Boneless beef prices hit record high

By Rita Jane Gabbett on 2/25/2014

http://www.meatingplace.com/

Last Friday, the benchmark 90CL (90 percent lean) boneless beef price, central U.S. basis, was quoted at an all-time record high of $250.68 per hundredweight, 16 percent higher than a year ago and about 31 percent higher than the market low last fall, according to the Daily Livestock Report.

The sharp appreciation in the value of lean grinding beef has significant costing implications for a wide range of U.S. end users, both on the retail and foodservice end.