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 early grilling season rally has topped out, but that is not totally unusual. The same thing happened in 2014 when we had a very large early rally, but it rebounded partially later in the spring. The Choice Rib and Loin continue with the seasonal rally but the Round and Chuck have been dropping much lower and faster than previous years. They also represent a larger portion of the carcass than the Rib and Loin so they have had a much more negative impact on the cutout.