Agricultural News
Weekly Boxed Beef Prices Continue to Climb
Tue, 21 Jan 2014 11:22:09 CST
The daily spot choice boxed beef cutout ended the week last Friday at $231.71, which was $16.37 higher than the previous Friday, but with only 577 loads sold for the week in the daily boxed beef cutout.
The comprehensive or average choice cutout which includes all types of sales including formula exports and out-front, was at $215.27 and was $8.28 higher and volume continues to be good.
The total reported boxed beef volume was 6,365 loads, which was 286 loads lower than last week, but still very good considering the dramatic jump in prices.
The formula trade was at 3,351 loads which was 53 percent of the total loads sold and down only 119 loads from last week.
The out-front sales were 1,040 loads which was 59 loads more than the previous week. Exports were at 837 loads which was 208 loads higher than last week.
In the spot trade for the primal cuts, most items were dramatically higher again, but rounds and chucks were 14-22 higher, setting new all-time record highs. Tremendous demand for ground product has no doubt contributed to the demand for rounds and chucks involving further grinding of cuts from those primals.
The cow cutout was about 1.7 higher and 90 percent trimmings were about 1.5 higher again. The cow cutout is not sharing the explosion in prices that the fed cutout has enjoyed but it had jumped quite a bit in late December.
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