CORN COMMENTS
The national average corn basis firmed a penny to 1/4 cent above March futures. The national average cash corn price dropped 12 1/4 cents to $4.11 1/4.
Basis is weaker than the three-year average of 5 3/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis held at a penny below March futures. The national average cash price dropped 9 3/4 cents to $11.59 3/4.
Basis is weaker than the three-year average of 4 1/2 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed a penny to 56 1/2 cents under March futures. The average cash price dropped 1 1/4 cents to $5.26 3/4. SRW basis is much weaker than the three-year average of 26 1/4 cents under futures.
The national average hard red winter (HRW) wheat basis inched down 1/4 cent to 58 1/2 cents below March futures. The average cash price dropped 10 3/4 cents to $5.18 3/4. HRW basis is much weaker than the three-year average of 28 1/2 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $180.35 last week, down 80 cents from the previous week. This week’s cash cattle trade has been slow to develop. Last year, the cash price was $163.72.
Choice boxed beef firmed $3.80 over the past week to $297.80. Last year at this time, Choice boxed beef prices were $287.81.
HOG COMMENTS
The average lean hog carcass price firmed $3.07 over the past week to $75.49. Last year’s lean carcass price on this date was $76.36.
The pork cutout value firmed $4.27 over the past week to $90.17. Last year at this time, the cutout price stood at $83.05.