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Boxed Beef Report: Beef prices see a fall

Boxed beef is seeing a decline across the board on Friday. Choice boxed beef prices are down 53 cents on Friday, leaving the price at $250.43. Similarly, select boxed beef hit $246.62 on Friday from $247.26 on Thursday, a 64 cent decline. This left the 27-day average price at $244.65.

Markets

Ag markets were decidedly mixed at midsession Friday

Corn traders may be squaring positions before the weekend. After exhibiting considerable strength over the previous week, corn futures declined Thursday and have continued sliding today. There’s little fresh news, and the financial markets have essentially stalled. Thus, we suspect today’s corn slippage is the result of traders and funds squaring positions before the weekend and next Tuesday’s important USDA reports. May corn futures slipped 1.5 cents to $3.8975/bushel late Friday morning, while December lost 1.25 to $4.135.

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