Prime and Choice beef dominating production
Last week, we highlighted the importance of the recent spike in the Choice / Select spread. The focus included implications of a concurrent price surge for middle meats (rib and loin) versus the end meats (chuck and round). That is, the rib and loin now account for over 52% of the overall cutout value – a jump of nearly 10% since the start of the year. In combination, it appears that consumers are opting for the top end of the market – in terms of both selected cuts and quality grade.