May is upon us, and with it comes the weather uncertainty that is typical of the month, but also the assurance that summer is coming. The Memorial Day holiday at the end of the month will kick of the summer grilling season. Lots of attention is being focused on beef demand as the tightening of beef supplies will increase the pressure for higher wholesale and retail beef prices. How high can they go and how fast?
In the first full week of May, Choice boxed beef prices averaged $309.41/cwt., up over 9% from the beginning of the year and 20% higher year over year. The boxed beef…
