Midweek Cash Markets | February 14, 2024
CORN COMMENTS
The national average corn basis slipped 1/4 cent to 3/4 cent below March futures. The national average cash corn price dropped 10 1/4 cents to $4.23 1/2.
Basis is weaker than the three-year average of 6 1/2 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis inched up 1/4 cent to a penny below March futures. The national average cash price dropped 18 1/4 cents to $11.69 1/2.
Basis is weaker than the three-year average of 2 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 1 3/4 cents to 57 1/2 cents under March futures. The average cash price dropped 14 3/4 cents to $5.28. SRW basis is much weaker than the three-year average of 26 1/2 cents under futures.
The national average hard red winter (HRW) wheat basis inched up 1/4 cent to 58 1/4 cents below March futures. The average cash price dropped 30 1/4 cents to $5.29 1/2. HRW basis is much weaker than the three-year average of 28 1/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $181.15 last week, up $3.35 from the previous week. This week’s cash cattle trade started around $2.00 lower in the Southern Plains. Last year, the cash price was $161.17.
Choice boxed beef dropped 98 cents over the past week to $294.00. Last year at this time, Choice boxed beef prices were $275.67.
HOG COMMENTS
The average lean hog carcass price slipped 36 cents over the past week to $72.42. Last year’s lean carcass price on this date was $76.41.
The pork cutout value firmed $1.91 over the past week to $85.90. Last year at this time, the cutout price stood at $80.94.
