Midweek Cash (VIP) -- December 18, 2013

December 18, 2013 10:25 AM
 

 

CORN COMMENTS

The national average corn basis firmed 1/4 cent from last week to stand 1 1/4 cents under March futures. The national average cash corn price softened 14 cents from last week to $4.23 3/4.

Basis is even with the three-year average.

 

SOYBEAN COMMENTS

The national average soybean basis softened 4 cents from last week to stand 3/4 cent over January futures. The national average cash price softened 24 cents from last week to $13.24 3/4.

Basis is very close to the three-year average, which is 3 cents above futures for this week.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis firmed 10 1/4 cents from last week to 7 3/4 cents below March futures. The average cash price softened 17 3/4 cents to $6.05. The national average hard red winter (HRW) basis firmed 3/4 cent from last week to 12 1/4 cents under March futures. The average cash price declined 30 1/4 cents to $6.41 1/2.

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 59 cents under futures for HRW.

 

CATTLE COMMENTS

Last week's cash cattle price averaged $130.61, down $1.34 from the previous week. Expectations are for steady cash cattle prices this week. Last year at this time, the cash price was $124.30.

Choice boxed beef prices fell $4.43 from last week to $198.18. Last year at this time, Choice boxed beef prices were $193.55.

HOG COMMENTS

The average lean hog carcass bid declined 46 cents over the past week to $80.59. Last year's lean carcass price on this date was $81.49.

Pork cutout values fell $1.11 from last week to $88.51 Last year at this time, the average cutout price stood at $83.58.

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