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Weekly Beef Commentary
Boxed beef cutout values were sharply higher again this week, reaching levels not seen since April and never seen before in August. Although sellers continued to receive up money on the majority of items, trade volume was notably less this week as buyer resistance to the price advances escalated. The growing apprehension in the financial markets also gave buyers another incentive to procure less beef. By Thursday price gains had slowed noticeably after the live cattle market trended lower this session. The biggest price advances of the week were in fed ground beef and trimmings, with both trending sharply higher on reduced offerings. The majority of cut items were also higher, though chuck and round cuts generally outperformed the middle meat complex. Forward business activity was extremely light again this session for the second consecutive week.
The Beef Report for August 19, 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.