Midweek Cash Markets | January 25, 2023

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CORN COMMENTS

The national average corn basis held at 7 1/4 cents above March futures. The national average cash corn price dropped 6 1/2 cents to $6.82.

Basis is better than the three-year average of 3 3/4 cents over futures.

SOYBEAN COMMENTS

The national average soybean basis firmed 2 1/2 cents to 13 1/2 cents above March futures. The national average cash price dropped 19 1/2 cents to $15.16.

Basis is much better than the three-year average of 3 1/2 cents under futures.

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis held at 27 cents under March futures. The average cash price dropped 1 1/4 cents to $7.14 1/4. SRW basis is much weaker than the three-year average of 8 3/4 cents under futures.

The national average hard red winter (HRW) wheat basis firmed 1/4 cent to 37 1/2 cents below March futures. The average cash price firmed 2 cents to $8.05 3/4. HRW basis is weaker than the three-year average of 27 3/4 cents under futures.

CATTLE COMMENTS

Cash cattle trade averaged $155.32 last week, down $1.46 from the previous week. Cash cattle are expected to trade about steady this week. Last year, the cash price was $136.95.

Choice boxed beef dropped $5.80 over the past week to $268.28. Last year at this time, Choice boxed beef prices were $289.46.

HOG COMMENTS

The average lean hog carcass price dropped $1.86 over the past week to $70.65. Last year’s lean carcass price on this date was $82.10.

The pork cutout value firmed $1.22 over the past week to $79.11. Last year at this time, the cutout price stood at $92.46.