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Meat Market Update | Cutout climbs higher

Ed Czerwien, market analyst based in Amarillo, Texas, offers a concise summary of last week's beef cutout trade.

The daily spot Choice box beef cutout ended the week on Friday, April 10 at $223.93 which was $6.51 lower compared to the previous Friday. It did improve some on Thursday and Friday, so it was lower early in the week. It's important to remember that just 4 weeks ago it was $206-208 for several weeks; even with a $6 drop it is still much higher than what we were working with pre-COVID-19.  However, it continued to climb higher for four days in a row and was $226.67 on April 14 and is now getting close to last year. This week in 2019 it was $228.75.

The weekly average Choice cutout, which includes all types of sales, including the daily Choice cutout was $219.87, which was $17.31 lower following last week’s very big daily cutout price drop that impacted the current formula prices.  

The exports as reported on the Box Beef report were very good again with 1129 loads. That was 140 loads higher compared to the previous week. These exports continue to be higher than recent years.

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