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Meat Market Update | Loads sold lower over holiday week

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 Thursday, July 2 because on Friday the USDA offices were shut down. Prices ended at $205.44, which was only $1.73 lower compared to the previous Friday. It then firmed up just a little on the following Monday before dropping slightly lower on Tuesday and Wednesday. This same week last year it was $217.67. The weekly total for the daily cutout was 673 loads which was about 11% of the weekly total loads sold. 

The weekly average Choice cutout, which includes all types of sales including the daily Choice cutout, was $205.15, which was only $3.87 lower week over week. It is now a little lower than last year and very close to 2018.               

There were 5,903 total loads sold during the shortened holiday week, which was 1,322 loads lower than the previous week, which pushed the 4-week moving average graph just a little lower, but still higher than previous years. 

TAGS: Marketing
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