Agricultural News
Weekly Boxed Beef Trade Climbs Higher Last Week
Mon, 13 Jan 2014 12:41:43 CST
The daily spot Choice boxed beef cutout ended the week last Friday at $214.98, which was $12.57 higher than the previous Friday but about $2.00 of the increase was created by changes in the cutout as the USDA updates it.
The Comprehensive or average Choice cutout which includes all types of sales including formula exports and out-front, was at $206.99 and was $6.78 higher. Part of the jump, approximately $2.00, was due to changes and updates in the boxed beef cutout. But volume and prices have both been greatly increased in the post-holiday restocking of shelves.
The total reported Boxed Beef volume was 6,651 loads, which was 1,049 loads higher than last week.
The formula trade was 254 loads more at 3,470 loads which was 52 percent of the total loads sold.
The out-front sales were 981 loads which was 202 loads more than the previous week. I forgot to mention last week that larger out-front sales made during early and mid-December are being delivered now and have had a big impact on the demand since they increased shipments at a time when slaughter numbers have been reduced.
Exports were at 629 loads which was 110 loads higher than last week.
In the spot trade for the primal cuts, most items were dramatically higher except the Choice Rib which was steady. The outside primals which are chucks and rounds were 11-15 higher as customers turn to more roast cuts after the holidays. The inside primals which are the loins and ribs were mixed with all loins and Select ribs 8-13 higher but the Choice ribs were steady which helped to narrow the Choice-Select spread.
The cow cutout was about 1.5 higher starting to level out after tremendous gains the last four weeks and 90-percent trimmings were about 1.5 higher also after gaining over 20 dollars in the past month.
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