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Wednesday, February 13, 2008

Prime Market Follow Up

In my recent post Prime Market Deal , the moves in the market prices for prime beef tenderloin were highlighted. We now have a new update.

The recent market update available at Foodservice.COM shows the market anomaly of the week ended 2/1/2008 reversed course in the following week. A 10.8% gain in the price for prime beef tenderloin wiped out most of the short term opportunity. It is possible to now place the 2/1/2008 market opportunity in better perspective.

Prime beef tenderloin market priced below $11 per pound is a bargain when put in the context of recent market activity. As I compose this post, oil prices are falling close to the $90 level. Since the grains market is linked to oil now due to the increased ethanol production, further volatility is likely.

It appears these short term weaknesses in prime beef prices represent a clear buying opportunity. Now is a good time to check your delivered price per pound and put it in relationship with the market.

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