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.
The U.S. Department of Agriculture’s (USDA) Risk Management Agency (RMA) is expanding crop insurance coverage for ranchers to help them protect against loss of forage produced for feeding livestock. The Rainfall Index Pasture, Rangeland, Forage pilot program (PRF) will now be available in all 48 contiguous states beginning with the 2016 crop year. Livestock producers have until Nov. 15, 2015, to sign up for coverage.
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).
With high beef prices come high expectations for a quality eating experience. In today’s market, it’s increasingly important for consumers to relate the Angus breed and Certified Angus Beef® (CAB®) brand with a superior tasting product.
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.