A critical component of any food industry business relates to sales and sales information. Throughout the past two months, live cattle prices have been at their highest levels in over three years. Experts are predicting further market increases which could influence the boxed beef cuts prices to higher levels in 2000 than in 1999. Tenderloin prices remain depressed due to strong supplies. However, this trend is anticipated to be short lived.
Production is still strong, and buying interest is light.
These combined factors should direct the market lower next week. The cheese market undertone is weak as prices continue to decrease. No significant price increases are anticipated in any of the dairy markets for the next month. The rice market is steady, although export sales are strong. Forecasters are still predicting attractive price levels in all three markets for 2000.