Midweek Cash Markets | January 5, 2022

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CORN COMMENTS

The national average corn basis firmed a penny over the past week to 1/4 cent below March futures. The national average cash corn price dropped 1 1/2 cents to $6.02.

Basis is slightly weaker than the three-year average of 2 cents above futures.

SOYBEAN COMMENTS

The national average soybean basis dropped 2 cents over the past week but remains 2 3/4 cents above March futures. The national average cash price firmed 33 1/2 cents on the week to $13.97 1/2.

Basis is much better than the three-year average of 17 3/4 cents under futures.

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis firmed 3 cents to 29 3/4 cents under March futures. The average cash price fell 19 3/4 cents to $7.31. SRW basis is much weaker than the three-year average of 2 1/2 cents under futures.

The national average hard red winter (HRW) wheat basis fell 4 1/2 cents to 27 1/2 cents below March futures. The average cash price dropped 39 1/2 cents to $7.59 1/2. HRW basis is slightly better than the three-year average of 29 3/4 cents under futures.

CATTLE COMMENTS

Cash cattle trade averaged $139.59 last week, up $3.95 from the previous week. Light cash cattle trade started around $1 to $2 lower than last week. Last year at this time, the cash price was $111.27.

Choice boxed beef prices firmed $2.27 over the past week to $266.93. Last year, Choice boxed beef prices were $205.27.

HOG COMMENTS

The average lean hog carcass price firmed $2.05 over the past week to $73.87. Last year’s lean carcass price on this date was $62.42.

The pork cutout value dropped 97 cents over the past week to $85.92. Last year at this time, the cutout price stood at $75.44.