Agricultural News
Weekly Boxed Beef Trade Posts Losses for the Week
Mon, 14 Apr 2014 15:04:45 CDT
The daily spot choice boxed beef cutout ended the week last Friday at $222.12 which was $6.62 lower than the previous week. There were 863 loads sold for the week in the daily boxed beef cutout, which was 12 percent of the total volume and the largest weekly volume since the second week of Feb which was a week of falling prices also.
The comprehensive or average choice cutout which includes all types of sales including formula exports and out-front, was $226.35 which was $6.79 lower and following the big decline in the daily cutout.
The total reported boxed beef volume was 7,106 loads, which was one of the largest load counts in some time even though it wasn't abnormally large. Exports were at 816 loads which was 41 loads more than last week and about 11 percent of total sales.
The formula trade was at 3,169 loads which was 51 lower than the last week. It was about 45 percent of the total loads sold this week.
The out-front sales were 1,538 loads which was 308 loads more than the previous week, however there were over 500 loads of long term contracts in the total out-front sales load count. There were very few middle meats sold with only 65,000 pounds of ribeyes sold at 37 over the current formula trade and about 500,000 pounds of bottom sirloin product sold at 30 over the current formula trade. The biggest items again were round and chuck products sold at 5-18 below the current trades.
In the spot trade for the primal cuts the trade was mixed with all primals except the rib showing losses. In the outside primals the rounds and chucks were 3-9 lower. In the middle meats and the ribs were steady to four higher but loins were one to three lower.
Live slaughter cow prices at auctions stabilized after declining during the previous week. The cow cutout and 90-percent trimmings were both fully steady after going down for almost two weeks.
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