Midweek Cash -- (VIP) April 9, 2014

April 9, 2014 11:24 AM
 

 

CORN COMMENTS

The national average corn basis is unchanged from last week at 2 1/4 cents under May futures. The national average cash corn price firmed 6 1/4 cents from last week to $5.00.

Basis is softer than the three-year average, which is 22 1/2 cents above futures for this week.

 

SOYBEAN COMMENTS

The national average soybean basis firmed 1 1/2 cents from last week to 12 3/4 cents above May futures. The national average cash price firmed 34 1/4 cents from last week to $15.08.

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 firmed 5 1/2 cents from last week to stand 6 3/4 cents below May futures. The average cash price firmed 5 1/4 cents from last week to $6.62 1/4. The national average hard red winter (HRW) basis softened 1/2 cent from last week to 24 1/2 cents below March futures. The average cash price softened 6 cents from last week to $7.08 3/4.

Basis remains better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 15 3/4 cents under futures and 47 1/4 cents under futures for HRW.

 

CATTLE COMMENTS

Cash cattle trade averaged $149.71 last week, down $2.50 from the previous week. Cash trade so far this week has been very light at $2 lower than last week. Last year at this time, the cash price was $128.29.

Choice boxed beef prices softened $8.18 from last week to $225.46. Last year at this time, Choice boxed beef prices were $190.95.

HOG COMMENTS

The average lean hog carcass bid softened $1.12 over the past week to $129.19. Last year's lean carcass price on this date was $81.03.

Pork cutout values softened $6.80 from last week to $125.72. Last year at this time, the average cutout price stood at $77.11.


 

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