Weekly Market Reports
Beef Report for the week of December 19, 2008
Beef production last week declined 1.9% and was 6.6% less than a year ago. The holiday beef cut markets including ribeyes and tenderloins are moving sharply downward now that demand has slowed. History suggests that another $.50 to $1.00 a pound of declines can be anticipated for the ribeye and tenderloin markets over the next few weeks. Beef feature focus should now switch to end cut products which could influence the applicable markets modestly higher. November retail beef prices were the lowest since July.
