Midweek Cash (VIP) -- December 11, 2013

December 11, 2013 10:19 AM
 

 

CORN COMMENTS

The national average corn basis improved 1/4 cent from last week to stand 1 1/2 cents under March futures. The national average cash corn price firmed 3 cents from last week to $4.37 3/4.

Basis is a little weaker than the three-year average, which is steady with futures.

 

SOYBEAN COMMENTS

The national average soybean basis softened 1 3/4 cents from last week to stand 4 3/4 cents over January futures. The national average cash price firmed 12 3/4 cents from last week to $13.48 3/4.

Basis is in line with the three-year average, which is 5 cents above futures for this week.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis softened 1/2 cent from last week to 18 cents below March futures. The average cash price softened 21 1/2 cents to $6.22 3/4. The national average hard red winter (HRW) basis declined 1/4 cent from last week to 13 cents under March futures. The average cash price declined 19 1/4 cents to $6.71 3/4.

Basis remains better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 29 cents under futures and 60 cents under futures for HRW.

 

CATTLE COMMENTS

Last week's cash cattle price averaged $131.95, down 71 cents from the previous week. Expectations are for steady to weaker cash cattle prices this week. Last year at this time, the cash price was $124.30.

Choice boxed beef prices fell 69 cents from last week to $202.61. Last year at this time, Choice boxed beef prices were $195.78.

HOG COMMENTS

The average lean hog carcass bid declined $1.34 over the past week to $81.35. Last year's lean carcass price on this date was $84.51.

Pork cutout values firmed 95 cents from last week to $89.62. Last year at this time, the average cutout price stood at $85.82.


 

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