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CORN COMMENTS
The national average corn basis slipped 3/4 cent but remained 13 cents above March futures. The national average cash corn price dropped 3 cents to $6.89 1/4.
Basis is better than the three-year average of 5 cents over futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 4 3/4 cents but remained 7 3/4 cents above March futures. The national average cash price firmed 1 1/4 cents to $15.33 1/2.
Basis is better than the three-year average of 1 1/2 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis dropped 15 3/4 cents to 42 cents under March futures as several locations pulled their bids. The average cash price fell 11 1/4 cents to $7.27 1/4. SRW basis is much weaker than the three-year average of 8 1/2 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 2 1/4 cent to 34 3/4 cents below March futures. The average cash price firmed 3/4 cent to $8.59 3/4. HRW basis is weaker than the three-year average of 27 1/2 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $159.62 last week, up $1.45 from the previous week. Cash cattle are expected to trade higher again this week. Last year, the cash price was $115.82.
Choice boxed beef firmed $8.47 over the past week to $275.67. Last year at this time, Choice boxed beef prices were $269.62.
HOG COMMENTS
The average lean hog carcass price firmed $1.76 over the past week to $73.08. Last year’s lean carcass price on this date was $96.64.
The pork cutout value firmed $1.65 over the past week to $80.94. Last year at this time, the cutout price stood at $106.52.