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Beef, Veal, Lamb |
Weekly Beef Commentary
Boxed beef cutout values steady to firm on moderate to good demand and moderate to heavy offerings. In spite of a lower undertone entering this session, most cut items outperformed expectations, especially later in the week. This is mostly due to live cattle prices increasing and 4th of July purchasing taking place. This motivated packers to sell above average amounts of product, with volumes that haven’t been seen in over a month. Late in the week, trading focused on briskets, inside skirts, ground beef and beef trimmings. Forward sales, as of Thursday on the LM_XB455 report have already traded close to 600 loads, with Choice briskets being the biggest contributor to the total load count to date. Fed cattle grinds and blended grinds trended weaker this session. After last week’s volatile beef trimmings market, pricing stabilized ending the week generally steady.
The Beef Report for June 24, 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.