The national average corn basis held steady over the past week at 1/2 cent below May futures. The national average cash corn price dropped 3 1/4 cents to $3.31.
Basis is firmer than the three-year average, which is 8 cents below futures.
The national average soybean basis dropped 2 1/4 cents over the past week to 2 1/2 cents below May futures. The national average cash price dropped 10 1/4 cents on the week to $8.52 1/4.
Basis is much better than the three-year average of 31 cents under futures.
The national average soft red winter (SRW) wheat basis slipped 1 1/4 cents over the past week to 5 cents below May futures. The average cash price dropped 2 1/4 cents to $5.44 1/4. SRW basis is slightly better than the three-year average of 7 3/4 cents below futures.
The national average hard red winter (HRW) wheat basis firmed 1/2 cent over the past week to 27 3/4 cents below May futures. The average cash price slipped 1 1/4 cents over the past week to $4.45 1/2. HRW basis is much stronger than the three-year average of 50 1/2 cents under futures.
Cash cattle trade averaged $111.08 last week, down $8.23 from the previous week. Cash cattle trade started around $105 in the Southern and Central Plains. Last year, the cash price was $126.19.
Choice boxed beef prices plunged another $7.29 over the past week to $227.88. Last year, Choice boxed beef prices were $229.05.
The average lean hog carcass price plunged $8.94 over the past week to $55.52. Last year's lean carcass price on this date was $79.29.
The pork cutout value plunged another $7.48 over the past week to $53.70. Last year at this time, the cutout price stood at $78.63.