Midweek Cash Markets | December 20, 2023
CORN COMMENTS
The national average corn basis firmed 3 1/4 cents to 13 1/4 cents under March futures. The national average cash corn price dropped 5 1/2 cents to $4.56 1/2.
Basis is much weaker than the three-year average of 5 1/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 6 1/2 cents to a penny above January futures. The national average cash price firmed 14 3/4 cents to $13.16 3/4.
Basis is weaker than the three-year average of 10 3/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 3/4 cent to 69 3/4 cents under March futures. The average cash price firmed 5 1/2 cents to $5.40 1/4. 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 dropped 2 1/4 cents to 63 3/4 cents below March futures. The average cash price dropped 8 1/4 cents to $5.61 1/4. HRW basis is much weaker than the three-year average of 31 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $168.71 last week, down $1.23 from the previous week. This week’s cash cattle trade is expected to occur at higher prices, though active sales may not be seen until Friday afternoon. Last year, the cash price was $156.26.
Choice boxed beef dropped $2.51 over the past week to $289.13. Last year at this time, Choice boxed beef prices were $264.86.
HOG COMMENTS
The average lean hog carcass price dropped $1.77 over the past week to $65.31. Last year’s lean carcass price on this date was $78.74.
The pork cutout value dropped $2.57 over the past week to $81.36. Last year at this time, the cutout price stood at $82.45.
