Box Beef Trade Continues to Break RecordsMon, 04 Aug 2014 15:14:17 CDT
Weekly boxed beef trade for week ending August 2
The daily spot choice box beef cutout ended the week last Friday at $263.13 which was $5.75 higher than the previous week continuing to break records. There were 660 loads sold for the week in the daily box beef cutout, and was about 11 percent of the total volume.
The comprehensive or weekly average choice cutout which includes all types of sales was $253.36 which was $5.27 higher, and makes a new all-time high again but was about $9.77 below the Friday daily choice cutout. However volume got a lot tougher since we were 1,000 loads below last year.
The total reported box beef volume of 6,194 loads was 329 loads less than the previous week. Box beef sales volume had been holding up extremely well at these higher prices in early July but has really started to slip now at a time when tonnage has been improving due to increased weights.
Exports dropped also and were at 668 loads which was 182 loads lower than last week. The formula sales were almost the same as the previous week and were at 3,435 loads which was about 55 percent of the total loads sold and 80 loads more than last week.
The out-front sales continue to be well below previous years and were 717 loads which was 114 loads less than the previous week and well below the 1,382 loads for this same week last year.
The cow cutout ended the week 2.85 higher and those ninety percent trimmings were $3.36 higher. This rally rekindled the increases again after a couple of weeks of sideways trade.
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