Midweek Cash Markets | December 6, 2023

CORN COMMENTS

The national average corn basis dropped 16 cents to 22 1/2 cents under March futures. The national average cash corn price firmed 18 1/2 cents to $4.61 3/4.

Basis is much weaker than the three-year average of 5 1/4 cents above futures.

SOYBEAN COMMENTS

The national average soybean basis inched up 1/2 cent to 12 3/4 cents under January futures. The national average cash price dropped 51 cents to $12.82 3/4.

Basis is much weaker than the three-year average of 13 cents above futures.

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis firmed a nickel to 56 1/4 cents under March futures. The average cash price jumped 82 1/2 cents to $5.77 1/4. SRW basis is much weaker than the three-year average of 32 3/4 cents under futures.

The national average hard red winter (HRW) wheat basis dropped 1 1/2 cents to 65 1/4 cents below March futures. The average cash price firmed 14 1/2 cents to $5.90 3/4. HRW basis is much weaker than the three-year average of 31 3/4 cents under futures.

CATTLE COMMENTS

Cash cattle trade averaged $174.45 last week, down $2.32 from the previous week. Cash cattle trade so far this week has been at $2.00 to $4.00 lower prices. Last year, the cash price was $155.79.

Choice boxed beef dropped $6.47 over the past week to $290.56. Last year at this time, Choice boxed beef prices were $248.96.

HOG COMMENTS

The average lean hog carcass price dropped $1.48 over the past week to $68.26. Last year’s lean carcass price on this date was $79.78.

The pork cutout value dropped 77 cents over the past week to $83.20. Last year at this time, the cutout price stood at $84.45.