CORN COMMENTS
The national average corn basis firmed 1 1/2 cents to 4 1/2 cents below March futures. The national average cash corn price dropped 17 3/4 cents to $4.73 1/4.
Basis is much weaker than the three-year average of 7 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 3 3/4 cents to 10 3/4 cents below March futures. The national average cash price dropped 3 1/2 cents to $10.13 3/4.
Basis is much weaker than the three-year average of 3 3/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed 2 1/4 cents to 35 1/4 cents below March futures. The average cash price fell 23 3/4 cents to $5.30 3/4. SRW basis is better than the three-year average of 39 1/2 cents under futures.
The national average hard red winter (HRW) wheat basis firmed 6 cents to 52 1/4 cents below March futures. The average cash price dropped 22 3/4 cents to $5.32 3/4. HRW basis is much weaker than the three-year average of 41 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $199.64 last week, down $3.27 from the previous week. Cash cattle are expected to trade lower again this week. Last year, the cash price was $182.95.
Choice boxed beef dropped 99 cents over the past week to $312.90. Last year at this time, Choice boxed beef prices were $303.03.
HOG COMMENTS
The average lean hog carcass price dropped $1.46 over the past week to $87.14. Last year’s lean carcass price on this date was $78.02.
The pork cutout value firmed $1.14 over the past week to $96.66. Last year at this time, the cutout price stood at $90.34.