Agricultural News
Ed Czerwien: Boxed Beef Climbs Higher for the Week
Mon, 21 Apr 2014 15:50:01 CDT
The daily spot choice boxed beef cutout ended the week last Friday at $226.35 which was $4.23 higher than the previous week. There were 891 loads sold for the week in the daily boxed beef cutout, which was 12 percent of the total volume. This was a big week in sales since buyers were ordering product to restock shelves for after the Easter holiday.
The comprehensive or weekly average choice cutout which includes all types of sales was $225.11 which was only $1.24 lower and beginning to level out as the daily cutout turned higher.
The total reported boxed beef volume was 7,350 loads which was 244 loads better than the previous week and the largest volume during the last 30 weeks. It was not as big as the same week last year but it was the biggest week in sales since mid-September last year. This was a very important week for sales not only because of restocking after a holiday, but it is also loads shelves for the beginning of grilling in many areas.
Exports were at 677 loads which was 139 loads less than last week and about nine percent of total sales. The formula trade was at 3,324 loads which was 155 more than the last week. It was about 45 percent of the total loads sold this week.
The out-front sales were 1,592 loads which was 54 loads more than the previous week. There were more middle meats sold with about 838,000 pounds of product mostly $8-$45 over the current formula prices. Once again the biggest items were round, chuck, and brisket products with over five million pounds sold from $5 above to $33 below the current trades. However much of these products were priced closer to the current trade than in previous weeks.
In the spot trade for the primal cuts, the trade was mixed with all primals improving. The outside primals which are the rounds and chucks were $3-$5 higher. The middle meats-the ribs and loins-- were steady to eight higher.
The cow cutout was 1.6 lower influenced by the 3.5 decline in the 90-percent trimmings that occurred since midweek.
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