The daily spot Choice box beef cutout ended the week last Friday at $214.73 which was $2.56 higher compared to previous Friday. It then continued to climb higher on Tuesday, August 6th to $215.78. The same day last year on Friday it was $204.75 so it continues higher year over year but it is also much higher than any of the previous three years. This week, the daily Choice rib primal was over $7 higher and the loin primal was about $5 higher, both were over $20 higher than last year. These primals continues to push the cutout higher, as well as the Choice-Select spread, compared to last year.
The weekly average Choice cutout which includes all types of sales including the daily Choice cutout was $210.54 which was $0.88 lower and no doubt impacted some by the formula prices that were based off of the previous week’s lower daily spot prices.