Agricultural News
Beef Cutout Prices Continue to Climb
Mon, 04 Nov 2013 15:36:20 CST
The daily spot choice boxed beef cutout ended last week at $204.60, which was about $3.63 higher than the previous Friday, but with only 602 loads sold for the week in the daily reported spot trade, is the lowest number all year. In fact, that is lower than every holiday week including the last Thanksgiving, Christmas, and New Years. It represented only about 8.9 percent of the total sales for the week.
The comprehensive or average choice cutout, was at $202.18, and was $3.93 higher than last week.
The total reported boxed beef volume was 6,703 loads which was 266 more than last week and the increase was represented almost totally by exports. Exports were really great at 937 loads sold which was 295 loads better than last week and, no doubt, an important factor in the increased prices. The most important number for the week is the overseas exports which represented 795 of those loads and was a very big jump.
The formula trade was a little bigger at 3,425 loads which was 51 percent of the total loads sold again this week.
The out-front sales were 985 loads and almost fully steady with last week but lower than normal which once again reflects more hand-to-mouth type buying.
Fifty percent trimmings which are the largest single cut component of the cutout have climbed 26 cents per pound to $114-$115 area since the last week in September, providing quite a bit of the increased support for the cutout. However the daily spot trade only reported around a half million pounds last week which is really small since it normally runs between 2 and 3 million pounds per week and this denotes a more cautious mood for the buyers.
The cow cutout was $1.50 lower with the normal seasonally larger runs of slaughter cows at auctions this time of the year. Ninety percent trimmings, the largest component of the cow cutout, was $3.00 lower at 155.69.
WebReadyTM Powered by WireReady® NSI
Top Agricultural News
More Headlines...
