Midweek Cash (VIP) -- October 2, 2013

October 2, 2013 10:56 AM
 

 

 

CORN COMMENTS

The national average corn basis softened 4 cents to stand 7 1/4 cents under December futures. The national average cash corn price fell 24 3/4 cents from last week to $4.31 3/4.

Basis remains stronger than the three-year average, which is 12 1/4 cents below futures.

 

SOYBEAN COMMENTS

The national average bean basis softened 11 1/2 cents to 7 cents under November futures. The national average cash price softened 66 1/4 cents from last week to $12.59 3/4.

Basis remains much better than the three-year average, which is 25 cents below futures for this week.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis firmed 2 1/2 cents to 36 3/4 cents below December futures. The average cash price firmed 18 cents to $6.49 1/4. The national average hard red winter (HRW) basis was steady at 13 1/2 cents under December futures. The average cash price firmed 36 1/4 cents to $7.41.

Basis remains much better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 61 cents under futures and 70 cents under futures for HRW.

 

CATTLE COMMENTS

National average cash steer bids firmed $1.73 last week to $125.80. This week the cash market is expected to be steady to $1 higher from last week. Last year at this time, the cash price was $123.47.

Boxed beef prices are unavailable due to the government shutdown. Last year at this time, Choice boxed beef prices were $190.70.

 

HOG COMMENTS

Average lean carcass bids are unavailable due to the government shutdown, but the cash market has gradually drifted lower so far this week. Last year's lean carcass price on this date was $77.76.

The pork cutout values are unavailable due to the government shutdown. Last year at this time, the average cutout price stood at $86.65.

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