June heats up … not just the weather

Summer temperatures are not the only thing heating up as we move into June. Beef and cattle markets are rising in recent weeks as well. Tighter supplies of beef and cattle are dominating market fundamentals and will continue to do so. Choice boxed beef prices finished last week at $309.93/cwt., up $6/cwt. from the Friday before Memorial Day. Boxed beef prices had previously peaked in late April, but decreased through May with holiday buying completed. The increase in Choice boxed beef prices into June suggests that post-Memorial Day beef demand remains strong.