Midweek Cash (VIP) -- February 26, 2014

February 26, 2014 10:15 AM
 

 

CORN COMMENTS

The national average corn basis firmed by 3/4 cent from last week to stand 3 cents over March futures. The national average cash corn price firmed 2 1/2 cents from last week to $4.58 1/2.

Basis is weaker than the three-year average, which is 10 cents over futures for this week.

 

SOYBEAN COMMENTS

The national average soybean basis softened 4 cents from last week at 2 cents above March futures. The national average cash price improved 49 cents from last week to $14.09 1/4.

Basis is a firmer than the three-year average, which is even with futures for this week.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis firmed 5 3/4 cents from last week to 3/4 cent above March futures. The average cash price softened 14 1/2 cents to $6.00 3/4. The national average hard red winter (HRW) basis softened 1/4 cent from last week to 14 3/4 cents below March futures. The average cash price softened 13 3/4 cents to $6.64 1/4.

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 $3.65 higher last week at $145.54. Cash cattle trade has begun in Kansas and Texas at $150.00 to $152.00. Last year at this time, the cash price was $123.82.

Choice boxed beef prices improved $5.10 from last week to $218.95. Last year at this time, Choice boxed beef prices were $185.57.

HOG COMMENTS

The average lean hog carcass bid firmed $5.19 over the past week to $93.67. Last year's lean carcass price on this date was $80.40.

Pork cutout values firmed $5.79 from last week to $99.83. Last year at this time, the average cutout price stood at $81.95.


 

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