Higher consumer meat prices a virtual certainty
US - Wholesale beef and pork prices have been sharply higher of late. Choice beef gained $3.26 on Wednesday alone to close at its highest level since early last month. The pork carcass cutout composite value fell $.54 Wednesday to $71.68, but that's still higher than any point since September of last year."We've got this much stronger meat market due to buying for early month featuring," Robb said. "Also, overall in the bigger marketplace, we've had enough winter weather impacting especially the cattle business to cause supplies on the animal side to be rather tight."
But longer term, Robb said wholesale and retail meat prices are headed higher. And he said ethanol is at the root of the matter.
Source: Brownfield Network