Steak meats from the Choice rib and loin, which pushed the cutout higher during the last month ahead of the big grilling holiday, are really starting to fall in price. The Daily Choice loin prices are leading the plunge downward.
The feeder cattle market was $2-$6 lower and instances of up to $10 lower. Buyers have reduced their bids in response to declining finished cattle prices, negative feedlot margins and closeouts along with declining CME prices....More
“The trend on the wholesale beef side is very similar to what’s occurring in the live cattle market,” says Nevil Speer, BEEF industry analyst. “That is, weekly negotiated sales continue to decline over time."...More