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Agricultural News


Daily Spot Choice Boxed Beef Cut Out Sets Record High

Mon, 06 May 2013 15:02:48 CDT

Daily Spot Choice Boxed Beef Cut Out Sets Record High
Ed Czerwien, USDA Market News, Amarillo, Texas, files this report for boxed beef trade ending May 4, 2013:


The daily spot Choice boxed beef cutout ended last week setting a new all-time record high at 201.68 which was a whopping 8.79 higher, but on very light trade of only 709 loads as reported in the daily Cutout, which represents a little over 9 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 196.30, which was 4.26 higher than the previous week.


The total reported Box Beef volume was 7,246 loads which was only three loads fewer than last week, which makes three weeks in a row over 7,000 loads and similar to last year's average weeks. The formula trade was 3,489 loads for the week which was 233 loads more than last week and about 48% of the total sales.


The out-front sales were 1,488 loads which were 89 loads better than last week. Meat buyers are getting geared up for the grilling season and making sure they have product booked as the summer begins.   This represents a departure from the earlier dismal out-front sales and predominately hand-to-mouth purchasing. In fact the lack of out-front sales pushed more buyers into the spot trade which facilitated the enormous jump in the spot trade this week.   Exports reported 906 loads which was 96 loads lower than the previous week. The NAFTA exports represented only 172 of those loads and 734 loads were shipped overseas.


The most recent 10-week rolling Boxed Beef sales average was 6,818 loads per week which compares to 7,265 loads per week last year at this same time and was 447 loads less than last year average. The last three 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 much better. The outside primal cuts (Rounds and Chucks) were three to four higher. The middle meats (Ribs and Loins) were 9-21 higher with most increases on Loins.


The cow cutout ended the week about .76 lower this week after trading steady during most of the week and was 10 dollars lower during the month of April. Ninety-percent trim lost about 18 dollars since the first week of April. Large runs of beef cows in dry areas and intense dairy culling continue to increase cow harvest numbers.


   


   

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