Midweek Cash Markets | December 13, 2023
CORN COMMENTS
The national average corn basis firmed 6 cents to 16 1/2 cents under March futures. The national average cash corn price firmed 1 1/4 cents to $4.63.
Basis is much weaker than the three-year average of 4 3/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 7 1/4 cents to 5 1/2 cents under January futures. The national average cash price firmed 19 1/4 cents to $13.02.
Basis is much weaker than the three-year average of 12 1/2 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis dropped 14 1/4 cents to 70 1/2 cents under March futures. The average cash price dropped 42 1/2 cents to $5.34 3/4. SRW basis is much weaker than the three-year average of 28 3/4 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 2 3/4 cents to 62 1/2 cents below March futures. The average cash price dropped 21 1/4 cents to $5.69 1/2. HRW basis is much weaker than the three-year average of 31 1/2 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $169.94 last week, down $4.51 from the previous week. Light initial cash trade took place at slightly lower prices, though volume was too light to be considered a true gauge. Last year, the cash price was $155.69.
Choice boxed beef firmed $1.08 over the past week to $291.64. Last year at this time, Choice boxed beef prices were $250.07.
HOG COMMENTS
The average lean hog carcass price dropped $1.18 over the past week to $67.08. Last year’s lean carcass price on this date was $78.87.
The pork cutout value firmed 73 cents over the past week to $83.93. Last year at this time, the cutout price stood at $84.27.
