Midweek Cash Update (VIP) -- December 26, 2012

December 26, 2012 09:53 AM
 

CORN COMMENTS

The national average corn basis improved 1/2 cent from last week to stand 5 cents over March futures. The national average cash corn price declined 9 1/4 cents from last week to $6.98 1/4.

Basis remains much stronger than the three-year average, which is 13 cents below futures for this week.

 

SOYBEAN COMMENTS

The national average bean basis softened 3 1/4 cents from last week to stand 20 cents over January futures. The national average cash price declined 15 3/4 cents from last week to $14.44 1/2.

Basis is 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 firmed 1/4 cents from last week to 13 1/2 cents below March futures. The average cash price declined 31 cents to $7.61. The national average hard red winter (HRW) basis firmed 3 3/4 cent from last week to 45 cents under March futures. The average cash price softened 29 3/4 cents to $7.79 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 34 cents under futures and 77 cents under futures for HRW.

 

CATTLE COMMENTS

National average cash steer bid improved $1.88 last week to $126.18. Early expectations are for steady to firmer cash trade this week. Last year at this time, the cash price was $121.70.

Boxed beef prices improved 69 cents from last week, with Choice beef now at $194.24 Last year at this time, Choice boxed beef prices were $193.48.

 

HOG COMMENTS

The national average lean carcass bid declined 30 cents over the past week to $81.19. Last year's price on this date was $82.14.

The pork cutout value have declined 33 cents from last week to $82.70. Last year at this time, the average cutout price stood at $86.02.

 

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