The Choice-Select spread has widened sharply in recent weeks, which is the typical seasonal tendency at this time of year. The latest boxed beef values increase the Choice-Select spread to $12.15/cwt., about double the $6.03 spread this time last year. The spread is also above the five year average level of $10.13/cwt. (for this time of year), which represent the first time the spread has exceeded the five year average weekly level since the first week of January. Thus, the Choice-Select spread has gone from a seasonal low in late March of $0.30/cwt. (well below the average seasonal low) to current levels above the average level for this time of year.
What do the increase in both Choice and Select boxed beef values from year ago levels and the widening of the Choice-Select spread in recent weeks tell us about beef market conditions and, in particular, about beef demand? Total beef production is down 2.8 percent so far this year so higher prices would be expected with steady beef demand. Thus, higher boxed beef prices do not necessarily reflect increased beef demand, though they do suggest that demand is holding steady in the face of reduced supplies and higher prices. However, the increase in Choice relative to Select prices does suggest stronger demand for high quality beef. This is borne out in the changing values of various wholesale cuts. At the current time, Choice wholesale values for Ribeye and Tenderloins are up 27 and 24 percent year over year while Chucks and Rounds are up 13 and 6 percent compared to last year.
The increase in wholesale beef prices from year ago levels could be due mostly to reduced beef production so far this year. However, the sharper increase in middle meat values relative to end meat values and the wider Choice-Select spread suggest that beef demand is improving. Wholesale values are expected to increase further with sharper year over year beef production decreases in the third quarter. Continued improvement in beef demand will determine how much higher wholesale beef prices may go.
Source: Derrell S. Peel, Oklahoma State University Extension Livestock Marketing Specialist
It's a Hungry Game for Jennifer Lawrence... as she goes shopping for groceries - Daily Mail
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Jennifer Lawrence was the image of bohemian chic as she headed to the supermarket yesterday to stock up on groceries.
The Hunger Games actress donned a floaty patterned skirt for her outing to Whole Foods in Los Angeles to stock up on food.
A lettuce could be seen peeping out from the top of her bag as she left the store, before continuing her shopping trip at high-end homeware shop Williams-Sonoma.
Feeling hungry: Jennifer Lawrence was spotted leaving Whole Foods in Los Angeles yesterday
Jennifer, 21, completed her hippy-esque look with a grey T-shift and green jacket, teamed with a white crochet bag.
Not very filling: A lettuce could be seen peeping out the top of her bag
The actress has recently returned from London with boyfriend Nicholas Holt.
While there the pair enjoyed the Queen's Jubilee celebrations, including watching the procession down the River Thames.
She recently finished work on comedy film Silver Linings Playbook, in which she co-stars with Robert De Niro, Bradley Cooper, and Julia Stiles.
Jennifer and boyfriend Nicholas, who met on the set of X Men: First Class in 2010, went public with their relationship last year.
Bohemian chic: The 21-year-old actress donned a floaty patterned dress, teamed with a grey T-shirt, green jacket and a crochet bag
Getting in the goods: After her grocery trip she headed to high-end homeware store Williams-Sonoma
Lawrence with Brit boyfriend Nicholas Holt in London earlier this month
While the couple have been tight-lipped on the subject of their relationship, Jennifer did hint at what may have attracted her to the actor during an interview earlier this year.
She told UK Glamour magazine: 'British men have these wonderful manners, and everything they say is funnier just because of the accent.
'There’s this cute "I'm trying to be adorable because I know you’re mad at me" accent, and then the drunk accent where all the consonants have vanished.
Having spent a lot of time in the UK since she started dating Hoult, Lawrence has also developed a fondness for the country's fashion.
She explained: 'I love the relaxed way British girls dress. I think I dress like one.
'I like Topshop, Portobello Road and Selfridges - although I always get Selfridges and Waitrose mixed up, which has led to a few disappointing shopping trips.'
Rising star: Lawrence seen in character as Katniss Everdeen in her blockbuster hit, The Hunger Games
I clicked on this article to read more about the lettuce...
- calla, fl, us, 12/6/2012 02:03
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