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.
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