Meat and Poultry Industry News / Beef

Choice beef prices reach new high

January 10, 2014
KEYWORDS beef / price
/ Print / Reprints /
ShareMore
/ Text Size+

The price of choice-grade U.S. beef at wholesale set a new record on Thursday as already tight supplies were further squeezed by harsh weather that reduced the number of cattle that came to market in parts of the country, analysts said. Select beef cuts on Thursday also marked a fresh record high for a fifth straight day, Reuters reports.

The day's wholesale price, or cutout, for choice beef hit $212.05 per hundredweight (cwt), eclipsing the previous May, 2013 record of $211.37, according to the U.S. Department of Agriculture.

"Tight beef supplies is the underlying principal factor," said University of Missouri livestock economist Ron Plain.

Packers hiked the price of beef it sells to grocers and restaurateurs after last week paying up to $138 per cwt for slaughter-ready cattle in the U.S. Plains - also a record high, he said.

For more information, go to http://www.reuters.com/article/2014/01/09/usa-beef-idUSL2N0KJ2GL20140109.

Source: Reuters

You must login or register in order to post a comment.

MARKET VIDEO

Multimedia

Videos

Image Galleries

Podcasts

Brenneman analyzes Butterball’s new animal care, well-being program

Rod Brenneman, CEO of Butterball, discusses his company's new Animal Care and Well-Being Program, his company's certification by the American Humane Association and further animal-handling initiatives, all officially announced in September 2013.

More Podcasts

National Provisioner

NP September 2014 cover

September 2014

Check out the September 2014 issue of The National Provisioner, featuring the 2014 Plant of the Year winner, and much more!

Table Of Contents Subscribe

Independent Processor

IP August 2014 cover

August 2014

Check out the August 2014 issue of Independent Processor, with features on meat industry lobbying, the Independent Processor of the Year, and more!

Table Of Contents Subscribe

Provisioner Store

sourcebooksmall.gif
The National Provisioner Source Book

The Sourcebook is an exclusive buyer’s guide and reference tool for product and supplier information in the meat, poultry and seafood marketplace.

More Products

STAY CONNECTED

Facebook icon Twitter icon  YouTube iconLinkedIn icon google +