Midweek Cash Markets | January 19, 2022
The national average corn basis firmed 2 1/4 cents over the past week to 3 cents above March futures. The national average cash corn price firmed 13 3/4 cents to $6.13 1/2.
Basis is slightly better than the three-year average of 3/4 cent under futures.
The national average soybean basis fell 2 1/4 cents over the past week but remains 2 cents above March futures. The national average cash price dropped 10 1/4 cents on the week to $13.93 1/4.
Basis is much better than the three-year average of 17 1/4 cents under futures.
The national average soft red winter (SRW) wheat basis slipped 1/4 cent to 30 cents under March futures. The average cash price firmed 38 1/2 cents to $7.66 1/2. SRW basis is much weaker than the three-year average of 3 1/4 cent under futures.
The national average hard red winter (HRW) wheat basis held at 23 cents below March futures. The average cash price firmed 22 cents to $7.77. HRW basis is slightly better than the three-year average of 28 3/4 cents under futures.
Cash cattle trade averaged $136.61 last week, down $1.80 from the previous week. This week’s cash trade started around generally steady prices. Last year at this time, the cash price was $109.23.
Choice boxed beef prices firmed another $11.67 over the past week to $291.60. Last year, Choice boxed beef prices were $218.91.
The average lean hog carcass price firmed $1.79 over the past week to $76.85. Last year’s lean carcass price on this date was $65.67.
The pork cutout value firmed $11.01 over the past week to $95.47. Last year at this time, the cutout price stood at $77.92.