Boxed Beef Cutout Showing Weakness Last WeekMon, 07 Apr 2014 14:43:20 CDT
The daily spot choice boxed beef cutout ended the week last Friday at $228.74 which was $5.72 lower than the previous week. There were 737 loads sold for the week in the daily boxed beef cutout, which was ten percent of the total volume.
The comprehensive or average choice cutout which includes all types of sales including formula exports and out-front, was $233.14 which was $5.40 lower and following the big decline in the daily cutout.
The total reported boxed beef volume was 6,710 loads, which was steady with last week. Exports were at 775 loads which was 136 loads less than last week and almost 12 percent of total sales.
The formula trade was at 3,220 loads which was 65 lower than the last week. It was about 48 percent of the total loads sold this week
The out-front sales were 1,230 loads which was 75 loads more than the previous week. The big items this week were about the same as last week with roughly 2.8 million pounds of brisket, round and a small amount of chuck products which sold mostly $12-$35 below the current formula market. There were very little middle meats sold with less than 200,000 pounds roughly four loads of choice rib and loin products but they sold $33-$36 above the current formula trades. Also there were another 200,000 pounds of select middle meats.
In the spot trade for the primal cuts the trade was mixed with all primals except the chuck showing substantial losses. In the outside primals the rounds were $8-$9 lower, but the chucks were steady to $2 higher. The middle meat ribs and loins were $3 to as much as $18 lower.
Live slaughter cow prices at auctions began to decline over the past week in response to the decline in meat prices. The cow cutout dropped over $6 because the main cow beef product which is 90-percent trimmings dropped over $12.
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