Agricultural News
Ground Beef Shows Strength Over Other Cuts in Weekly Boxed Beef Trade
Tue, 12 Nov 2013 14:56:57 CST
The daily spot choice box beef cutout ended the week last Fridar at $202.79, which was about $1.81 lower than the previous Friday, but with only 689 loads sold for the week in the daily reported spot trade, is again one of the lowest numbers all year. It represented about ten percent of the total sales for the week.
The comprehensive or average choice cutout was at $202.26, and was basically steady since it was only eight cents higher than the last week. The daily spot cutout dropped almost $2 during the week, but did not force the average choice cutout lower.
The total reported boxed beef volume was 6,575 loads which was 128 less than last week. Exports were really good again at 949 loads sold which was 12 loads better than last week. The overseas exports represented 764 of those loads which was only 30 loads less than last week.
The formula trade was a little lower, but normal at 3,383 loads which was 51 percent of the total loads sold again this week.
The out-front sales were 1,156 loads and 171 loads better than last week, but they have been running lower than normal lately.
Fifty-percent trimmings, which are the largest single cut component of the cutout, have climbed almost $30 to the $115-$117 range since September providing quite a bit of the support for the cutout and underlining the importance of ground products.
The cow cutout and 90-percent trimmings were both almost $1 higher for the week showing some support for ground product.
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