Midweek Cash (VIP) -- April 15, 2014

April 15, 2014 11:19 AM
 

 

CORN COMMENTS

The national average corn basis firmed 1 1/4 from last week to 1/2 cent under May futures. The national average cash corn price firmed 3 1/4 cents from last week to $5.03 1/4.

Basis is softer than the three-year average, which is 7 cents above futures for this week.

 

SOYBEAN COMMENTS

The national average soybean basis softened 1/4 cent from last week to 12 1/2 cents above May futures. The national average cash price firmed 5 3/4 cents from last week to $15.13 3/4.

Basis is much softer than the three-year average of 34 3/4 cents above futures for this week.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis softened 1 cent from last week to stand 7 3/4 cents below May futures. The average cash price firmed 31 3/4 cents from last week to $6.94. The national average hard red winter (HRW) basis softened 3 1/4 cents from last week to 27 3/4 cents below March futures. The average cash price firmed 29 cents from last week to $7.37 3/4.

Basis remains better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 16 1/4 cents under futures and 48 1/4 cents under futures for HRW.

 

CATTLE COMMENTS

Cash cattle trade averaged $149.16 last week, down 55 cents from the previous week. Cash trade is expected to be softer this week. Last year at this time, the cash price was $127.20.

Choice boxed beef prices softened $2.60 from last week to $222.86. Last year at this time, Choice boxed beef prices were $191.33.

HOG COMMENTS

The average lean hog carcass bid softened $3.64 over the past week to $125.55. Last year's lean carcass price on this date was $81.69.

Pork cutout values softened $5.11 from last week to $120.61. Last year at this time, the average cutout price stood at $83.19.


 

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