CORN COMMENTS
The national average corn basis firmed 2 1/2 cents to 18 cents above March futures. The national average cash corn price firmed 3 1/2 cents to $6.44 1/2.
Basis is much better than the three-year average of 3 cents under futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 4 cents but remained 13 1/2 cents above March futures. The national average cash price dropped 32 1/2 cents to $15.02 3/4.
Basis is much better than the three-year average of 1 1/4 cent under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 1/4 cent to 51 1/2 cents under March futures. The average cash price firmed 15 1/2 cents to $6.51 1/4. SRW basis is weaker than the three-year average of 35 cents under futures.
The national average hard red winter (HRW) wheat basis held at 39 1/2 cents below March futures. The average cash price firmed 19 1/2 cents to $7.80 1/4. HRW basis is better than the three-year average of 47 1/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $165.40 last week, up 38 cents from the previous week. The sharp break in cattle futures pulled the cash market lower, with initial trade $1 to $2 lower. Last year, the cash price was $139.10.
Choice boxed beef dropped 51 cents over the past week to $284.27. Last year at this time, Choice boxed beef prices were $258.08.
HOG COMMENTS
The average lean hog carcass price firmed 78 cents over the past week to $78.12. Last year’s lean carcass price on this date was $100.07.
The pork cutout value dropped $1.28 over the past week to $86.38. Last year at this time, the cutout price stood at $105.02.