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 Comprehensive or Weekly Average Choice cutout was $249.56, $2.76 higher as meat buyers prepared for the Fourth of July weekend.
The Choice Chuck and Round were $4-8 higher this week and these two primal cuts were responsible for pushing the cutout much higher last summer on the heels of the demand for ground beef. It will be interesting to see if that reoccurs this summer since we are importing 34% more fresh beef and have 24% more beef in cold storage compared to last year.
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