Meat Market Update | Choice cutout plummets, loses $4 late in week

Ed Czerwien, USDA Market News reporter in Amarillo, Texas, offers a concise summary of how last week's beef trade impacted the cattle market and beef prices.

The daily Choice cutout started to plummet and lost over $4 late in the week. However the weekly average Choice cutout jumped over $2 because of the formula sales that were about 60% of the total sales. Many of the formula prices, but not all, are based off of previous week's spot or negotiated prices so they stayed stable or increased, pulling the cutout higher in spite of the declining daily Choice Cutout.

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