Agricultural News
Weekly Boxed Beef Trade for Week Ending June 7
Mon, 16 Jun 2014 15:28:28 CDT
The daily spot choice box beef cutout ended the week last Friday at 231.87 which was 1.00 higher than the previous week. There were 869 loads sold for the week in the daily box 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 229.55 which was only 23 cents lower.
The total reported box beef volume was 7,281 loads which was 155 loads higher than the previous week and two weeks in a row above 7,000. The total sales continued to improve as retailers purchased product to refill shelves after Father's day, which would mean they had pretty good sales for this big grilling weekend.
Exports were really good at 1,082 loads which were 348 loads more than last week. The formula trade was at 3,622 loads which was about 50 percent of the total loads sold and 82 loads more than last week as retailers bought product to restock shelves.
The out-front sales were 1,269 loads which was 57 loads more than the prev week. However last year as well as previous years we normally have over 1,600 loads but that has been more normal this year as meat buyers have been reluctant to book large amts of product and have been buying the product as they need it.
The weekly average prices for choice primal cuts were unchanged to three lower for the chucks, rounds, and loins but two better for the rib primal which puts it within 1 dollar from the big top that was posted last December.
The cow cutout which is a major source of ground beef products was about 2.35 higher at 198 and ninety percent trimmings about 2.90 higher. In fact the cow cutout had not moved much in the past seven weeks. We started the big cow cutout rally at about 155 the first of December, peaked 205 in Mid March then leveled out where we are today. Apparently after that big price jump in cow products there was a significant import jump that softened the impact of reduced cow numbers keeping prices more subdued and steady. We also saw a lot more chuck and round products ground during that time period also.
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