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CORN COMMENTS
The national average corn basis slipped 3/4 cent but remained 12 1/4 cents above March futures. The national average cash corn price dropped 3 cents to $6.86 1/4.
Basis is better than the three-year average of 5 cents over futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 1/2 cent to 8 1/4 cents above March futures. The national average cash price firmed 14 1/4 cents to $15.47 3/4.
Basis is better than the three-year average of 1 cent under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 3/4 cent to 41 1/4 cents under March futures. The average cash price fell 32 cents to $6.95 1/4. SRW basis is much weaker than the three-year average of 7 1/4 cents under futures.
The national average hard red winter (HRW) wheat basis fell 2 1/4 cents to 37 cents below March futures. The average cash price dropped 20 3/4 cents to $8.39. HRW basis is weaker than the three-year average of 28 1/2 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $161.17 last week, up $1.55 from the previous week. Cash cattle are expected to trade higher again this week. Last year, the cash price was $143.22.
Choice boxed beef surged another $12.14 over the past week to $287.81. Last year at this time, Choice boxed beef prices were $259.24.
HOG COMMENTS
The average lean hog carcass price firmed $3.33 over the past week to $76.41. Last year’s lean carcass price on this date was $98.16.
The pork cutout value firmed $2.11 over the past week to $83.05. Last year at this time, the cutout price stood at $114.13.