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Beef, Veal, Lamb |
Weekly Beef Commentary
Boxed beef cutout values were lower on light to moderate demand and moderate to heavy offerings. The inability of packers to sell very much product on the spot market the last few weeks began to have a significant effect on pricing this session. The fact that harvest rates were slower this week despite cheaper cattle made the reality of building packer inventories all the more apparent. Price declines were consistent throughout the carcass but were somewhat surprising for the rib complex. Forward business was noteworthy for Select export ribs priced above current levels, along with ground chuck trading consistent to the spot market. Beef trimmings were generally steady through midweek; however Thursday saw a decidedly lower market develop. Fed cattle grinds were lower on light to moderate demand and moderate offerings, while blended grinds were generally steady on light to moderate demand and offerings.
The Beef Report for November 5, 2010
Note: The pricing below is USDA commodity and/or wholesale pricing. It should be used as a guide to monitor market conditions and is not in any way comparable to distributor invoice pricing.