Midweek Cash (VIP) -- March 19, 2014

March 19, 2014 11:29 AM
 

 

CORN COMMENTS

The national average corn basis softened 3/4 cents from last week to stand 3 1/2 cents under May futures. The national average cash corn price softened 1 1/2 cents from last week to $4.84 1/4.

Basis is softer than the three-year average, which is 7 cents above futures for this week.

 

SOYBEAN COMMENTS

The national average soybean basis firmed 6 cents from last week to 11 1/4 cents above May futures. The national average cash price firmed 50 1/4 cents from last week to $14.42 1/2.

Basis is firmer than the three-year average of 4 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 stand 12 3/4 cents below May futures. The average cash price firmed 31 1/2 cents from last week to $7.03. The national average hard red winter (HRW) basis softened 2 1/2 cents from last week to 21 1/2 cents below March futures. The average cash price firmed 38 cents from last week to $7.66 3/4.

Basis remains better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 18 cents under futures and 48 3/4 cents under futures for HRW.

 

CATTLE COMMENTS

Cash cattle trade averaged $149.95 last week, up 95 cents from the previous week. The expectation is for steady to firmer trade this week. Last year at this time, the cash price was $126.66.

Choice boxed beef prices firmed $1.86 from last week to $243.37. Last year at this time, Choice boxed beef prices were $193.41.

HOG COMMENTS

The average lean hog carcass bid firmed $8.98 over the past week to $116.55. Last year's lean carcass price on this date was $76.23.

Pork cutout values firmed $9.80 from last week to $129.30. Last year at this time, the average cutout price stood at $76.41.


 

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