Choice boxed beef prices increased $1.07 on Tuesday to hit $233.20. The jump brought the 27-day average price to $242.87. Select boxed beef prices saw a 47-cent rise from $228.97 on Monday to $229.44, bringing the 27-day average price to $239.20.
Choice primal chuck saw the largest increase on Tuesday of $3.84 to hit $195.13. Chioce primal rib was not far behind with a $1.93 increase. Choice primal loin did not fare as well, dropping $2.09 to hit $305.77.
By Derrell Peel, Oklahoma State University Extension
The July Cattle report confirms that U.S. cattle herd inventories are growing. The inventory of all cattle and calves on July 1 was 98.4 million head, up 2.2 percent from last year. The 2015 calf crop is estimated at 34.3 million head, up 1.2 percent from last year. Beef cow numbers were estimated to be up 2.5 percent at 30.5 million head.
Live cattle prices increased over the weekend, jumping 32 cents from $143.03 to $143.35. The increase brought the 27-day average price to $148.22. Feeder cattle prices did not fare so well, dropping 93 cents to $208.75, bringing the 27-day average price to $216.03.
Lean hog prices dropped 15 cents over the weekend to $77.53. The 27-day average price now rests at $76.97.
Corn prices dropped 20 cents from Friday to Monday to $3.73. Wheat prices saw no change.