![]() Ribeyes, traditionally, tend to peak late in the year as a holiday item and have been increasing over the last several weeks. ![]() Last week ribeyes averaged $9.40 per pound compared to $14.51 per pound the same week last year. Wholesale ribeye prices have been below last year’s prices since the end of January. The wholesale price data tends to support that idea. With consumers facing higher costs and budget pressures we might expect them to buy fewer steaks and more ground beef. The end meats are the chuck and round and are, generally, lower valued. ![]() We can think of the middle meats of a beef carcass as the expensive, high value cuts – the steaks from the loin and the rib. Digging a little deeper into individual cut prices paints a pretty interesting picture of beef prices this year and provides some price evidence of changing consumers. The cutout is below last year across all USDA quality grades. The boxed beef cutout is the value of the primal cuts making up a carcass. Today we are looking beyond the farmgate to examine wholesale beef prices (we’ll look at pork, poultry, and dairy products in future SATs). On livestock market Tuesdays, the authors normally highlight events in livestock markets. Wholesale Beef Prices Tuesday, September 13, 2022
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