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Meat Market Update | Exports post biggest 4-week number in decade

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

The run in the export markets continue this week as exports as reported on the box beef report were big again, with 1,008 loads. That was 127 loads lower compared to the previous week. However, it is still over 1,000 loads for four weeks in a row and has totaled over 4,800 loads which is the biggest four-week number in over 10 years. It's just barely beats the 2018’s big late-summer jump when prices were much lower. Exports are starting this year out very high, no doubt being pushed higher by the lower prices lately because we are operating in a global market.

The daily spot Choice box beef cutout ended the week on Friday at $210.12, which was $2.88 lower compared to previous Friday. It is still below last year, when the same Friday it was $215.35, about $1 higher that week last year.  However this week it continued to drop lower and was $207.83 on Tuesday, Feb. 11, but this is a normal seasonal trend. Last year was the only year that was almost level, after dropping just a little bit lower earlier. In those years that it dropped much lower it really climbed higher quickly after for the grilling season.

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