CORN COMMENTS
The national average corn basis firmed 4 cents to 3 cents above December futures. The national average cash corn price dropped 6 1/4 cents to $4.30 1/4.
Basis is slightly better than the three-year average of 1 1/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 2 3/4 cents to 1/4 cent below January futures. The national average cash price dropped 14 1/2 cents to $9.90 1/4.
Basis is weaker than the three-year average of 8 1/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis inched up 1/4 cent to 44 3/4 cents below December futures. The average cash price firmed 11 3/4 cents to $5.07 3/4. SRW basis is slightly better than the three-year average of 46 cents under futures.
The national average hard red winter (HRW) wheat basis slipped 1/2 cent to 50 1/2 cents below December futures. The average cash price firmed 20 3/4 cents to $5.11 1/4. HRW basis is weaker than the three-year average of 41 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $184.79 last week, down $1.74 from the previous week. This week’s cash cattle trade has been slow to develop with some expecting firmer prices and some weaker. Last year, the cash price was $176.77.
Choice boxed beef dropped 55 cents over the past week to $306.39. Last year at this time, Choice boxed beef prices were $297.00.
HOG COMMENTS
The average lean hog carcass price dropped $2.28 over the past week to $85.99. Last year’s lean carcass price on this date was $69.74.
The pork cutout value dropped $2.66 over the past week to $94.60. Last year at this time, the cutout price stood at $84.68.