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CORN COMMENTS
The national average corn basis slipped 3/4 cent but is still 1 3/4 cents above May futures. The national average cash corn price firmed 40 1/2 cents to $7.26 3/4.
Basis is a little weaker than the three-year average of 5 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 2 1/4 cents over the past week to stand 1/2 cent above May futures. The national average cash price dropped 9 3/4 cents on the week to $16.63 1/2.
Basis is better than the three-year average of 6 1/4 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 3 3/4 cents to 20 cents under May futures. The average cash price surged $1.86 3/4 to $10.39. SRW basis is weaker than the three-year average of 7 1/2 cents under futures.
The national average hard red winter (HRW) wheat basis fell 6 3/4 cents to 26 3/4 cents below May futures. The average cash price surged $1.55 to $10.48 1/2. HRW basis is slightly weaker than the three-year average of 25 1/2 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $143.22 last week, up 86 cents from the previous week. This week’s cash trade started at slightly lower prices, though volume was light as most feedlots still wanted firmer prices. Last year at this time, the cash price was $113.64.
Choice boxed beef prices dropped another $5.16 over the past week to $255.72. Last year, Choice boxed beef prices were $233.03.
HOG COMMENTS
The average lean hog carcass price firmed another $1.68 over the past week to $99.84. Last year’s lean carcass price on this date was $83.27.
The pork cutout value slipped 70 cents over the past week to $108.42. Last year at this time, the cutout price stood at $90.02.