The daily spot Choice box beef cutout ended the week last Friday at $214.31 which was $6.73 lower compared to previous Friday. It did rebound a little on Monday, but dropped more on Tuesday and Wednesday, however declines have been much smaller. The daily Choice rib primal was $20 lower by Friday and the daily choice loin primal was $8 lower for the week, then $14 lower by Tuesday, April 10th, both driving the cutout lower. The Daily Choice Cutout has been following the previous two years very closely lately but last year’s grilling season rebound was much larger than 2016 driving the Choice/Select spread to $30 dollars in June 2017.
There were 7,008 total box beef loads sold for the week which was 95 loads higher than the previous week and helped by the bigger out-front sales lately which included bigger numbers of long-term forward contracts.