Midweek Cash Markets (VIP) -- February 13, 2013

February 13, 2013 10:00 AM
 

CORN COMMENTS

The national average corn basis improved 1 cent from last week to stand 21 cents over March futures. The national average cash corn price declined 26 cents from last week to $7.16 1/2.

Basis remains stronger than the three-year average, which is 1 3/4 cents below futures for this week.

 

SOYBEAN COMMENTS

The national average bean basis softened 3/4 cent from last week to stand 23 1/4 cents over March futures. The national average cash price declined 65 1/4 cents from last week to $14.46 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 5 3/4 cents from last week to 1 cent above March futures. The average cash price declined 20 1/4 cents to $7.36 1/4. The national average hard red winter (HRW) basis improved 5 cents from last week to 37 1/2 cents under March futures. The average cash price declined 24 1/2 cents to $7.42 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 36 cents under futures and 68 cents under futures for HRW.

 

CATTLE COMMENTS

National average cash steer bid softened 31 cents last week to $124.87. Light cash cattle trade was reported yesterday at $123, but no active trade has yet been reported. Last year at this time, the cash price was $128.03.

Boxed beef prices declined 26 cents from last week, with Choice beef now at $183.68. Last year at this time, Choice boxed beef prices were $189.38.

 

HOG COMMENTS

The national average lean carcass bid softened 96 cents over the past week to $88.96. Last year's price on this date was $87.19.

The pork cutout value declined $2.45 from last week to $79.96. Last year at this time, the average cutout price stood at $88.21.

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