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Meat Market Update | Choice rib primal continues to lead rally

Ed Czerwien, market analyst based in Amarillo, Texas, offers a concise summary of how last week's beef trade impacted the cattle market and beef prices.

The weekly average Choice cutout which includes all types of sales including the daily Choice cutout was $214.30. This was $2.43 higher and it was helped by the increasing prices on the formula sales that were priced off of the previous week's cash prices that were actually higher.

The weekly average Choice rib primal was $6 higher and has jumped $34 in the last three weeks, pushing it much higher than the past two years.   

The 60year comparison graph for the weekly average Choice rib primal shows just how dominant that this rally is this time of the year when prime rib is such a big part of the holiday party season. Also, this year the rally started very early and is only just a little below the top that was set in 2014, so it will be interesting to watch and see if topples 2014 numbers soon.

 

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