Midweek Cash Markets | November 24, 2023
CORN COMMENTS
The national average corn basis dropped 3/4 cent to 9 cents under December futures. The national average cash corn price dropped 2 3/4 cents to $4.59 3/4.
Basis is weaker than the three-year average of 6 3/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 6 1/4 cents to 13 1/2 cents under January futures. The national average cash price dropped 34 3/4 cents to $13.43.
Basis is weaker than the three-year average of 10 3/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 1 1/4 cents to 63 3/4 cents under December futures. The average cash price dropped 3 1/2 cents to $4.92. SRW basis is much weaker than the three-year average of 29 3/4 cents under futures.
The national average hard red winter (HRW) wheat basis held at 63 3/4 cents below December futures. The average cash price dropped 25 1/4 cents to $5.50 3/4. HRW basis is much weaker than the three-year average of 31 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $177.82 last week, down $2.09 from the previous week. Cash cattle trade this week took place at steady to $2 lower prices. Last year, the cash price was $156.07.
Choice boxed beef firmed 67 cents over the past week to $297.00. Last year at this time, Choice boxed beef prices were $252.56.
HOG COMMENTS
The average lean hog carcass price dropped $2.20 over the past week to $72.21. Last year’s lean carcass price on this date was $82.60.
The pork cutout value dropped $2.14 over the past week to $84.68. Last year at this time, the cutout price stood at $89.36.
