Boxed Beef Volume Climbs Last Week Amid Mixed PricesMon, 03 Feb 2014 15:27:09 CST
The daily spot choice boxed beef cutout ended the week last Friday at $223.49, dropping seven cents on Friday alone and was $13.77 lower than the previous Friday but with only 523 loads sold for the week in the daily boxed beef cutout. However this cutout had been over $240 and has dropped almost $17 during the last ten days.
The comprehensive or average choice cutout which includes all types of sales including formula exports and outfront, was at $227.26 and was 67 cents higher, however it did not follow the 13-cent decline in the daily choice cutout, due mostly to formula sales.
The total reported boxed beef volume was 6,400 loads, which was 318 loads higher than last week. Exports were at 718 loads which were 48 loads lower than the previous week.
The formula trade was at 3,495 loads up over 100 loads from last week. It was about 55 percent of the total loads sold again this week and tends to have a buffering effect against the wide swinging daily cutout since the daily cutout was only about eight percent of total sales.
In the spot trade for the primal cuts the trade was very mixed and uneven. The outside primals the rounds and chucks which have set new all-time records climbing 50-54 dollars lately and drove the cutout to new all-time highs in the process but were 12-14 lower. Loins and ribs were steady to three higher, finally showing some strength after being lackluster since the Middle of December.
The out-front sales were 1,065 loads which was 144 loads more than the previous week. There were limited numbers of chuck and round product booked at 35-60 dollars per hundred-weight less than the current spot and formula market. However the big reported sales were 1.7 million pounds of ribeyes that were priced at about 36 dollars over the current prices. The recent choice loin and rib primal prices were really not very much different than the prices were late last summer since they had not increased that much the last month when the outside primals were skyrocketing.
The cow cutout was steady to firm and 90 percent trimmings were a little over 1 higher. Cow runs have been slow in most areas except the drought areas on the west coast.
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