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Meat Market Update | Cutout evens with 2019 prices

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, April 3 at $230.44, which was $22.40 lower compared to the previous Friday. Last year, it was $226.93. However just three weeks ago, it was $206-208 for several weeks so still much higher than pre-COVID-19, even though it is declining. However it continued to drop lower and was $227.88 on Tuesday, April 7. It is now very close to last year when it was climbing higher for the grilling season.

The weekly average Choice cutout, which includes all types of sales, including the daily Choice cutout was $237.18. That was only $4.99 lower even though the daily cutout was $22 lower. Last year this same week, it was $225.23 so still well over 2019.

The exports as reported on the box beef report were 989 loads. That was 528 loads lower compared to the previous week but still a good number close to 1000 loads.

TAGS: Prices
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