Midweek Cash Markets (VIP) -- March 20, 2013

March 20, 2013 11:03 AM
 

CORN COMMENTS

The national average corn basis softened 4 1/2 cent from last week stand 26 cents over May futures. The national average cash corn price improved 17 3/4 cents from last week to $7.58 1/2.

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

 

SOYBEAN COMMENTS

The national average bean basis softened 5 1/2 cent from last week to stand 26 cents over May futures. The national average cash price softened 32 3/4 cents from last week to $14.45 3/4.

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

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis improved 2 cents from last week to 3/4 cents below May futures. The average cash price improved 28 cents to $7.35 1/4. The national average hard red winter (HRW) basis improved 4 1/2 cents from last week to 26 cents under May futures. The average cash price improved 37 3/4 cents to $7.39.

Basis remains much better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 40 cents under futures and 68 cents under futures for HRW.

 

CATTLE COMMENTS

National average cash steer bid dropped a $1.06 last week to $126.66. Cash cattle trade has been light so far this week, but started $1 to $2 lower than last week. Last year at this time, the cash price was $126.59.

Boxed beef prices declined $4.08 from last week, with Choice beef now at $193.41. Last year at this time, Choice boxed beef prices were $188.97.

 

HOG COMMENTS

The national average lean carcass bid softened $1.26 over the past week to $76.23. Last year's price on this date was $87.94.

The pork cutout value softened $2.03 from last week to $76.41. Last year at this time, the average cutout price stood at $79.99.

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