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Meat Market Update | Restocking post-Memorial Day shows good news for demand

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

The small drop in prices after Memorial Day basically indicated that reordering and restocking shelves were very good. This week is very important for Father’s Day because product ordered now will go to distribution warehouses then get delivered to retail stores just ahead of the Father’s Day weekend. In fact, that jumped the Choice cutout $3  on Monday June 5th and $2 on Tuesday. Another item that helped was that mid-May, out-front sales were extremely low which forced more buyers into the spot trade to purchase product for Father’s Day and that pushed the daily Choice Rib primal up to $432 on June 5, which helped set another all-time record Choice Select spread over $30.

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