Midweek Cash Markets (VIP) -- January 30, 2013

January 30, 2013 10:03 AM
 

 

CORN COMMENTS

The national average corn basis improved 2 3/4 cents from last week to stand 16 cents over March futures. The national average cash corn price improved 22 1/4 cents from last week to $7.56 1/4.

Basis remains much stronger than the three-year average, which is 3 1/2 cents below futures for this week.

 

SOYBEAN COMMENTS

The national average bean basis improved 1 cent from last week to stand 31 1/4 cents over March futures. The national average cash price improved 42 3/4 cents from last week to $15.10.

Basis remains much better than the three-year average, which is 6 1/4 cents under futures for this week.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis improved 2 cents from last week to 1 cent below March futures. The average cash price improved 14 1/4 cents to $7.86. The national average hard red winter (HRW) basis improved 3 cents from last week to 44 1/4 cents under March futures. The average cash price improved 13 1/2 cents to $7.96 1/2.

Basis remains much better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 37 cents under futures and 70 cents under futures for HRW.

 

CATTLE COMMENTS

National average cash steer bid dropped $1.33 last week to $122.60. This week's cash cattle trade got started at $125.00 in Kansas and Oklahoma today. Last year at this time, the cash price was $123.35.

Boxed beef prices declined $3.02 from last week, with Choice beef now at $186.76. Last year at this time, Choice boxed beef prices were $184.27.

 

HOG COMMENTS

The national average lean carcass bid firmed $1.30 over the past week to $88.30. Last year's price on this date was $87.94.

The pork cutout value improved 38 cents from last week to $85.46. Last year at this time, the average cutout price stood at $85.27.

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