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CORN COMMENTS
The national average corn basis firmed 5 1/2 cents to 12 1/2 cents above December futures. The national average cash corn price firmed 6 1/4 cents to $6.77 3/4.
Basis is better than the three-year average of 1 1/2 cents over futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 2 1/2 cents to 28 cents above January futures. The national average cash price dropped 20 1/4 cents to $14.57 1/4.
Basis is much better than the three-year average of 5 1/4 cents under futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 2 3/4 cents to 42 cents under December futures. The average cash price firmed 13 3/4 cents to $7.75 1/2. SRW basis is much weaker than the three-year average of 18 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 1/2 cent to 39 cents below December futures. The average cash price firmed 26 cents to $9.16 1/2. HRW basis is weaker than the three-year average of 29 1/2 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $152.71 last week, up 73 cents from the previous week. Cash cattle are expected to trade slightly firmer again this week. Last year, the cash price was $133.11.
Choice boxed beef dropped $7.58 over the past week to $257.09. Last year, Choice boxed beef prices were $278.47.
HOG COMMENTS
The average lean hog carcass price dropped 87 cents over the past week to $86.98. Last year’s lean carcass price on this date was $68.43.
The pork cutout value dropped 49 cents over the past week to $93.63. Last year at this time, the cutout price stood at $84.52.