Boxed Beef Volume Falls from One Week AgoMon, 24 Jun 2013 16:03:55 CDT
Ed Czerwien, USDA Market News, Amarillo, Texas, files this report for boxed beef trade ending June 21, 2013:
The daily spot Choice box beef cutout ended the week at $199.39, which almost steady. Volume was 849 loads for the weekly total of the daily spot load count, which was about 11 percent of the total boxed bf sales for the week.
The Comprehensive Choice cutout, which is the weekly average of all types of sales (including the spot trade, formula trade, export sales and out-front sales) was at $198.52, which was $3.44 lower than last week.
The total reported Boxed Beef volume was 7,309 loads which was 886 loads less than last week however last week was the largest load count in a year. The formula trade was 3,431 loads for the week which was 529 loads less than last week and about 47% of the total sales.
The out-front sales were 1,301 loads which were 324 loads less than last week. Exports reported 1,181 loads which was 207 loads less than the previous week. The NAFTA exports represented 320 of those loads and 861 loads were shipped overseas. The declining value of the dollar really helped exports out the last few weeks since the combined impact of the lower boxed beef prices and cheaper dollar made overseas buyers really perk up. However that started to change last Thursday as the value of the dollar jumped, it will be interesting to watch how that impacts exports in upcoming weeks.
Volume was lower in every respect but just remember we are comparing to the largest week of the year so far, and it could be the largest load count week of the year.
The most recent ten-week rolling Boxed Beef sales average was 7,224 loads per week which compares to 7,330 loads per week last year at this same time and was only 106 loads less than last year average. Boxed beef load counts this past six weeks have been very similar to last year after over a year of a very negative comparison.
The Primal cut trade portion of the spot trade everything was lower except some Loin cuts. The outside primal cuts (Rounds and Chucks) prices were 1-5 lower. The inside primal cuts the Loin and Rib were mixed 2-3 lower on Ribs but the Sel Loins were 3-9 higher which helped to narrow the Choice-Select spread.
The cow cutout was steady to firm trading in a very narrow range all week with little change on the 90 percent trimmings.
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