CORN COMMENTS
The national average corn basis slipped 1/4 cent to 8 cents below March futures. The national average cash corn price dropped 3 1/4 cents to $4.82 1/4.
Basis is weaker than the three-year average of 5 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis held at 17 3/4 cents below March futures. The national average cash price dropped 29 1/4 cents to $10.10.
Basis is much weaker than the three-year average of a penny above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 14 1/4 cents to 37 1/2 cents below March futures as several locations added old-crop bids. The average cash price firmed 16 1/4 cents to $5.36 3/4. SRW basis is better than the three-year average of 41 cents under futures.
The national average hard red winter (HRW) wheat basis slipped 1/4 cent to 58 cents below March futures. The average cash price declined 1/2 cent to $5.33 1/2. HRW basis is much weaker than the three-year average of 37 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $207.05 last week, down $2.52 from the previous week’s record and the first decline since mid-November. Cash cattle trade started at mostly $3.00 lower prices this week. Last year, the cash price was $180.35.
Choice boxed beef dropped $2.88 over the past week to $322.46. Last year at this time, Choice boxed beef prices were $294.00.
HOG COMMENTS
The average lean hog carcass price firmed $2.10 over the past week to $84.77. Last year’s lean carcass price on this date was $75.49.
The pork cutout value firmed $4.80 over the past week to $98.63. Last year at this time, the cutout price stood at $85.90.