Agricultural News
Boxed Beef Prices Continue Their March Higher
Mon, 03 Mar 2014 17:52:01 CST
The daily spot choice boxed beef cutout ended last week at $225.33 and was $11.58 higher than the previous Friday. However there were only 700 loads sold for the week in the daily boxed beef cutout, which was 10.4 percent of the total volume.
The comprehensive or average choice cutout which includes all types of sales including formula exports and out-front, was $215.65 which was $6.26 higher but volume has started to show just a little sign of strain.
The total reported boxed beef volume was 6,708 loads, which was 141 loads lower than last week. Exports were at 741 loads which was 230 loads lower than the previous week.
The formula trade was at 3,394 loads which was 274 more than the last week. It was about 50 percent of the total loads sold this week. Keep in mind that some of the formulas are based on the previous week's price which would make them look a lot better to meat buyers than the $11 jump in the daily cutout trade this week.
The out-front sales were 1,082 loads which was 277 loads less than the previous week but still a decent number. The big items this week were 1.7 million pounds of brisket sold at about the same as the current market, a little over half million pounds of chuck rolls priced about $10 below the current spot trade and 1 million pounds of bottom sirloin product priced $18 over the current spot or negotiated trade.
In the spot trade for the primal cuts, the trade was higher in all regards again this week. The inside primals which are loins and ribs were steady to $10 higher. The outside primals, the rounds and chucks were $6-12 higher. Ground products were higher also, and 50-percent trimmings gained $10 during the week.
The Cow Cutout was steady to firm after showing a $15 rally in the last three weeks. Ninety-percent trimmings actually weakened slightly after climbing $25 dollars during the last three weeks.
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