CORN COMMENTS
The national average corn basis slipped 3/4 cent but remained 1 1/4 cents above March futures. The national average cash corn price dropped 5 1/4 cents to $4.49 1/2.
Basis is slightly weaker than the three-year average of 5 1/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis held at 2 1/4 cents above March futures. The national average cash price dropped 18 cents to $12.24 1/2.
Basis is slightly weaker than the three-year average of 4 3/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis slipped 1/4 cent to 56 3/4 cents under March futures. The average cash price dropped 15 3/4 cents to $5.38 1/2. SRW basis is much weaker than the three-year average of 23 3/4 cents under futures.
The national average hard red winter (HRW) wheat basis firmed a penny to 58 1/2 cents below March futures. The average cash price dropped 2 3/4 cents to $5.63 1/2. HRW basis is much weaker than the three-year average of 29 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $175.44 last week, up $1.68 from the previous week. Cash cattle are expected to trade higher again this week, though negotiations have been slow through midweek. Last year, the cash price was $158.17.
Choice boxed beef dropped $4.96 over the past week to $294.54. Last year at this time, Choice boxed beef prices were $265.07.
HOG COMMENTS
The average lean hog carcass price firmed $3.04 over the past week to $71.29. Last year’s lean carcass price on this date was $71.32.
The pork cutout value dropped $1.30 over the past week to $87.56. Last year at this time, the cutout price stood at $78.95.