Boxed Beef Prices Continue ClimbingMon, 28 Apr 2014 16:02:16 CDT
The USDA’s Ed Czerwien reports from Amarillo, Texas:
The daily spot choice boxed beef cutout ended last week at $232.83 which was $6.48 higher than the previous week. There were 631 loads sold for the week in the daily boxed beef cutout, which was ten percent of the total volume and down almost 30 percent from the previous week.
The comprehensive or weekly average choice cutout which includes all types of sales was $228.14 which was $3.03 higher but volume took an extremely big drop.
The total reported boxed beef volume was 6,318 loads which was 1,032 loads lower than the previous week which was the largest volume drop in some time and almost 1,000 loads less than last year.
Exports were at 945 loads which was 268 loads more than last week and about 15 percent of total sales. The overseas portion of the export volume really jumped and was over 800 loads by itself. The formula trade was at 3,313 loads which was fully steady with only 11 loads less than the last week. It was about 52 percent of the total loads sold this week
The out-front sales really dropped and totalled 959 loads which was 633 loads less than the previous week. There were really no dominant sales and very few middle meats sold. The big items the last few weeks were round, chuck, and brisket products but even they did not have many out-front trades and the prices were very similar to the current formula prices.
In the spot trade for the primal cuts, the prices were higher for all primals. The outside primals, the rounds and chucks, were $5-$7 higher. The middle meats, the ribs and loins, were $7-$12 higher, reflecting increased demand for steak products for grilling.
The cow cutout was about 1.4 lower, influenced by the 3.0 decline in the 90-percent trimmings.
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