Choice boxed beef prices dropped from $242.42 on Monday to $241.78 on Tuesday. The 64-cent fall brought the 27-day average price to $240.18. Select boxed beef fell 23 cents to $232.32, bringing the 27-day average price to $232.42.
Choice primal rib saw the largest fall on Tuesday of $3.52 to hit $343.21, bringing the 27-day average price to $337.15. Choice primal loin also fell from $336.53 on Monday to $334.79 on Tuesday, a $1.74 fall. The largest increase was choice primal short plate with a 99-cent jump to $149.66.
By Tim Petry, Livestock Economist, North Dakota State University Extension Service
In summary, the best overall pasture and range conditions in many years in states east of the Continental Divide and record calf prices spurred continued interest in beef cow herd rebuilding. Most U.S. cattle inventory categories saw year over year increases.
With support from the Iowa Corn Promotion Board, the U.S. Meat Export Federation (USMEF) recently conducted U.S. beef retail promotions in two major metropolitan areas in the United Arab Emirates (UAE).
Retail diesel prices continued to fall this week, seeing an average decrease in the US of five cents to hit $2.51. The 27-week average is now at $2.80.
The New England region saw the largest fall of seven cents to $2.67, bringing the 27-week average price to $3.05. Despite the large fall, the region does not have the lowest diesel prices-- the Gulf Coast currently holds that position at $2.38. The Rocky Mountain region saw the smallest drop of only three cents.
Live cattle prices dropped over the weekend from $146.53 on Friday to $143.20 on Monday, a $3.33 fall that brought the 27-day average price to $146.45. Feeder cattle also dropped 57 cents to $201.83. The 27-day average price now rests at $211.44.
Lean hog prices saw an increase over the weekend from $66.43 on Friday to $68.03 on Monday. The $1.60 increase brought the 27-day average price to $73.02.
Corn prices increased one cent over the weekend, while wheat jumped six cents to hit $4.83.
Choice boxed beef prices dropped over the weekend from $243.63 on Friday to $242.42 on Monday. The $1.21 fall brought the 27-day average price to $239.78. Select boxed beef also saw a 28-cent drop to hit $232.55, bringing the 27-day average price to $232.28.
Choice primal rib fell the most over the weekend from $350.76 to $346.74, a $4.03 fall that brought the 27-day average price to $336,23. Choice primal loin also fell $2.80. Chioce primal chuck and choice primal brisket were the only two cuts to not fall, jumping $1.67 and 56 cents, respectively.
By Aaron Berger, University of Nebraska Lincoln Extension
With the moisture in Nebraska this year, it looks like there will also be an abundance of forage for this fall and winter. Now is a good time to evaluate and price compare supplements to complement this forage.
Crude oil prices have once again been making headlines, dipping into the upper $30s and lower $40s per barrel. In an article last week (farmdoc daily, August 19, 2015), it was shown that real (inflation-adjusted) prices of crude of oil and gasoline have fallen back to levels prevailing more than a decade ago.