In this time of continued uncertainty, one thing seems to be constant -- the cutout's march higher. The daily spot Choice box beef cutout ended the week on Friday, May 1 at $377.45 which was $84.08 higher compared to previous Friday. But the fun wasn't over there, the daily Choice cutout continued to climb higher and was $428.82 on Tuesday, May 5th, so another all-time high record set. If you remember, last week it ended $54 higher week over week as panic buying continued in grocery stores. For some perspective, last year, the cutout was $227.36, which was about $5 lower last year.
The weekly average Choice cutout, which includes all types of sales including the daily Choice cutout, was $309.38 which was $56.68 higher. This follows the daily cutout, just at a little slower pace which is always normal.
There were 4,440 total loads sold for the week which was 115 loads lower than the previous week. This pushed the 4-week moving average graph much lower than ever recorded with many plants shut down or with much lower volume.