Livestock Marketing Information Center

Current Situation and Analysis
Last Updated: 5/22/2015
RECORD HIGH BEEF LOIN PRICES

    According to USDA-AMS national weekly boxed beef cuts report, since the first of the year wholesale Choice loin strip prices have increased by just over $3.15 per pound, to sit at $9.38 per pound. This was a new weekly record high for the wholesale cut. Seasonally, it is normal to see an increase in the price of middle meats starting in the spring and peaking around beginning of July, as demand increases during grilling season and over holidays such as Memorial Day and Fourth of July. Middle meats are mostly high value cuts like steak and Prime Rib from the mid-carcass area.


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STATE LINKAGES TO AGRICULTURAL EXPORT MARKETS

    USDA’s Economic Research Service (ERS) publishes annual calculations that indicate the general reliance of individual state agricultural sectors on export markets. Those calculations are based on U.S. farm sector cash-receipts data, since a State’s actual agricultural export value cannot be measured. Further, U.S. agricultural commodity exports are often produced in inland States and may transfer through several processing stages and marketing points before even arriving at a port.


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US ECONOMY: IMPRESSIVE FOOD SECTOR SALES GAINS CONTINUE

    In April, data from the U.S. Department of Commerce showed combined retail sales from foodservice, restaurants, and grocery stores were 4.8% above a year earlier. That was similar to the 5.0% increase posted in March. The April increase is more impressive when compared to two years ago (2013), sales on that basis were up 10.0%. The majority of the April gain came from the foodservice and restaurant category, which was up 8.6% from a year earlier. In contrast, grocery store sales only gained 1.0% year-over-year, which was the smallest increase since March 2014.


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