Midweek Cash Markets | April 3, 2024
CORN COMMENTS
The national average corn basis firmed 3 1/2 cents to 2 1/4 cents below May futures. The national average cash corn price firmed 2 3/4 cents to $4.29 1/2.
Basis is weaker than the three-year average of 8 1/2 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 1 1/4 cents to 3 1/4 cents under May futures. The national average cash price dropped 18 cents to $11.79.
Basis is weaker than the three-year average of 10 1/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis dropped 7 1/4 cents to 56 1/4 cents under May futures. The average cash price firmed 5 1/4 cents to $4.99 3/4. SRW basis is weaker than the three-year average of 37 3/4 cents under futures.
The national average hard red winter (HRW) wheat basis dropped a penny to 53 1/2 cents below May futures. The average cash price firmed 2 1/4 cents to $5.27. HRW basis is weaker than the three-year average of 42 1/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $188.23 last week, down $1.33 from the previous week. Cash cattle are expected to trade lower again this week. Last year, the cash price was $173.10.
Choice boxed beef dropped $9.79 over the past week to $301.30. Last year at this time, Choice boxed beef prices were $287.94.
HOG COMMENTS
The average lean hog carcass price firmed 89 cents over the past week to $82.73. Last year’s lean carcass price on this date was $72.64.
The pork cutout value dropped 50 cents over the past week to $94.83. Last year at this time, the cutout price stood at $76.85.
