Agricultural News
Holy Cow- Boxed Beef Prices Jump Well Past Three Hundred Dollars a Hundred as Retail Beef Supplies Go AWOL
Mon, 27 Apr 2020 15:30:56 CDT
The USDA Wholesale Boxed Beef Trade jumped through the three hundred dollar level on Monday, finishing Monday afternoon at yet another recrod level- $311.84, up $18.47 from Friday. Select beef is priced at $298.78, up $19.76.
According to Cassie Fish with the BeefRead, the march higher on wholesale prices have been sudden with "USDA estimated cutout value, the choice gaining a record $54 last week and select $52. Today saw an additional $14 on choice and $15 on select(midday). The middle meats gained on the end cuts though prices for the ends reached all-time highs as did the cutout itself. Shortages are being seen at retail level and that issue will prevail for a few if not several more weeks.
"The loss of consumer consumption during peak beef demand of May is a true tragedy as consumers will not eat twice as much later. The inability of beef to reach consumers when they want it and when parts of the U.S. are beginning to slowly reopen is a great loss."
Click here for the complete Monday afternoon Boxed Beef Trade report from USDA Market News.
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