CORN COMMENTS
The national average corn basis firmed 3 1/2 cents to 1/2 cent above December futures. The national cash corn index price rose 7 1/2 cent from last Wednesday to $4.48 3/4.
National basis is now firmer than the three-year average of 5 3/4 cents below futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 1 1/4 cents from last week to 6 1/2 cents below January futures. The national cash soybean index price rose 29 1/2 cents to $12.24 1/4.
National basis is now firmer than the three-year average of 11 cents below futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis slipped 3/4 cent to 51 1/2 cents below December futures. The average cash price rose 1/4 cent to $5.48 1/4. SRW basis is firmer than the three-year average of 45 1/4 cents below December futures.
The national average hard red winter (HRW) wheat basis slipped 2 cents at 64 1/2 cents below December futures. The average cash price rose 4 1/2 cents to $5.75 1/4. HRW basis is just weaker than the three-year average of 61 1/2 cents below futures.
COTTON COMMENTS
The seven-market average cotton price was 73.36 cents last week, down 74 points from the previous week. Last year at this time the weekly cotton spot price was 61.43 cents. USDA reported transactions of 17,024 bales last week, up from 7,616 bales reported the week prior and compared to 14,121 from the same period a year prior.
Basis firmed 93 points from last week at 353 basis points under the December contract and is firmer than the three-year average of 427 points under the contract.
CATTLE COMMENTS
Cash cattle trade averaged $215.43 last week, down $8.30 from the previous week. Last year at this time cash cattle averaged $228.70. So far this week, USDA has not reported any live cash cattle trade thus far this week.
Choice boxed beef fell $2.24 over the past week to $360.26. Last year on this date, choice beef was $379.22.
HOG COMMENTS
The average lean hog carcass price was down $7.23 over the last week and stands at $41.07. Last year on this day the lean hog carcass value was $82.12.
The pork cutout value fell $3.16 over the past week to $69.29, according to this afternoon’s report. Last year at this time the pork cutout value was $97.38.