Beef prices could see support from grilling, restaurants
Benjamin Herrold, Missouri Farmer Today
via AgUpdate - Apr 7, 2021
The reopening of the economy and recovery from the impacts of the coronavirus pandemic will be key in driving beef prices in the coming months, University of Tennessee ag economist Andrew Griffith says.
The beef cutout market has started to show some momentum as spring has arrived.
“It was mentioned last week that the composite Choice boxed beef price could test the $250 mark this spring,” Griffith said in his weekly market outlook. “It is beginning to look like that may have been undershooting the market in that the daily price has nearly reached that mark. The rib and loin primal contain the cuts that will carry the cutout the next few months, and they are beginning to gain momentum.”
With warmer weather returning, some other cuts will be an important part of the overall beef market picture.
“The brisket and short plate primal are also gaining steam and could provide price support for early spring grilling,” Griffith says...