Agricultural News
Boxed Beef Slides in Last Week's Trading
Mon, 15 Apr 2013 17:16:56 CDT
Ed Czerwien, USDA Market News, Amarillo, Texas, files this report for boxed beef trade ending April 13, 2013:
The daily spot Choice box beef cutout ended the week at $189.52 which was about $1.80 lower on 838 loads of the daily spot beef reported, which represents about 12 percent of the total trade for the week.
The Comprehensive Choice cutout, which is the weekly average of all types of sales (including the spot trade, formula trade, and out-front trade, etc,) was at $192.42, which was 85 cents higher than last week and regained almost exactly what it lost the previous week.
The total reported Box Beef volume was 6,550 loads which was 59 loads more than last week. The formula trade was 3,039 loads for the week which was 281 loads lower than last week and 46 % of the total sales.
The out-front sales were at 1,054 loads which was up 129 loads, however last year we averaged about 1,350 loads per week during April, which is the peak booking period for the Memorial Day holiday.
Exports reported 835 loads which was 119 loads lower than the previous week. The NAFTA exports represented only 159 of those loads, and 676 loads were shipped overseas.
The most recent ten-week rolling box beef sales average was 6,570 loads per week which compares to 7,351 loads per week last year at this same time and was 781 loads less than last year average. To put that in perspective, that's like not selling the product from roughly 47,000 head of steers and heifers each week for ten weeks in a row compared to last year. However we cut the kills about 12,000 head of steers and heifers each week since the first of the year compared to last year, but they are heavier.
The primal cut trade portion of the spot trade was mostly lower. The outside primal cuts (rounds and chucks) were 1-2 lower. The middle meats (ribs and loins) were mostly 5-7 lower except Choice loins which were 2 higher.
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