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Agricultural News

Boxed Beef Cutout Values Climb After Government Shutdown

Mon, 28 Oct 2013 15:56:54 CDT

Ed Czerwien, USDA Market News, Amarillo, Texas, files this report for boxed beef trade ending October 25, 2013:


The daily spot choice box beef cutout ended the week last Friday at 200.97, which was about 4.68 higher than the previous Friday with 732 loads sold for the week in the daily reported spot trade and represented only about 11 percent of the total sales for the week.


The comprehensive or average choice cutout, was at 198.25, and was 4.86 higher than the last weekly report from the end of September.


The total reported boxed beef volume was 6,437 loads which was a small total weekly load count. In fact it was the lowest number since the holiday-shortened Fourth of July week.   The formula trade was at 3,268 loads which was 51 percent of the total loads sold and pretty much normal.


The out-front sales were 972 loads and reflects more hand-to-mouth type buying thus a wait and see attitude.


Exports were 642 loads sold which was one of the lowest numbers we have seen in some time.


However the big item to watch this week was the fact that daily choice or spot cutout that we watch every day was almost 201 on Friday and was over 200 most of the week. Comparing that to the average choice cutout otherwise known as the comprehensive choice cutout at 198.25 which was considerably below the spot market and no doubt was influenced more by other types of sales than the daily spot trade which was only 732 loads for the week.


Retailers were no doubt sluggish in their purchases the first two weeks of the government shutdown (not knowing what was going to happen to sales) and were forced to be very aggressive and restock shelves last week which forced the market up quite a bit.


The cow cutout was mostly steady with normal seasonally larger runs of slaughter cows at auctions this time of the year as cow calf operators are busy moving their calf crop and culling cows.



   
   

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