Agricultural News
Holiday Grilling Positively Impacts Restocking Orders, Ed Czerwien Says
Tue, 03 Sep 2013 17:26:44 CDT
Ed Czerwien, USDA Market News, Amarillo, Texas, files this report for boxed beef trade ending August 31, 2013:
The daily spot choice box beef cutout ended the week at $195.67, which was slightly higher each day and ended the week 50 cents lower. Volume was only 712 loads, which was even lower than the previous week.
The comprehensive choice cutout, which is the weekly average of all types of sales was at $195.44, which was $1.75 higher than last week ending the week very close to the spot market. Sales volume improved since we had the good weather through much of the country, which really helped this last big grilling holiday and no doubt impacted the restocking orders.
The total reported boxed beef volume was 6,828 loads which was 68 loads more than last week. The formula trade was 3,374 loads for the week which was 68 loads fewer than last week and about 49% of the total sales.
The out-front sales were 1,356 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 were 205 loads more than the previous week, indicating good demand for September and early October which are quite often good grilling months and we hope that they wil make up for the slow, cold start last spring. The NAFTA exports were at 180 of those loads which was lower and 649 loads were shipped overseas.
In the primal cut trade portion of the spot trade ribs, chucks, and rounds were predominantly steady to two lower, except the loin which was mixed. The choice loin saw some improvement and was one higher, but the select loin was five lower. Those fifty percent trimmings were really bouncing around during the last two weeks with wild swings from a high of 110 to a low of 101 but ended the week at 107 which would be about two lower. The reason we watch the fifties so close is that they are the single largest component of the boxed beef cutout.
The most recent ten-week rolling boxed beef sales average was 6,995 loads per week and compares with 7,099 loads per week last year. It was It was 104 loads less than last year's average. The important item, however, is that this was the first time since early June that we dropped below 7,000 loads per week and even more important was that last year we never dropped below 7,000 loads until Thanksgiving 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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