Midweek Cash Markets (VIP) -- April 17, 2013

April 17, 2013 11:09 AM
 

CORN COMMENTS

The national average corn basis softened 1/4 cent over the past week to stand 22 1/2 cents over May futures. The national average cash corn price firmed 11 1/4 cents from last week to $6.83.

Basis remains much stronger than the three-year average, which is steady with futures for this week.

 

SOYBEAN COMMENTS

The national average bean basis softened 5 cents from last week to stand 29 cents over May futures. The national average cash price firmed 23 3/4 cents from last week to $14.51 1/4.

Basis remains much better than the three-year average, which is 5 cents under futures for this week.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis improved 1/4 cent from last week to 5 cents below May futures. The average cash price firmed 7 1/4 cents to $6.98 3/4. The national average hard red winter (HRW) basis slipped 4 cents from last week to 31 cents under May futures. The average cash price improved 7 3/4 cents to $7.10 3/4.

Basis remains much better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 34 cents under futures and 65 cents under futures for HRW.

 

CATTLE COMMENTS

National average cash steer bid fell $1.09 last week to $127.20. Light cash cattle trade was reported at $125 but has not set the tone for the week. Last year at this time, the cash price was $122.71.

Boxed beef prices increased 38 cents from last week, with Choice beef now at $191.33. Last year at this time, Choice boxed beef prices were $185.76.

 

HOG COMMENTS

The national average lean carcass bid moved 66 cents higher over the past week to $81.69. Last year's price on this date was $82.59.

The pork cutout value firmed $6.08 from last week to $83.19. (The mandatory report has ceased and this reflects the Omaha market). Last year at this time, the average cutout price stood at $76.53.

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