Box Beef Report Show Strong Fourth of July SalesMon, 14 Jul 2014 15:07:07 CDT
Weekly boxed beef trade for week ending July 12th.
The daily spot choice box beef cutout ended the week last Friday at $251.79 which was 3.67 higher than the previous week and slipped a little on Friday. There were 601 loads sold for the week in the daily box beef cutout and was about 9 percent of the total volume.
The comprehensive or weekly average choice cutout which includes all types of sales was $244.46 which was $3.24 higher, and makes a new all-time high.
The total reported box beef volume of 6,866 loads was 1,499 loads more than the previous week and only 371 loads less than last year. The big jump in sales during this week that retailers were restocking shelves after the fourth indicates that sales must have been good during the holiday and much better than the previous week would have indicated.
Exports were at 749 loads which was 97 loads higher than last week. The formula sales really jumped also and were at 3,756 loads which was almost 55 percent of the total loads sold and 995 loads more than last week. This is quite an improvement over last weeks small number.
The out-front sales were 1,010 loads which was 125 loads more than the previous week but still quite a bit below previous years.
The cow cutout which is a major source of ground beef products continues to increase and was over $9 higher and those ninety percent trimmings were over 15 higher sustaining the big rally. The cow cutout jumped $32 since June 1 and ninety percent trimmings which is the main product from cows jumped almost 50. The fourth of July time of the year often sees high cow tops since there is small volume going thru auction barns due to the summer grazing season. This year the Southern Plains had received adequate rains in most areas. Ground beef and hamburgers take over the limelight for the summer grilling season in most areas during the hot days of mid summer.
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