Midweek Cash Markets | January 12, 2022
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CORN COMMENTS
The national average corn basis firmed a penny over the past week to 3/4 cent above March futures. The national average cash corn price dropped 2 1/2 cents to $5.99 3/4.
Basis is slightly weaker than the three-year average of 1 3/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 1 1/2 cents over the past week to 4 1/4 cents above March futures. The national average cash price firmed 6 cents on the week to $14.03 1/2.
Basis is much better than the three-year average of 16 1/2 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis held at 29 3/4 cents under March futures. The average cash price fell 3 cents to $7.28. SRW basis is much weaker than the three-year average of 1/2 cent under futures.
The national average hard red winter (HRW) wheat basis firmed 4 1/2 cents to 23 cents below March futures. The average cash price dropped 4 1/2 cents to $7.55. HRW basis is slightly better than the three-year average of 29 1/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $138.41 last week, down $1.18 from the previous week. This week’s cash trade has been mostly in the $136 to $137 range thus far. Last year at this time, the cash price was $109.52.
Choice boxed beef prices firmed $13.00 over the past week to $279.93. Last year, Choice boxed beef prices were $211.00.
HOG COMMENTS
The average lean hog carcass price firmed $1.19 over the past week to $75.06. Last year’s lean carcass price on this date was $65.48.
The pork cutout value dropped $1.46 over the past week to $84.46. Last year at this time, the cutout price stood at $76.68.
