The choice boxed beef cutout value has been on a strong upward trend for the several weeks, gaining nearly $28 per cwt (10.3%) in just four weeks. The cutout value hit a recent bottom the last week of March at $280.51 per cwt, and since that point, weekly values have steadily gained about 1%-3% each week.
The week of April 21st saw the value surpass the $300 per cwt mark at $306.51, which is a level that had not been reached since late September 2021. Last week, the choice boxed beef cutout value was $309.30, 14.7% or $39.72 per cwt higher than the same week last year. In fact, last week’s choice boxed beef cutout value was the highest on record for that week based on data available back to 2004.