Boxed Beef Makes Big JumpMon, 19 Aug 2013 16:40:31 CDT
Ed Czerwien, USDA Market News, Amarillo, Texas, files this report for boxed beef trade ending August 17, 2013:
The daily spot choice boxed beef cutout ended the week at 194.39, which took a very big jump and was 5.40 higher. Volume was only 764 loads, which was the lightest non-holiday week since May and about ten percent of the total boxed beef sales for the week.
The comprehensive choice cutout, which is the weekly average of all types of sales, was at 191.06, which was 2.78 higher than last week with a big improvement in sales volume.
The total reported boxed beef volume was 7,381 loads which was 385 loads more than last week. The formula trade was 3,423 loads for the week which was 133 loads less than last week and about 46 percent of the total sales.
The out-front sales were much better at 1,787 loads which were 748 loads more than last week and included 753 loads of forward contracts which is quite large. The forward contract portion represents long term contracts and is a departure from the hand-to-mouth buying that has been so prevalent lately.
Exports jumped a little also with 824 loads total loads sold which was 29 loads more than the previous week. The NAFTA exports were at 321 of those loads which was the biggest jump and 503 loads were shipped overseas.
In the Primal cut trade portion of the spot trade was higher on all primals. The outside primal cuts (rounds and chucks) prices were four to five higher. The inside primal cuts, the loins and ribs, were two to seven higher.
The most recent ten week rolling boxed beef sales average was 7,187 loads per week which compares to 7,283 loads per week last year and was only 96 loads less than last year’s average.
The cow cutout was almost two higher after being steady for the last five weeks and gained most of that on Friday.
You can hear Ed's full report by clicking on the LISTEN BAR below.
WebReadyTM Powered by WireReady® NSI
Top Agricultural News