The daily spot Choice box beef cutout ended the week last Friday at $212.17, which was $1.25 lower compared to previous Friday. It then rebounded and improved early during the following week jumping up to $214 on Tuesday, July 30. Last year on the same day, it was $205.14 so we continue to be much higher than last year yet. The daily Choice rib primal was almost $3 higher during the week, but was $26 higher than last year. The loin primal was about $2 higher during the week and was about $11 higher than last year.
The fact that both of these Choice middle meat primals are higher than last year has definitely pushed the Choice-Select spread much higher. Choice-Select spread was $23.83 on Friday compared to $23.91 the previous week $6.87 last year. This increase in the spread was definitely helped by a much higher Choice rib primal this year.