down  5 1/2  at  525    May down  6  at  538    Sep down  5  at  552    Dec down  3  at  553 1/2    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment The wheat trade continues to be extremely volatile. With limits expanded to $1.35 today, July opened down $1.28 and then had traded limit up (to $12.50!) by about 10:30 a.m. The final settlement was slightly higher, resulting in an outside day up on the chart. USDA confirmed this morning that Iraq has purchased 400,000 metric tons of U.S. hard red winter wheat, and that turned the market higher. Cotton & Rice  Date: February 27, 2008 Cotton Spot Price, Grade 41 Staple 34: Memphis down 155 at  7293   Greenwood down  155 at 7293 New York Futures: Mar down  162  at  7685    May down  173  at  7775    Jul down  165  at  7958    Dec down  173  at  8330    Jul '09 down  177  at  8735  This week's LDP rate for cotton is  0 cents   The estimate for next week is  0 cents Cotton Comment Cotton turned lower on profit taking after making strong gains for the last six days. The trade is expecting weekly export sales of 200,000 to 250,000 bales. That would be down from 545,900 last week, according to USDA. Last week’s USDA outlook conference set cotton plantings at 9.5 million acres. But, even recent gains haven’t given cotton any advantage. That will come later. Cotton will have to have more acreage in 2009. Rice Long Grain Cash Bid for  Feb/Mar 1420/cwt  to  - - -   - - - - - -  to  - - - Chicago Futures: Mar unchanged    at  1707    May up  4  at  1739    Jul up  7  at  1764    Sep up  8  at  1693    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice was higher again today. The global situation is unchanged as tight world stocks have pushed prices in Thailand and Vietnam to the $460-$500 per tonne range—price levels only seen twice in history. New crop supplies are becoming available but much of it has been sold. Thailand has virtually pulled out of the parboil market because of depleted supplies and India has set a minimum export price of $500/tonne, but they should be able to competitively re-enter the export market soon at current price levels. Cattle & Hogs  Date: February 27, 2008 Cattle As reported by Federal-State Market News, receipts were 1,319 head at sales in Conway & Pocahontas.  Compared with last week, feeder steers sold mostly steady, heifers firm to $2 higher . Steers:  Medium & Large Frame 1   400 to 450 lbs. 116 to 126   500 to 550 lbs. 108 to 118   600 to 700 lbs. 96 to 106  Medium & Large Frame 2   400 to 450 lbs. 108 to 116 Heifers:  Medium & Large Frame 1   400 to 450 lbs. 104 to 114  Medium & Large Frame 2   400 to 450 lbs. 94 to 103 Slaughter Cows, Boners 53   to   57 Light Weight 35 to 40 Bulls, Yield Grade   1   1000   to   2100 lbs.   64   to   69, high dressing 70-71 Midwest Steers   were quoted   at   89   to   - - - Panhandle Steers   were qutoed   at   89   to   - - - Oklahoma City Feeders Steers n/a to - - - lbs. - - - to - - -   n/a to - - - lbs. - - - to - - - Heifers n/a to - - - lbs. - - - to - - -   n/a to - - - lbs. - - - to - - - Chicago Futures: Live Cattle: Apr down 95 at 9455   Jun down 35 at 9542 Feeders: Mar up 32 at 10510   Aug up 72 at 11340 Cattle Comment After gapping higher yesterday, April live cattle charted a bearish key reversal today. This indicates the market has found at least a short-term top. April was under pressure from uncertainty about the cash market. Feeders were supported by corn market weakness. Hogs Peoria: were     steady   at   35.5   to   36 Chicago Futures: Apr up 22 at 6097   Jun up 47 at 7580 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment June hogs completed a 62% retracement of this winter’s gains yesterday and charted an outside day up today, indicating the market has found a bottom, at least for now. Expect the upside to be limited, however, by futures’ premium to cash prices. Poultry  Date: February 27, 2008 Eggs New York:  Ex. Lg. 161-165; Lg. 159-163; Med. 139-143; Chicago:  Ex. Lg. 147-155; Lg. 145-153; Med. 130-138; Eastern Region Turkeys Hens: 8-16 lbs. 76-78 Toms: 16-24 lbs. 76-78   Delmarva Broilers U.S. Grade A Trade sentiment was steady at best. Supplies of all sizes were usually more than sufficient to satisfy trade needs. In production areas, live supplies were moderate at mixed, but mostly desirable weights. ---------------------------------------- HOW TO UNSUBSCRIBE You are receiving this newsletter because you requested that your e-mail address be added to the Arkansas Farm Bureau Market Report. To unsubscribe or change your subscription information, go to http://www.arfb.com/commodity_marketing/email/ ---------------------------------------- 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

