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 main driver behind the increased Choice cutout has been the rib, as the chuck and loin primal cut prices have been mostly steady. Rib prices increased very dramatically in the last week, jumping another $10 to set new high prices. They have jumped about $60 since the first week of October. Like it has been said in the past, this rally is a normal seasonal event since Prime Rib is used during many company Christmas parties.
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