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Meat Market Update | Cutout slowly comes back to reality

It seems we might have seen the high last week in the boxed beef Choice cutout as prices slowly dropped lower this week after a $45 jump the previous week.

The daily spot Choice box beef cutout ended the week on Friday, March 27 at $252.84, which was $0.91 lower compared to previous Friday. However, remember the cutout jumped over $45 dollars higher the previous week. Unfortunately, the daily Choice cutout continued to drop throughout the week and was $243.15 on Tuesday, March 3; starting to erase part of that big increase which most people thought would eventually happen.

The weekly average Choice cutout which includes all types of sales including the daily Choice cutout was $242.17, which was $11.90 higher even though the daily cutout was lower. Last year, it was $227.61. It jumped higher this week because some, but not all, of the formula sales are based off of the previous week’s daily spot sales which were much higher priced. 

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