The daily Choice Primal Rib rally continued to pull the cutout higher as it jumped from $290 to $397 in the last couple of months. However, the weekly average Choice Primal Rib was actually $8 lower this week because of 1.1 million lbs. of out-front boneless ribeye sales whose average price was $576 compared to the current negotiated average price of $857 per cwt. The Rib Primal normally skyrockets prior to the holiday Christmas party season but then usually falls like a rock in mid December when buying for the parties are over.
Meat Market Update | Rib primal cuts rally prices
Get the latest boxed beef report from USDA market reporter Ed Czerwien.