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Meat Market Update | Loads sold skyrocket as restaturants lock in product prices

Ed Czerwien, market analyst based in Amarillo, Texas, offers a concise summary of how last week's beef trade impacted the cattle market and beef prices.

The weekly average Choice cutout saw another big drop of $5.05, but sales volume increased tremendously with 7,836 loads sold which was the highest level in many years. It was pushed higher by the longer term forward contracts which had over 1,000 loads and are quite often utilized by large restaurant companies to lock in product prices for their menu. There was only one time that these forward contracts were higher than this week since 2012 which was a big spike in early 2015.

TAGS: Marketing
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