Through much of the spring season, the lower quality Select carcass share held steady with the 2021 pattern with a near record-low volume in the 12 to 15% range. However, as the
summer fed cattle supply has been ultra-current, particularly in the north, sub-optimal ribeye marbling measurements allowed the Select category to drift higher than 16%. This is larger than summer values in the past two years. This supply data goes against what beef customers increasingly desire and are willing to pay for premium middle meats. To offset this drop, end users have started to suspend higher-quality beef with deep chill storage process known as "suspended fresh". This ability to hold beef for months near its freezing point, but still in a fresh state, has elevated buying and storage of premium middle meats before prices soar from fourth quarter demand.
What we don’t know is the magnitude of volume that this is happening. This activity has elevated middle meat prices, particularly ribeyes, midway through the third quarter in recent years.
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