Midweek Cash Markets | October 18, 2023

Midweek Cash Markets
Midweek Cash Markets
(Pro Farmer)

CORN COMMENTS

The national average corn basis held at 13 1/2 cents under December futures. The national average cash corn price rose 4 cents to $4.78 1/2.

Basis is slightly weaker than the three-year average of 9 1/4 cents under futures.

 

SOYBEAN COMMENTS

The national average soybean basis firmed 13 cents to 15 3/4 cents under November futures. The national average cash price firmed 71 1/2 cents to $12.95 1/4.

Basis is slightly weaker than the three-year average of 11 cents under futures.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis firmed 13 cents to 74 cents under December futures. The average cash price firmed 37 1/4 cents to $5.06 1/4. SRW basis is much weaker than the three-year average of 29 1/4 cents under futures.

The national average hard red winter (HRW) wheat basis inched up 1/4 cent to 66 cents below December futures. The average cash price firmed 3 1/2 cents to $6.04 1/2. HRW basis is much weaker than the three-year average of 33 1/2 cents under futures.

 

CATTLE COMMENTS

Cash cattle trade averaged $184.30 last week, up $1.58 from the previous week. Cash cattle trade has been limited so far this week, with just a small volume at roughly $1.00 higher prices. Last year, the cash price was $150.07.

Choice boxed beef firmed $3.58 over the past week to $303.86. Last year at this time, Choice boxed beef prices were $253.39.

 

HOG COMMENTS

The average lean hog carcass price dropped $1.72 over the past week to $78.52. Last year’s lean carcass price on this date was $93.11.

The pork cutout value dropped $4.44 over the past week to $87.95. Last year at this time, the cutout price stood at $101.30.

 

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