Meat Market Update with Ed Czerwien

Meat Market Update | Valentine's Day means ribeyes, and higher out-front 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.

Meat markets saw a second big week of out-front steak sales aimed at Valentine’s Day that included over 2 million lbs of bone in ribeyes. The average price on those ribeyes was $18 per cwt higher than the current average formula price for the same product. There were also decent loin strips and tenderloins sales again this week but not extremely large volume like last week. These out-front sales that were higher priced, helped to push the weekly average primal rib and loin price higher. There were over 3,000 loads of out-front sales during the last two weeks that can be delivered just prior to Valentine’s Day sales. This is a normal seasonal event.

TAGS: Marketing
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