Agricultural News
Sales Volume Jumps in Beef Trade for the Week Ending September 14th
Mon, 16 Sep 2013 15:11:04 CDT
The daily spot choice boxed beef cutout ended the week at $192.69, which was $2.54 lower with 975 total loads sold during the week on the daily spot trade which was the largest in some time.
The comprehensive or average choice cutout, was at $194.43, and was 1.3 lower than last week. Sales volume however was tremendous, jumping 852 loads compared to last week and it was the third largest volume so far this year. Only one week in June and April surpassed it. The biggest thing was that it was driven by domestic demand and not export sales.
The total reported boxed beef volume was 7,674 loads which was 852 loads more than last week. The formula trade jumped also and was 3,355 loads for the week which was 149 loads more than last week but only about 44 percent of the total sales indicating that negotiated sales played a very big role.
The out-front sales were 1,664 loads and were another 96 loads more than last week indicating once again good demand for October and November.
Exports were 974 loads sold which were 193 loads less than the previous week. The NAFTA exports were at 302 of those loads which was twice that of last week and 672 loads were shipped overseas which was 350 loads less than last week.
In the primal cut trade portion of the spot trade, the outside primal cuts which are chucks and rounds were mostly steady to firm. However the inside primals took a very dramatic drop, the ribs and loins were 3-12 lower as the big push for steak meats subsides.
The most recent ten week rolling boxed beef sales average was 7,054 loads per week and compares to 7,133 loads per week last year. It was 79 loads less than last year's average but it slowed down the dramatic drop we saw the past few weeks and followed in step with last year's minor jump.
The cow cutout was around one lower after gaining about six the last couple of weeks.
WebReadyTM Powered by WireReady® NSI
Top Agricultural News
More Headlines...
