Midweek Cash Markets (VIP) -- April 3, 2013

April 3, 2013 11:03 AM
 

CORN COMMENTS

The national average corn basis softened 1 cent from last week stand 22 1/2 cents over May futures. The national average cash corn price declined 89 3/4 cents from last week to $6.64.

Basis remains stronger than the three-year average, which is 4 1/2 cents below futures for this week.

 

SOYBEAN COMMENTS

The national average bean basis improved 2 1/4 cents from last week to stand 30 1/4 cents over May futures. The national average cash price softened 65 1/4 cents from last week to $14.10 1/2.

Basis remains much better than the three-year average, which is 9 cents under futures for this week.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis improved 2 3/4 cents from last week to 5 1/2 cents below May futures. The average cash price declined 32 1/4 cents to $6.91. The national average hard red winter (HRW) basis improved 1/4 cent from last week to 26 1/4 cents under May futures. The average cash price softened 33 cents to $7.09.

Basis remains much better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 36 cents under futures and 66 cents under futures for HRW.

 

CATTLE COMMENTS

National average cash steer bid improved $2.96 last week to $127.74. Cash cattle trade began today in the Southern Plains, with prices about steady with last week. Last year at this time, the cash price was $121.91.

Boxed beef prices improved $1.05 from last week, with Choice beef now at $191.48. Last year at this time, Choice boxed beef prices were $183.09.

 

HOG COMMENTS

The national average lean carcass bid improved $2.75 over the past week to $76.99. Last year's price on this date was $82.67.

The pork cutout value declined 64 cents from last week to $76.95. Last year at this time, the average cutout price stood at $78.42.

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