Midweek Cash (VIP) -- April 23, 2014

April 23, 2014 11:17 AM
 

 

CORN COMMENTS

The national average corn basis firmed 1/4 cent from last week to 1/4 cent under May futures. The national average cash corn price is unchanged from last week at $5.03 1/4.

Basis is softer than the three-year average, which is 15 cents above futures for this week.

 

SOYBEAN COMMENTS

The national average soybean basis firmed 2 3/4 cents from last week to 15 1/4 cents above May futures. The national average cash price fell 30 cents from last week to $14.83 3/4.

Basis is firmer than the three-year average of 7 1/2 cents above futures for this week.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis softened 2 cents from last week to stand 9 3/4 cents below May futures. The average cash price fell 27 1/4 cents from last week to $6.66 3/4. The national average hard red winter (HRW) basis firmed 4 3/4 cents from last week to 23 cents below March futures. The average cash price softened 15 cents from last week to $7.22 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 $146.93 last week, down $2.23 from the previous week. Cash trade is expected to be slightly firmer this week. Last year at this time, the cash price was $126.30.

Choice boxed beef prices firmed $9.78 from last week to $232.64. Last year at this time, Choice boxed beef prices were $191.54.

HOG COMMENTS

The average lean hog carcass bid softened $7.86 over the past week to $117.69. Last year's lean carcass price on this date was $80.68.

Pork cutout values softened $4.64 from last week to $115.97. Last year at this time, the average cutout price stood at $84.86.


 

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