Agricultural News
Ed Czerwien: Weekly Boxed Beef Trade Posts Gains Last Week
Tue, 30 Apr 2013 11:33:44 CDT
Ed Czerwien, USDA Market News, Amarillo, Texas, files this report for boxed beef trade ending April 27, 2013:
The daily spot Choice box beef cutout ended the week at 192.89 which was about 2.79 cents higher on 877 loads as reported in the daily Cutout, 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 192.04, which was 70 cents higher than last week.
The total reported Box Beef volume was 7,249 loads which was 444 loads less than last week, but it was about the same as last year's average week. The formula trade was 3,256 loads for the week which was 59 loads more than last week and about 45% of the total sales.
The out-front sales were at 1,399 loads which was down 103 loads, but still 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. In fact, total sales during March and April of last yr were much larger but the grilling season came earlier last year.
Exports reported 1,002 loads which was 210 loads lower than the previous week. The NAFTA exports represented only 126 of those loads and 876 loads were shipped overseas.
The most recent 10 week rolling Box Beef sales average was 6,755 loads per week which compares to 7,238 loads per week last year at this same time and was 483 loads less than last year's average. The last two weeks have been average or above which has brought us closer to last year's numbers.
The primal cut trade portion of the spot trade was better. The outside primal cuts (Rounds and Chucks) were steady to 2 higher. The middle meats (Ribs and Loins) were steady to 4 higher with most increases on ribs which had shown the steepest declines in recent weeks.
The cow cutout ended the week about 3.80 lower this week and 10 dollars lower during the month. Ninety percent trim lost about 16 dollars during the month. Large runs of beef cows in dry areas and intense dairy culling have increased numbers this past month.
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