Ed Czerwien, USDA Market News reporter in Amarillo, TX, provides us with the latest outlook on boxed beef prices and the weekly cattle trade.
The daily and weekly avg choice cutout were both quite a bit lower again this week since meat buyers had been extremely cautious watching the big discount that the June CME Live Cattle had compared to the April before it closed out.
That big June CME discount, probably influenced meat buyers to wait as long as possible before ordering. However the daily Choice cutout started to rebound and climbed about 10 dollars May 9 thru 11 as buyers who were short bought jumped back into the market.
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