Boneless beef inventories were estimated at 413.1 million pounds, up 1 percent from May, but 5 percent less than a year ago. Boneless beef includes all boxed boneless beef, such as ground beef, roasts, steaks, loins, strips, rounds and trimmings, but excludes variety meats.
Frozen beef cuts were estimated at 38.2 million pounds, up 5 percent from May and 2 percent more than June 2015. Beef cuts include all boxed primal beef cuts, bone-in.
Farm-to-retail spread widened in June
USDA tracks average beef prices at the farm, wholesale and retail stages of the production and marketing chain, reporting monthly average price spreads and the producers’ share of the retail price.
June 2016 beef price spreads and the producers’ share of the retail beef dollar follow:
- Farm to wholesale price spread: 67 cents, up from 47 cents in May
- Wholesale to retail price spread: $2.84, up from $2.76 in May
- Farmers share: 43.4 percent, down from 46.8 percent in May
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Dave Natzke
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