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Beef, Veal, Lamb |
Weekly Beef Commentary
Boxed beef cutout values were higher on light to moderate demand and offerings. Most of the cutout gains came early in the week and primarily from ground beef and trimmings price appreciation as these items continued to rebound from the LFTB disruption. While Tuesday’s announcement of a BSE positive dairy cow at a rendering plant caused live cattle futures to plummet, by contrast Tuesday’s close was the biggest gain of the week in boxed beef since the trade deadline of 1:30 CST was before USDA’s 2:00 announcement. By Wednesday most of the apprehension in the market surrounding BSE appeared to have settled, but that uncertainty did combine with typical late month reduced demand to lower the overall trade volume booked for the week. For the session both end cuts and middle meats trended firm. Beef trimmings were sharply higher, particularly for mid-May delivery. Fed cattle and blended grinds were mostly firm on lower lean percentages to higher on the relatively leaner items.
The Beef Report for April 27, 2012
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.