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Meat Market Update | Rib primal continues climb

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 $215.66, which was $3.70 higher compared to previous Friday. It still continues well over last year; on the same day last year it was $202.71. The daily Choice loin primal was $8 higher by Friday, but the rib primal was $16 higher than the previous Friday and that is now five weeks in a row of increases for the rib. This is a normal fall rally that is driven primarily by the great demand for ribeye roasts that are cooked during the upcoming holiday season, along with greater use of chuck and round roast products for family cooking during the colder weather.

The weekly average Choice cutout which includes all types of sales, including the daily Choice cutout, was $210.72 which was $0.60 lower and followed the previous week’s daily Choice cutout that was $.62 cents lower. This week’s daily Choice cutout’s increase will no doubt push the weekly average higher next week, which will should follow the trend where it usually jumps higher soon.    

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