Midweek Cash (VIP) -- February 19, 2014

February 19, 2014 09:58 AM
 

CORN COMMENTS

The national average corn basis firmed by 1 3/4 cent from last week to stand 2 1/4 cent over March futures. The national average cash corn price firmed 15 1/2 cents from last week to $4.56.

Basis is weaker than the three-year average, which is 8 3/4 cents over futures for this week.

 

SOYBEAN COMMENTS

The national average soybean basis is unchanged from last week at 6 cents above March futures. The national average cash price improved 31 1/4 cents from last week to $13.60 1/4.

Basis is a firmer than the three-year average, which is 3 1/2 cents above futures for this week.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis firmed 3 cents from last week to 5 cents below March futures. The average cash price firmed 30 1/4 cents to $6.15 1/4. The national average hard red winter (HRW) basis is unchanged from last week at 14 1/2 cents under March futures. The average cash price firmed 29 1/2 cents to $6.78.

Basis remains better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 12 3/4 cents under futures and 51 1/4 cents under futures for HRW.

 

CATTLE COMMENTS

Cash cattle trade averaged $1.27 higher last week at $141.89. Expectations are for higher trade this week. Last year at this time, the cash price was $122.59.

Choice boxed beef prices improved $5.80 from last week to $213.85. Last year at this time, Choice boxed beef prices were $182.31.

HOG COMMENTS

The average lean hog carcass bid firmed $3.71 over the past week to $88.48. Last year's lean carcass price on this date was $85.70.

Pork cutout values firmed $1.09 from last week to $94.04. Last year at this time, the average cutout price stood at $82.35.


 

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