Grilling Season Rally Progressing Higher than Normal
This year’s grilling season rally is higher than normal, fueled by vaccine availability, stimulus checks and the opening of ballparks. According to cattle market analyst Ed Czerwien the daily spot Choice box beef cutout ended April 9th, at $272.17, which was $19.32 higher compared to a week earlier.
Last year it was $223.93 on the same Friday, which was $6.51 lower, after jumping higher during the panic retail buying amid the coronavirus pandemic last year. However, last year then skyrocketed much higher during the packing plant shutdowns, topping out at $475.00 in early May. Two weeks ago, sales totaled 6,865 loads sold for the week, 153 loads higher than the previous week. Exports were reported at 956 loads which was good, but 116 loads lower compared to the previous week and about 800 lower than two weeks earlier, which is normal when prices skyrocket higher.
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