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CORN COMMENTS
The national average corn basis slipped 1/4 cent over the past week to 5 3/4 cents under December futures. The national average cash corn price firmed a nickel to $5.63 1/2.
Basis is weaker than the three-year average of 1 3/4 cents under futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 6 1/4 cents over the past week to a penny above January futures. The national average cash price dropped 21 1/4 cents on the week to $12.17 3/4.
Basis is much better than the three-year average of 23 3/4 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis held at 30 cents under December futures. The average cash price firmed 22 cents to $7.73. SRW basis is much weaker than the three-year average of 10 1/2 cents under futures.
The national average hard red winter (HRW) wheat basis held at 22 3/4 cents below December futures. The average cash price firmed 26 3/4 cents to $7.94 3/4. HRW basis is better than the three-year average of 33 1/2 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $129.23 last week, up $2.94 from the previous week. This week’s cash trade started at $3 to $4 higher prices. Last year at this time, the cash price was $106.33.
Choice boxed beef prices dropped $2.97 over the past week to $285.52. Last year, Choice boxed beef prices were $210.19.
HOG COMMENTS
The average lean hog carcass price inched up 2 cents over the past week to $78.72. Last year’s lean carcass price on this date was $72.05.
The pork cutout value dropped $9.87 over the past week to $90.57. Last year at this time, the cutout price stood at $82.23.