Midweek Cash Markets | December 21, 2022
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CORN COMMENTS
The national average corn basis firmed 2 1/2 cents to stand 10 3/4 cents above March futures. The national average cash corn price firmed 14 1/2 cents to $6.73.
Basis is better than the three-year average of 2 3/4 cents over futures.
SOYBEAN COMMENTS
The national average soybean basis dropped 1 1/4 cents but remained 24 1/4 cents above January futures. The national average cash price dropped 2 1/2 cents to $15.05 1/4.
Basis is much better than the three-year average of 2 1/2 cents over futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis held at 33 1/2 cents under March futures. The average cash price firmed 18 1/2 cents to $7.34 1/4. SRW basis is much weaker than the three-year average of 13 1/4 cents under futures.
The national average hard red winter (HRW) wheat basis held at 38 cents below March futures. The average cash price firmed 13 3/4 cents to $8.26. HRW basis is weaker than the three-year average of 28 3/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $155.69 last week, down a dime from the previous week. Cash cattle are expected to trade about steady again this week. Last year, the cash price was $135.64.
Choice boxed beef surged $14.79 over the past week to $264.86. Last year, Choice boxed beef prices were $261.39.
HOG COMMENTS
The average lean hog carcass price dropped 91 cents over the past week to $78.87. Last year’s lean carcass price on this date was $72.96.
The pork cutout value dropped $1.82 over the past week to $82.45. Last year at this time, the cutout price stood at $84.91.
