Boxed Beef Continues Climb Higher, Ed Czerwein ReportsMon, 10 Mar 2014 12:34:09 CDT
The daily spot choice boxed beef cutout ended the week last Friday at $236.02 and was $10.69 higher than the previous Friday, jumping over $22 in the last two weeks. However, there were only 584 loads sold for the week in the daily boxed beef cutout, which was nine percent of the total volume. Daily volume dropped quite a bit and was similar to when prices stopped going up in January.
The comprehensive or average choice cutout which includes all types of sales including formula exports and out-front, was $226.53 which was $10.88 higher. The total volume of sales has slipped some, but held up fairly well considering the big jump in prices.
The total reported boxed beef volume was 6,384 loads, which was 324 loads lower than last week. Exports were at 752 loads which was just about steady compared to the previous week.
The formula trade was at 3,312 loads which was 82 less than the last week. It was about 52 percent of the total loads sold this week
The out-front sales were 1,239 loads which was 157 loads more than the previous week. The big items this week was another million pounds of brisket sold at about 13-20 below the current negotiated market, over 1 million pounds round product priced about $4-$30 dollars below the current spot trade and around 100,000 pounds of ribeyes sold at $40 over the current negotiated trade.
In the spot trade for the primal cuts, the trade was $4 to $9 higher on rounds, chucks and ribs, but was $16-$20 higher on the loin primal. Grinding product was higher in all regards with 50-percent trimmings jumping over $20 by Friday.
The cow cutout was $6 higher making it over $20 higher in the last 30 days. Ninety-percent trimmings were over $6 higher also after climbing $30 during the last month.
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