Midweek Cash Markets | August 10, 2022
The national average corn basis slipped 1/4 cent but remained 70 cents above September futures. The national average cash corn price firmed 29 1/2 cents to $6.91 1/4.
Basis is much better than the three-year average of 26 1/4 cents above futures.
The national average soybean basis slipped 1 1/2 cents but remained $1.25 above November futures. The national average cash price firmed 56 1/2 cents to $15.52 3/4.
Basis is much better than the three-year average of 8 1/2 cents above futures.
The national average soft red winter (SRW) wheat basis firmed 3/4 cent to 40 3/4 cents under September futures. The average cash price firmed 36 3/4 cents to $7.59. SRW basis is much weaker than the three-year average of 8 1/4 cents under futures.
The national average hard red winter (HRW) wheat basis improved 1/2 cent to 44 cents below September futures. The average cash price firmed 37 3/4 cents to $8.28 3/4. HRW basis is much weaker than the three-year average of 23 1/2 cents under futures.
Cash cattle trade averaged $140.84 last week, up $1.01 from the previous week. This week’s cash trade is expected to be about steady. Last year at this time, the cash price was $123.28.
Choice boxed beef fell $4.71 over the past week to $263.23. Last year, Choice boxed beef prices were $310.80.
The average lean hog carcass price firmed 92 cents over the past week to $119.86. Last year’s lean carcass price on this date was $105.94.
The pork cutout value fell $1.82 over the past week to $123.67. Last year at this time, the cutout price stood at $122.34.