Isotropic-Nematic and Nematic-Nematic transitions from a homogeneous base state of a suspension of high aspect ratio, rod-like magnetic particles are studied for both Maier-Saupe and the Onsager excluded volume potentials. A combination of classical linear stability and asymptotic analyses provides insight into possible nematic states emanating from both the isotropic and nematic non-polarized equilibrium states. Local analytical results close to critical points in conjunction with global numerical results (Bhandar, 2002) yields a unified picture of the bifurcation diagram and provides a convenient base state to study effects of external orienting fields.
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