Agricultural News
Weekly Boxed Beef Finishes Nearly Steady Last Week
Mon, 24 Mar 2014 12:03:44 CDT
Ed Czerwein with the USDA in Amarillo, Texas, files the following report (Click on the LISTEN BAR at the bottom of this story to hear his analysis):
The daily spot choice boxed beef cutout ended the week last Friday at $240.16 which was almost steady with last week but it had been $4 higher during the middle of the week. There were 622 loads sold for the week in the daily boxed beef cutout, which was nine percent of the total volume. Daily cutout volume improved as the prices began to drop.
The comprehensive or average choice cutout which includes all types of sales including formula exports and out-front, was $237.68 which was $6.94 higher.
The total reported boxed beef volume was 6,593 loads, which was 125 loads less than last week. Exports were at 722 loads which was down about 50 loads and were about 11 percent of total sales.
The formula trade was at 3,514 loads which was 124 higher than the last week. It was about 53 percent of the total loads sold this week
The out-front sales were 1,143 loads which was 295 loads less than the previous week. The big items this week were about three million pounds of brisket, round and chuck products which sold at about $19-$27 below the current formula market, however there were more middle meats sold for the upcoming grilling season. There were almost a million pounds of rib and loin products that sold from $46 to $159 above the current trade.
In the spot trade for the primal cuts the trade was mixed with the outside primals showing signs of weakness and the middle meats were higher as would be expected as we start preparing for the upcoming grilling season. The outside primals, which are rounds and chucks, were steady to $9 lower, while the middle meats, which are ribs and loins, were $2-$9 higher. Grinding products were lower and 50-percent trimmings dropped $12 by Friday.
The cow cutout was $3 higher making it about $29 higher since the beginning of February. Ninety-percent trimmings were over $4 higher also after climbing $44 since the beginning of February.
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