Agricultural News
Weekly Boxed Beef Trade Ends the Week Higher
Mon, 19 May 2014 14:39:31 CDT
The daily spot choice boxed beef cutout ended the week last Friday at $225.98 which was $2.72 higher than the previous week. There were 739 loads sold for the week in the daily boxed beef cutout, which was about 11 percent of the total volume.
The comprehensive or weekly average choice cutout which includes all types of sales was $225.44 which was 56 cents lower.
The total reported boxed beef volume was 6,799 loads which was 147 loads more than the previous week. Don't forget that the daily cutout or spot trade along with formula products sold during this week ending Saturday the 17th will mostly likely be delivered just ahead of the Memorial Day weekend. This week has normally seen sales between 7,000-8,500 loads in previous years, so we are just a little lower than normal but not terrible.
Exports were at 786 loads which was 158 loads more than last week. The formula trade was at 3,491 loads which was 144 loads more than last week. It was about 51 percent of the total loads sold.
The out-front sales were 1,050 loads which was just a little lower than the previous week, however it was over 500 loads below both last year and the five-year average.
This week represents the first major seasonal spike week that has occurred each and every year since this product was ordered to be delivered prior to Fathers Day which is the next big holiday grilling weekend. The lack of normal seasonal out-front sales for this week is definitely a testimony that buyers are unwilling to commit to product ahead at current prices. Many buyers are waiting to see just how well the beef sales go for the Memorial weekend before they commit.
In the spot trade for the primal cuts, the prices were $1-$7 higher for all primals except the round which was $2-$3 lower. The rib showed the largest increases which was a normal seasonal trend due to the grilling holiday.
The cow cutout was fully steady but the 90-percent trimmings were about $1.50 lower.
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