Boxed beef prices have increased, with Select cutouts reaching a new high of $203.56 per hundredweight this week. The U.S. Department of Agriculture’s (USDA) National Dairy Cattle and Beef Summary showed Choice cutouts gaining $2.18 per hundredweight, averaging $207.31 per hundredweight.
Estimated at 345 million pounds, beef production last week is down compared to 417 million during the same week last year, according to Drovers CattleNetwork. This week’s report estimated week-to-date steer and heifer slaughter at 217,000 head. This is down from 252,000 during the same period last year.
Sold at record-high prices last week, finished cattle went above $137 per hundredweight. Live cattle futures for February closed at $136.52.