Midweek Cash Markets | December 14, 2022

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CORN COMMENTS

The national average corn basis slipped 1/4 cent to stand 8 cents above March futures. The national average cash corn price firmed 9 cents to $6.58 1/2.

Basis is better than the three-year average of 2 1/4 cents over futures.

SOYBEAN COMMENTS

The national average soybean basis dropped 2 3/4 cent but remained 25 1/2 cents above January futures. The national average cash price firmed 7 cents to $15.07 3/4.

Basis is much better than the three-year average of 3 cents over futures.

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis firmed 6 1/2 cents to stand 33 1/2 cents under March futures. The average cash price firmed 6 1/4 cents to $7.15 3/4. SRW basis is much weaker than the three-year average of 14 cents under futures.

The national average hard red winter (HRW) wheat basis firmed 1/4 cent to stand 38 cents below March futures. The average cash price firmed 1 3/4 cents to $8.12 1/4. HRW basis is weaker than the three-year average of 29 1/4 cents under futures.

CATTLE COMMENTS

Cash cattle trade averaged $155.79 last week, down 63 cents from the previous week. Cash cattle are expected to trade about steady this week. Last year, the cash price was $137.19.

Choice boxed beef firmed $1.11 over the past week to $250.07. Last year, Choice boxed beef prices were $260.26.

HOG COMMENTS

The average lean hog carcass price dropped $1.97 over the past week to $79.78. Last year’s lean carcass price on this date was $70.32.

The pork cutout value dropped 18 cents over the past week to $84.27. Last year at this time, the cutout price stood at $87.83.