Midweek Cash (VIP) -- December 4, 2013

December 4, 2013 10:46 AM
 

 

 

CORN COMMENTS

The national average corn basis softened 5 3/4 cents from last week to stand 1 3/4 cents under March futures. The national average cash corn price firmed 12 1/2 cents from last week to $4.34 3/4.

Basis is about in line with the three-year average, which is 2 cents under futures.

 

SOYBEAN COMMENTS

The national average soybean basis firmed 2 cents from last week to stand 6 1/2 cents over January futures. The national average cash price firmed 2 1/4 cents from last week to $13.36.

Basis remains better than the three-year average, which is 1 cent below futures for this week.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis firmed 8 1/2 cents from last week to 17 1/2 cents below March futures. The average cash price firmed 23 3/4 cents to $6.44 1/4. The national average hard red winter (HRW) basis firmed 2 3/4 cents from last week to 12 3/4 cents under March futures. The average cash price firmed 2 3/4 cents to $6.91 3/4.

Basis remains better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 36 1/2 cents under futures and 64 3/4 cents under futures for HRW.

 

CATTLE COMMENTS

Last week's cash cattle price averaged $132.66, up $2.11 from the previous week. Expectations are for steady cash cattle prices this week. Last year at this time, the cash price was $125.79.

Choice boxed beef prices firmed $1.88 from last week to $203.30. Last year at this time, Choice boxed beef prices were $194.89.

 

HOG COMMENTS

The average lean hog carcass bid advanced $1.86 over the past week to $82.69. Last year's lean carcass price on this date was $82.47.

Pork cutout values slipped 24 cents from last week to $88.67. Last year at this time, the average cutout price stood at $85.82.

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