Farm Bill Deal or No Deal?, Funding Headaches, Energy Bill and more

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	February 27, 2008 Farm Bill Deal or No Deal?  A new growing season, but no new farm bill. This week, House Agriculture Committee Chairman Collin Peterson (D-MN) told reporters he has confidence in a farm bill package that includes roughly $10 billion in additional spending. Congressional Democrats seem determined to get a farm bill passed, despite Senate Agriculture Committee Chairman Tom Harkin’s (D-IA) recent comments that a two-year extension is "looking increasingly inevitable," blaming the White House for being inflexible. Even if a deal can be reached quickly, finalizing details before the March 15th deadline would be difficult, and another temporary extension through April is possible.     Show Me the Money Funding is at the centerpiece of the 10-week farm bill stalemate, with no agreement on how to include a permanent disaster program or how much to increase nutrition spending. Both the House and Senate are now looking at a 10-year farm bill package, using budget techniques to create offsets in later years to pay for conservation, nutrition and fruit and vegetable programs over the life of the bill. An estimated $1 billion in savings could be generated with the inclusion of the Average Crop Revenue (ACR) program, providing more funding under tight budget constraints. However, House packages don’t include this reform-minded safety net program.   Lights, Camera... Action? What's Happening With Energy Bill Implementation So what's next for the energy bill? The rulemaking and implementation process. An important step that ensures what was passed in the bill translates into working programs on the ground. Experts at the Environmental Protection Agency (EPA) and Department of Energy (DOE) will consult with stakeholders across the environmental, energy, transportation, and agriculture communities before publishing draft rules for each component of the bill. However, the process will be informed by two recent studies published in Science that cast doubt on the potential for biofuels to help reduce global warming and will no doubt affect the regulatory process for the new Renewable Fuel Standard—one of the most contentious elements of the energy bill.  The 2007 Energy Bill’s fivefold increase in ethanol production by 2022 reflects Congress’ excitement about ethanol’s promise. To address environmental concerns, the bill includes the Renewable Fuel Standard that requires ethanol— regardless of its source—to achieve at least a 20 percent reduction in greenhouse gases compared with conventional gasoline. "Conservation programs are needed now. In 10 or 20 years it will be too late." Farmers Carry the Farm Bill Message Varel Bailey and Jim Andrew from Iowa, Rich Rominger from California, and Ernie Averett from North Carolina recently carried important AFT farm bill messages to Capitol Hill. In several meetings with Congressional staff, they spoke about the need for increased funding for conservation programs, the Average Crop Revenue safety net, and healthy, local foods. Watch the podcast about their discussions around farm bill negotiations in a very tight budget climate.   Media Update Don't Wait for a Farm Bill Veteran farm bill watcher and ag journalist Jim Wiesmeyer gave Nebraska farmers an update on the farm bill negotiations. The White House and the Senate are several billion dollars apart on the total cost of the next farm bill, but farmers need a bill signed soon, because the federal budget picture is worsening. Wiesmeyer also mentioned the importance of a safety-net to the audience in this Lincoln Journal-Star article. Veto Threat is the Lever on Farm Subsidies A Reuter’s article quotes the Senate’s chief proponent of tightening farm subsidy payments, Chuck Grassley (R-IA), as optimistic that rules on who receives payments and at what levels will be strengthened since the White House has threatened to veto a farm bill without the changes. Second Generation Ethanol Plant Now Online and Fueling Race Cars The first ethanol plant using second-generation cellulosic materials to derive ethanol in the United States has gone online in Wyoming. A joint effort of the South Dakota School of Mines and Techonology and the KL Process Design Group, the facility uses waste wood chips to produce the biofuels. Corvette Racing has announced they’ll be trying cellulosic fuels on the American LeMans Series this year.
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