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.

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

f

December 2014

The December issue of NP features a cover story on the GNP Company, an article on animal welfare, the 2015 economic outlook, and so much more!

 

Table Of Contents Subscribe

Independent Processor

f

December 2014

The December issue of IP features cover story: A full Haus, Mike Sloan’s award-winning bratwursts draw visitors to the Hermann Wurst Haus by the thousands.

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

Sourcebook

A complete reference guide to supplies. Go to NP's Sourcebook now to check out the latest and greatest in the meat and poultry processing business.

STAY CONNECTED

Facebook icon Twitter icon  YouTube iconLinkedIn icon google +

Vertical Sector Focus: Critical Infrastructures

criticalhomepagethumbFrom terrorism to vandalism, it’s preparedness, response, training and partnerships. Learn about some of the critical security issues facing this sector.

Visit the Critical Infrastructure page to read more.