Meat Market Update | Labor Day bump is over

Ed Czerwien, market analyst based in Amarillo, Texas, offers a concise summary of last week's beef cutout trade.

 

Ed Czerwien, BEEF Magazine

Sep 05, 2020

 

The daily spot Choice box beef cutout ended the week on Friday at $229.40 which was $3.46 higher compared to previous Friday. It haad been over 231 for two days. Last year, it was $231.77. It then dropped lower on the following Monday, August 31 and was $227.95, still just a little lower than last year. That is a normal decline right now because product has already been purchased for Labor Day grilling. The weekly total for the daily cutout was 561 loads which was about  9% of the weekly total loads sold.

 

The weekly average Choice cutout, which includes all types of sales, including the daily Choice cutout was $220.76, which was $8.96 higher, pushing the graph very close to last year as well as above the other previous years shown. It continues to follow the bigger previous week’s daily Choice cutout increases, just a little slower which is always normal.

 

document, plus video update with text, charts, tables [8:36 min.] 

https://www.beefmagazine.com/market-reports/meat-market-update-labor-day-bump-over