Boxed Beef Cutout Continues to DropTue, 11 Feb 2014 11:47:35 CST
Ed Czerwien, USDA Market News, Amarillo, Texas, files this report for boxed beef trade ending February 7, 2014:
The daily spot choice boxed beef cutout ended the week last Friday at $210.77 and was $12.72 lower than the previous Friday but with 770 loads sold for the week in the daily boxed beef cutout. However this cutout had been over $240 and has dropped almost $30 during the last two weeks.
The comprehensive or average choice cutout which includes all types of sales including formula exports and out-front, was at $217.74 and was $9.52 lower.
The total reported boxed beef volume was 6,125 loads, which was 275 loads lower than last week. Exports were at 560 loads which was 158 loads lower than the previous week and was one of the smallest non-holiday weeks in some time.
The formula trade was at 3,226 loads which was 269 loads lower than last week. It was about 52 percent of the total loads sold this week.
In the spot trade for the primal cuts, the trade was quite a bit lower in all cuts. The outside primals the rounds and chucks which had set new all-time records a few weeks ago were $14-$17 lower. The inside primals which are loins and ribs were 1-8 lower.
The out-front sales were only 623 loads which were 442 loads lower than the previous week and definitely one of the smallest weeks in some time.
The cow cutout and the 90-percent trimmings were steady to weak but not really much change.
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