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CORN COMMENTS
The national average corn basis fell 1 1/4 cents over the past week but remains 5 1/4 cents above March futures. The national average cash corn price firmed 14 1/2 cents to $5.92 1/2.
Basis is slightly better than the three-year average of 4 1/2 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis slipped 1/2 cent over the past week to 10 3/4 cents above January futures. The national average cash price firmed 32 1/4 cents on the week to $12.71 3/4.
Basis is much better than the three-year average of 15 1/4 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 5 1/2 cents on the week to 32 3/4 cents under futures. The average cash price firmed 9 1/2 cents to $7.61 3/4. SRW basis is much weaker than the three-year average of 8 1/4 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 1 1/4 cents to 23 1/4 cents below March futures. The average cash price fell 6 cents to $7.88 3/4. HRW basis is better than the three-year average of 33 1/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $140.44 last week, up $2.27 from the previous week. This week’s cash trade is expected to be around steady prices compared with last week. Last year at this time, the cash price was $109.75.
Choice boxed beef prices dropped $6.11 over the past week to $264.11. Last year, Choice boxed beef prices were $240.89.
HOG COMMENTS
The average lean hog carcass price firmed 56 cents over the past week to $70.83. Last year’s lean carcass price on this date was $66.71.
The pork cutout value firmed $8.07 over the past week to $90.44. Last year at this time, the cutout price stood at $77.60.