Choice boxed beef prices dropped 30 cents on Tuesday to hit $260.50, bringing the 27-day average price to $260.02. Select boxed beef prices are up to $248.75. The 75 cent increase brought the 27-day average price to $248.63.
Choice primal rib prices saw a $2.63 increase to hit $386.59, the largest increase on Tuesday. Choice primal chuck saw the opposite effect, dropping $2.87 to hit $199.84.
Financial markets are undercutting commodities. Renewed concerns about European Monetary Union and the euro have surged again this week, thereby spurring big U.S. dollar gains and sending stock indexes lower.