Ed Czerwien Reports Weely Boxed Beef Prices Slide LowerTue, 13 May 2014 15:03:07 CDT
Weekly boxed beef report with Ed Czerwien.
The daily spot choice boxed beef cutout ended the week last Friday at $223.26 which was $5.12 lower than the previous week. There were 839 loads sold for the week in the daily boxed beef cutout, which was about 12 percent of the total volume.
The comprehensive or weekly average choice cutout which includes all types of sales was $226.00 which was $4.17 lower which has finally begun to follow the decline in the daily cutout. The daily cutout has dropped over $9.00 dollars in the last two weeks.
The total reported boxed beef volume was 6,652 loads which was 162 loads lower than the previous week.
Exports were at 628 loads which was 241 loads less than last week. The formula trade was at 3,347 loads which was 142 loads less than last week. It was about 50 percent of the total loads sold.
The out-front sales were 1,071 loads which was almost exactly the same as the previous week. There continues to be only small quantities of choice middle meats sold outfront, however there were a more select middle meats than choice product which no doubt helped to narrow the choice-select spread.
The big items again this week were round products which has been the case for over six weeks now at a time when middle meats usually take the spotlight for the grilling season.
In the spot trade for the primal cuts the prices showed decreases in all primals. The outside primals which are the rounds and chucks were 1-5 lower again this week which is not unusual, however the middle meats which are ribs and loins were 1 to 10 lower which is a little unusual this early in the grilling season.
The cow cutout was about $2.61 higher after 3 weeks of slowly-declining prices and was no doubt influenced by the $3.90 increase in the 90-percent trimmings.
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