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CORN COMMENTS
The national average corn basis slipped 2 cents on the week but remains 23 3/4 cents above July futures. The national average cash corn price fell 19 3/4 cents to $6.96 3/4.
Basis is much better than the three-year average, which is 1 3/4 cents under futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 5 3/4 cents over the past week but is still 19 1/4 cents above July futures. The national average cash price fell $1.19 3/4 on the week to $15.67 3/4.
Basis is far better than the three-year average of 14 1/4 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis dropped 2 1/2 cents to 2 cents below July futures. The average cash price fell 22 cents to $6.60 3/4. SRW basis is slightly weaker than the three-year average of 1 1/2 cent above futures.
The national average hard red winter (HRW) wheat basis firmed 3/4 cent to 13 1/4 cents below futures. The average cash price fell 24 1/4 cents to $5.97 1/2. HRW basis is slightly better than the three-year average of 16 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $120.03 last week, up 11 cents from the previous week. This week’s cash cattle trade started at $122 in the Southern Plains and at $123 to $124 in the northern market. Last year at this time, the cash price was $104.47.
Choice boxed beef prices fell $9.48 over the past week to $329.17. Last year, Choice boxed beef prices were $236.06.
HOG COMMENTS
The average lean hog carcass price firmed $3.88 over the past week to $122.59. Last year’s lean carcass price on this date was $51.18.
The pork cutout value fell $13.86 over the past week to $120.52. Last year at this time, the cutout price stood at $64.49.