Agricultural News
'Out Front' Sales Indicate Good Demand for October, Ed Czerwien Says
Mon, 09 Sep 2013 11:52:10 CDT
Ed Czerwien, USDA Market News, Amarillo, Texas, files this report for boxed beef trade ending September 7, 2013:
The daily spot choice boxed beef cutout ended the week at 195.23, which was 44 cents lower and was just a little weaker than the comprehensive choice cutout which is the weekly average of all types of sales.
The comprehensive choice cutout, was at 195.73, and was 29 cents higher than last week. Sales volume was about the same as the previous week, which means retailers continued to reload shelves after the big grilling holiday.
The total reported boxed beef volume was 6,822 loads which was only six loads less than last week. The formula trade was 3,206 loads for the week which was 168 loads less than last week and about 47 percent of the total sales.
The big news was the out-front sales which were 1,568 loads and were 212 loads more than last week indicating once again good demand for October which is quite often a good grilling month.
Exports were even more outstanding with 1,167 loads sold which was 338 loads more than the previous week. The NAFTA exports were at 142 of those loads and a whopping 1,025 loads were shipped overseas.
In the primal cut trade portion of the spot trade, the outside primal cuts which are chucks and rounds, were steady to weak. The inside primals, the choice and select ribs and loins, were mostly one to three lower except the choice loins which were about three higher.
The most recent ten-week rolling boxed beef sales average was 6,903 loads per week and compares to 7,000 loads per week last year. It was 97 loads less than last year's average. The important item is that we are dropping quite a bit faster than last year and well below the previous years.
The cow cutout was pretty much steady after gaining about six the last couple of weeks.
You can hear Ed's full report by clicking on the LISTEN BAR below.
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