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Meat Market Update | Daily Choice rib & loin primal push spread lower

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 at $208.09, which was $2.03 lower compared to previous Friday. It is still below last year, when the same Friday in 2019 it was $216.85, which was over $1 higher week over week. However it continued to drop lower again this week, and was $206.13 on Tuesday, February 18 which is not normal for this time of year. Usually this is the time when it starts to go higher after dropping lower, so hopefully it will start to climb higher very soon.

The daily Choice rib primal was about $7 lower by Friday and the daily Choice loin was $5 lower; both pushed the Choice-Select spread lower this week. The daily Choice chuck and round were steady to $1 lower.  

There were 7,071 total loads sold for the week, which was 230 loads higher than the previous week. It was again very good volume, keeping the four-week moving average graph level.

 

TAGS: Marketing
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