Agricultural News
Daily Spot Choice Boxed Beef Cutout Falls
Mon, 01 Jul 2013 15:36:29 CDT
Ed Czerwien, USDA Market News, Amarillo, Texas, files this report for boxed beef trade ending June 29, 2013:
The daily spot Choice box beef cutout ended the week at 197.50, which was 1.89 lower. Volume was only 807 loads for the weekly total of the daily spot load count was about 10 percent of the total boxed beef sales for the week.
The Comprehensive Choice cutout, choice is the weekly average of all types of sales (including the spot trade, formula trade, export sales and out-front sales) was at 197.01, choice was 1.51 lower than last week.
The total reported Box Beef volume was 7,743 loads choice was 434 loads more than last week. The formula trade was 3,934 loads for the week choice was 503 loads more than last week and about 51% of the total sales.
The out-front sales were 1,379 loads choice were 78 loads more than last week. Exports reported 1,259 loads choice was 78 loads more than the previous week. The NAFTA exports represented 216 of those loads and 1,043 loads were shipped overseas. The declining value of the dollar really helped exports out the last few weeks but that has started to improve again. The lower Boxed Beef prices coupled with the lower dollar made Beef more attractive to overseas buyers.
The most recent 10 week rolling Boxed Beef sales average was 7,229 loads per week choice compares to 7,415 loads per week last year at this same time and was only 186 loads less than last year average.
The Primal cut trade portion of the spot trade was uneven with small increases on most cuts but up to 17 lower on the loin. The outside primal cuts (Rounds and Chucks) prices were steady to 3 higher. The inside primal cuts the Loin and Rib were mixed with Ribs and the Select Loins steady to 1 higher but the Choice loins were 17 lower choice really helped to narrow the Choice Select spread.
The cow cutout was steady to firm trading in a very narrow range all week with a little improvement on the 90 percent trimmings.
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