Agricultural News
Weekly Boxed Beef Trades Post Gains for Last Week
Mon, 22 Apr 2013 16:27:49 CDT
The daily spot Choice boxed beef cutout ended last week at $190.10 which was about 60 cents higher on 925 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 $191.34, which was $1.08 cents lower than last week but we saw the largest volume week that we had seen since Sept of last year.
The total reported boxed beef volume was 7,693 loads which was 1,143 loads more than last week, but it was still just a little larger than last year's average week. The formula trade was 3,197 loads for the week which was 158 loads more than last week and about 42 percent of the total sales.
The out-front sales were at 1,502 loads which was up 448 loads, and finally in line with a normal April, which is the peak booking period for the Memorial Day holiday. The average for the month of April is still below previous years but at a marked improvement.
Exports reported 1,212 loads which was 377 loads higher than the previous week. The NAFTA exports represented 369 of those loads (which is more than double last week), and 843 loads were shipped overseas.
The most recent ten-week rolling boxed beef sales average was 6,649 loads per week which compares to 7,307 loads per week last year at this same time and was 658 loads less than last year average. To put that in perspective, that's like not selling the product from roughly 39,000 head of steers and heifers each week for 10 weeks in a row compared to last year. Remember however that we cut our kills roughly 12,000 head of finished cattle per week since the first of the year.
The Primal cut trade portion of the spot trade was very mixed and uneven. The outside primal cuts (rounds and chucks) were 2-4 higher on chucks and 1-3 lower on rounds. The middle meats (ribs and loins) were steady to 6 higher on loins while ribs were one higher on Choice and eight lower on Select product.
The cow cutout ended the week about 4 lower after wide swings during the week. Ninety-percent trim lost about $7.00. Dairy cow culling has been very large in some areas.
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