Stock Up On Retail Beef For Your Freezer NowStock Up On Retail Beef For Your Freezer Now
Wholesale beef prices up 20% since Jan. 1 point to higher retail meat prices soon. Retail beef prices lag wholesale prices going up and also coming down.
January 26, 2014
The last full week in December, live fed steers averaged $130.03/cwt. Choice wholesale beef cutout value was $198.22/cwt. Choice beef advanced to $240.05 on Jan. 22, up 21% over that stretch. The bulk of this week's cash fed cattle traded around $150, up about 15%.
Everybody expected cattle complex prices to march record high sometime in 2014. A period of extended cattle production losses, consecutive years of drought and stratospherically high prices for 2012 crops trimmed the U.S. cattle herd to the lowest level in more than 50 years. But few expected cattle complex prices to zoom this high this early in the year.
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