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Meat Market Update | Cutout takes hit despite grilling season

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

The daily spot Choice box beef cutout ended the week at $227.36, which was $5.63 lower compared to previous Friday. It was just $1 lower than the same day last year. It then continued to drop another $3.5 lower by Tuesday, May 7. The daily Choice rib primal was $13 lower by Friday and the loin primal was $6 lower, both taking a big hit. This is similar to a decline last April, however, normally there is a very strong grilling rally during the Memorial Day sales period. This year many Choice rib and loin products were already sold to the retailers through the out-front type sales, so that might moderate prices just a little.

 

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