The NFL's deadline for teams to place the franchise tag is 1 p.m. PT on Monday, and it appears there is already some news. Adam Schefter is reporting the Kansas City Chiefs will use their franchise tag on pass rusher Justin Houston, and Tim Twentyman is reporting Ndamukong Suh will not be tagged. Schefter is also reporting the Denver Broncos will place their tag on wide receiver Demaryius Thomas. There have been numerous rumors the Dallas Cowboys will do the same with wide receiver Dez Bryant.
The Houston tagging does not have much bearing on the 49ers at this point. Aldon Smith is signed to his fifth year option, which is currently guaranteed for injury, and becomes fully guaranteed if he is on the 49ers roster on March 10. There is no word yet on if the team has spoken with his agent about a long term extension. I'd imagine they want to make sure he can get through the offseason without getting in trouble. If he can do that, maybe then they get a deal done. Or maybe he walks next year, who knows.
The Thomas and Bryant franchise tags would impact the wide receiver market to some degree. No long term deal initially means a price point isn't effectively set at the top end of the position. But it does remove two receivers from the market, and potentially two teams that might otherwise look at some of the middle to top receivers. If the Broncos and Cowboys tag their big names, they could still sign receivers, but I don't know that they would be signing the higher end guys.
Back in mid-February, a USA Today writer suggested the 49ers could potentially be a suitor for Suh. I highly doubt they invest that kind of money in him. I'd see a draft option much more likely given what Suh could entertain on the open market.