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Meat Market Update | Great rib rally leads the way

Video-Meat Market Update | Great rib rally leads the way

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 last Friday at $225.44, which was $7.40 higher compared to previous Friday and continued to climb to $230.55 by Tuesday, October 29. It still continues well over last year, when the same Friday last year it was $213.47, which was $5 higher that week. 

The daily Choice loin primal was $13 higher by Friday. The rib primal was $9 higher than the previous Friday and then climbed another $14 by Tuesday, October 29. The rib is now $67 higher since mid-September which is definitely pushing the cutout higher. This great rib rally is because of the upcoming holiday parties when Choice ribeyes are used as prime rib roast. The daily Choice cutout is much higher than previous years already and the march higher is happening earlier.

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