CORN COMMENTS
The national average corn basis dropped 3 3/4 cents to 24 1/2 cents under December futures. The national average cash corn price fell 2 3/4 cents to $4.58 3/4.
Basis is much weaker than the three-year average of 7 3/4 cents below futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 20 cents to 33 3/4 cents under November futures. The national average cash price dropped 36 3/4 cents to $12.69 1/2.
Basis is much weaker than the three-year average of 5 3/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis slipped 1/2 cent to stand 90 3/4 cents under December futures. The average cash price dropped 9 3/4 cents to $4.88 3/4. SRW basis is much weaker than the three-year average of 30 1/2 cents under futures.
The national average hard red winter (HRW) wheat basis held at 65 3/4 cents below December futures. The average cash price dropped 23 3/4 cents to $6.28 3/4. HRW basis is much weaker than the three-year average of 33 1/2 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $184.73 last week, up 69 cents from the previous week. Initial cash cattle trade this week was reported at steady/lower prices. Last year, the cash price was $144.78.
Choice boxed beef dropped 31 cents over the past week to $300.95. Last year at this time, Choice boxed beef prices were $247.55.
HOG COMMENTS
The average lean hog carcass price slipped 38 cents over the past week to $84.23. Last year’s lean carcass price on this date was $91.16.
The pork cutout value dropped $1.46 over the past week to $97.76. Last year at this time, the cutout price stood at $100.77.