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Beef, Veal, Lamb |
Weekly Beef Commentary
Boxed beef cutout values were steady to weak this session on light to moderate demand and offerings. The biggest story this week was the huge snowstorm across much of the nation. Although weather reduced the harvest pace significantly, pricing did not respond accordingly as the typical softening of demand in early February more than offset the decrease in production. The lone exception to this was the rib complex, which trended firm coming out of its seasonal low. Forward business was unusually quiet this week with no significant bookings of the major cut items. Beef trimmings were generally steady on light to moderate demand and offerings. Fed cattle and blended coarse grinds were steady to weak on lower lean percentage product, while steady to firm on high percentage lean. The scarcity of lean trimmings available to blending formulations continues to be a limiting factor in the price of 50 trim despite the lower slaughter rate. For the week: Select and Choice rib primal 2.00 to 6.00 higher; Select and Choice chuck primal 1.00 lower; Select and Choice round primal steady to 2.50 lower; Select and Choice loin primal generally steady; Beef trimmings 1.00 lower; Overall Fed cattle and blended grinds generally steady.
The Beef Report for February 4, 2011
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.