CORN COMMENTS
The national average corn basis firmed 5 3/4 cents to 9 1/2 cents above September futures. The national average cash corn price dropped 6 1/2 cents to $4.05 1/4.
Basis is much weaker than the three-year average of 78 1/2 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 1 1/2 cents to 21 cents above August futures. The national average cash price dropped 37 3/4 cents to $11.34 1/4.
Basis is weaker than the three-year average of 28 3/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis dropped 2 cents to 48 3/4 cents below September futures. The average cash price dropped 21 1/2 cents to $5.12 3/4. SRW basis is weaker than the three-year average of 33 1/2 cents under futures.
The national average hard red winter (HRW) wheat basis slipped 1/4 cent to 45 cents below September futures. The average cash price dropped 26 1/2 cents to $5.20 1/2. HRW basis is weaker than the three-year average of 35 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged a record $197.09 last week, up $1.28 from the previous week’s high. Cash cattle trade will likely be pushed deep into the week again. Last year, the cash price was $184.27.
Choice boxed beef dropped $6.34 over the past week to $324.05. Last year at this time, Choice boxed beef prices were $310.98.
HOG COMMENTS
The average lean hog carcass price dropped 37 cents over the past week to $86.55. Last year’s lean carcass price on this date was $100.66.
The pork cutout value was unchanged from last week at $94.32. Last year at this time, the cutout price stood at $110.66.