Midweek Cash (VIP) -- October 24, 2013

October 23, 2013 11:42 AM
 

 

CORN COMMENTS

The national average corn basis softened 1 3/4 cents to stand 9 cents under December futures. The national average cash corn price softened 1 3/4 cents from last week to $4.33 3/4.

Basis is slightly weaker than the three-year average, which is 5 1/4 cents below futures.

 

SOYBEAN COMMENTS

The national average soybean basis firmed 7 3/4 cents to 2 1/4 cents under November futures. The national average cash price firmed 43 1/2 cents from last week to $13.07 3/4.

Basis remains better than the three-year average, which is 20 cents below futures for this week.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis softened 2 1/4 cents to 30 cents below December futures. The average cash price firmed 18 cents to $6.71 3/4. The national average hard red winter (HRW) basis softened 1 3/4 cents to 15 1/2 cents under December futures. The average cash price firmed 20 3/4 cents to $7.55 1/4.

Basis remains better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 43 3/4 cents under futures and 66 3/4 cents under futures for HRW.

 

CATTLE COMMENTS

Last week's cash cattle trade largely occurred at $130.50. Cash trade began this week at $131-$133. Last year at this time, the cash price was $126.11.

Choice boxed beef prices have firmed $5.91 from last week to $200.79. Last year at this time, Choice boxed beef prices were $199.38.

 

HOG COMMENTS

Average lean carcass bids are at $91.25. Last year's lean carcass price on this date was $83.21.

Pork cutout values are $2.24 higher than last week at $93.42. Last year at this time, the average cutout price stood at $85.42.

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