CORN COMMENTS
The national average corn basis held at 3 cents above December futures. The national average cash corn price dropped 7 1/4 cents to $4.23.
Basis is in line with the three-year average of 3 3/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 1 3/4 cents to 2 cents below January futures. The national average cash price dropped 8 3/4 cents to $9.81 1/2.
Basis is weaker than the three-year average of 8 1/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis dropped 12 1/4 cents to 57 cents below December futures. The average cash price dropped 25 1/4 cents to $4.82 1/2. SRW basis is weaker than the three-year average of 52 cents under futures.
The national average hard red winter (HRW) wheat basis slipped 1/4 cent to 50 3/4 cents below December futures. The average cash price dropped 11 1/2 cents to $4.99 3/4. HRW basis is weaker than the three-year average of 38 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $186.39 last week, up $1.60 from the previous week. This week’s cash cattle trade is expected to be roughly steady. Last year, the cash price was $174.45.
Choice boxed beef firmed $5.18 over the past week to $311.57. Last year at this time, Choice boxed beef prices were $297.03.
HOG COMMENTS
The average lean hog carcass price dropped $2.53 over the past week to $83.46. Last year’s lean carcass price on this date was $68.26.
The pork cutout value dropped $3.45 over the past week to $91.15. Last year at this time, the cutout price stood at $83.97.