Box Beef Sets New Record, Exports DeclineMon, 11 Aug 2014 15:44:18 CDT
Weekly boxed beef trade for week ending August 9
The daily spot choice boxed beef cutout ended the week last Friday at $260.45 which was $2.68 lower than the previous week. There were 751 loads sold for the week in the daily box beef cutout, and was about 13 percent of the total volume.
The comprehensive or weekly average choice cutout which includes all types of sales was $258.69 which was $5.33 higher, and makes another new all-time high but volume suffered again dropping below 6,000 loads.
The total reported Box Beef volume of 5,974 loads was 220 loads less than the previous week.
Exports dropped also and were at 495 loads which was 173 loads lower than last week and the lowest weekly total in a long time. The formula sales were almost the same as the previous week and were at 3,395 loads which was about 57 percent of the total loads sold and only 40 loads less than last week.
The out-front sales continue to be well below previous years and were 530 loads which was 187 loads less than the previous week and the lowest we have seen in a long time also.
The Cow Cutout and those 90 percent trimmings were steady to firm and both ended the week about 50 cent higher.
Like we have said in the past the low numbers of slaughter cows have been supporting the Box Beef cutout since we are grinding more chuck and round cuts to make up for the lack of ground beef from cows.
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