CORN COMMENTS
The national average corn basis firmed 2 cents to 6 cents below March futures. The national average cash corn price firmed 9 1/4 cents to $4.91 1/2.
Basis is much weaker than the three-year average of 5 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 3 1/4 cents to 14 1/2 cents below March futures. The national average cash price firmed 10 1/4 cents to $10.17 1/4.
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 held at 37 1/2 cents below March futures. The average cash price firmed 17 3/4 cents to $5.54 1/2. 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 1/4 cents below March futures. The average cash price firmed 22 cents to $5.55 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 $202.91 last week, down $4.14 from the previous week. Cash cattle are expected to trade lower again this week. Last year, the cash price was $180.35.
Choice boxed beef dropped $8.57 over the past week to $313.89. Last year at this time, Choice boxed beef prices were $294.00.
HOG COMMENTS
The average lean hog carcass price firmed $3.83 over the past week to $88.60. Last year’s
lean carcass price on this date was $75.49.
The pork cutout value dropped $3.11 over the past week to $95.52. Last year at this time, the cutout price stood at $85.90.