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Meat Market Update | Box beef remains sluggish

Ed Czerwien, market analyst based in Amarillo, Texas, offers a concise summary of last week's beef cutout trade.

The daily spot Choice box beef cutout ended the week on Friday at $205.30, which was $0.21 higher compared to the previous Friday. It had been over $207 early in the week and then reclimbed to $206.62 on Tuesday, March 3. It is still well below last year it was $221.29, which was almost $2 higher that week last year. Usually this is the time of the year when it starts to climb higher after a seasonal decline. 

The weekly average Choice cutout, which includes all types of sales including the daily Choice cutout, was $207.41 which was $2.77 lower. It is still higher than the daily Choice cutout. The previous week’s $3 drop in the daily Choice cutout no doubt lowered formula prices this week because many but not all formula prices are based off of the previous week’s daily spot prices. That pushed the weekly average Choice cutout lower.  

There were 7,243 total loads sold for the week, which was 355 loads higher than the previous week. The four-week moving average graph jumped much higher than all previous years, so there is great volume of sales this year.

 

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