Midweek Cash Markets | October 6, 2021

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CORN COMMENTS

The national average corn basis firmed 1 1/4 cents over the past week to 12 3/4 cents under December futures. The national average cash corn price fell 5 1/2 cents to $5.19 1/2.

Basis is slightly weaker than the three-year average of 13 3/4 cents under futures.

SOYBEAN COMMENTS

The national average soybean basis firmed 4 1/4 cents over the past week to stand 17 cents below November futures. The national average cash price fell 37 1/2 cents on the week to $12.25.

Basis is better than the three-year average of 30 1/2 cents under futures.

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis firmed 6 1/2 cents to 30 cents under December futures. The average cash price firmed 42 1/4 cents to $7.16. SRW basis is much weaker than the three-year average of 8 cents under futures.

The national average hard red winter (HRW) wheat basis firmed 1/2 cent to 26 1/2 cents below December futures. The average cash price rose 33 3/4 cents to $7.18 1/2. HRW basis is better than the three-year average of 37 cents under futures.

CATTLE COMMENTS

Cash cattle trade averaged $122.56 last week, down $1.08 from the previous week. This week’s trade started at steady to slightly lower levels than last week.  Last year at this time, the cash price was $107.12.

Choice boxed beef prices fell another $10.71 over the past week to $286.62. Last year, Choice boxed beef prices were $217.74.

HOG COMMENTS

The average lean hog carcass price firmed 59 cents over the past week to $93.51. Last year's lean carcass price on this date was $76.54.

The pork cutout value fell $2.25 over the past week to $112.86. Last year at this time, the cutout price stood at $93.72.