The weekly average Choice cutout, which includes all types of sales, including the daily Choice cutout, was $212.11, $1.56 higher and rebounding above last year.
The out-front sales were 1,215 loads. This is compared to only 543 loads sold for the week in the daily box beef cutout.
The big news this week was that the largest out-front sales included 1.7 million lbs. of Choice round products that were very close to steady compared to the same average formula prices. Additionally, 1.4 million lbs. of Choice loin products that were $23-52 dollars per cwt higher than the same formula prices. These big out-front sales are no doubt helping the weekly average Choice cutout go higher after many weeks of downward pressure.
Ed Czerwien is a market analyst in Amarillo, Texas. From the heart of Cattle Feeding Country, Ed follows the cattle and wholesale markets to keep beef producers up-to-date on the market moves that affect them. He previously worked with USDA as a Market News reporter. Ed is now semi-retired and continues to work with cattle trade analysis.