Meat Market Update | Has the Christmas rally peaked?

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

The daily spot Choice box beef cutout ended the week at $240.80 which was $1.68 higher compared to previous Friday, but had topped out over $242 on Wednesday and then started to decline. It still continues well over last year when it was $212.91, which was $2 lower that week. When lookint back historically, it appears like the peak might be very close now, because it slipped just a little lower by Tuesday, Nov 19 to $239.01. This fall rally was much higher than previous years and has started to drop just a little later than the previous years. It will eventually pull the weekly average Choice cutout lower, too.

 

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