Boxed Beef Makes Slight Jump from Last WeekMon, 26 Aug 2013 18:16:02 CDT
Ed Czerwien, USDA Market News, Amarillo, Texas, files this report for boxed beef trade ending August 24, 2013:
The daily spot choice box beef cutout ended the week at 196.19, which was slightly higher each day and ended the week 1.80 higher. Volume was only 721 loads, which was even lower than the previous week and about 10 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 193.69, which was 2.63 higher than last week but sales volume dropped.
The total reported boxed beef volume was 6,760 loads which was 621 loads less than last week. The formula trade was 3,442 loads for the week which was about steady with last week and about 51% of the total sales.
The out-front sales were 1,151 loads which were 636 loads less than last week and were responsible for most of the decline in total sales.
Exports were just a little better at 919 loads total loads sold which was 95 loads more than the previous week. The NAFTA exports were at 201 of those loads which was lower and 718 loads were shipped overseas.
In the primal cut trade portion of the spot trade was mixed with the outside cuts firm and the inside cuts representing steak meat lower since most product had already been bought for Labor Day. The outside primal cuts (rounds and chucks) prices were mostly steady to four higher, but the round showed some weakness. The inside primal cuts the ribs and loins were mostly two to six lower, but the choice loin showed some improvement.
The most recent ten-week rolling boxed beef sales average was 7,044 loads per week which was a pretty healthy drop from last week and compares to 7,234 loads per week last year. It was 190 loads less than last year’s average but was twice of where it was the previous week.
The cow cutout was almost four higher with some wild swings during the week and 90-percent trim was the main driving force for the cow cutout. It was about six higher for the week.
You can hear Ed's full report by clicking on the LISTEN BAR below.
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