Boneless beef prices have set a North American record,
topping $250 per hundredweight.
It gives a boost to prices for cull cows and pasture-raised
cattle as the North American market continues to split between increased demand
for lower-cost hamburger and reduced demand for higher-cost grain-ration prime
cuts.
The reference point for boneless beef markets
is central United States where the prices on Friday hit $250.68 per
hundredweight, 16 per cent higher than a year ago and 31 per cent higher than
less than six months ago.
The sharp price increase will ripple down the
supply chain into a broad range of meat products, foodservice companies and
restaurant chains.
It will, farmers hope, also ripple backwards into higher
prices for cull cows and lower-cost pastured and forage-fed beef cattle.
