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Meat Market Update | Steaks continue to lead the way

Steaks for Valentine's Day? While that's always a good choice, it is the steaks being booked ahead for spring weather and grilling season that is currently pulling the cutout higher.

Steaks continued to move the cutout higher as almost 1.5 million lbs of Choice rib and loin out-front sales were sold this last week. This was quite a bit higher than current formula prices for the same products.  This has been the third week of seeing these steak-type products at higher prices after much of the out-front sales had been lower priced for months. These big out-front Choice rib and loin price increases were helped by retailers starting to book product ahead of grilling season rally which is a normal seasonal event now.  In fact, the weekly average for the Choice rib primal was $9 per cwt higher than last week, and quite a bit higher than the previous years.

TAGS: Marketing
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