Box Beef Report Shows Retailers Prepare for Labor Day GrillingMon, 25 Aug 2014 19:33:49 CDT
Weekly boxed beef trade report for week ending August 23, 2014 - The daily spot choice box beef cutout ended the week last Friday at $249.77 which was $5.77 lower than the previous week. There were 889 loads sold for the week in the daily box beef cutout, which was another big week as retailers buy product for Labor day and was about 11 percent of the total volume.
The comprehensive or weekly average choice cutout which includes all types of sales was $251.91 which was 2.84 lower, and followed the daily cutout downward. However the big news again for the week was that the total volume jumped as retailers continue to buy product for the Labor day weekend. This was a very critical week for sales because very little product had been booked ahead for this holiday and there needed to be good last minute buying to take advantage of this major grilling weekend.
The total reported box beef volume of 7,717 loads was 782 loads more than the previous week. That makes two weeks in a row of large load counts since retailers have been buying hand to mouth.
Exports climbed and were at 931 loads which was 359 loads higher than last week and much more in line with numbers that we have seen during much of the last couple of years. The formula sales were almost the same as the previous week and were at 3,456 loads which was about 45 percent of the total loads sold and only 77 loads more than last week.
The out-front sales really jumped quite a bit again and were 1,689 loads which was 464 loads more than the previous week. Long term contracts made up a bigger portion of the outfront sales this week.
The cow cutout and the ninety percent trimmings which is the major product from cow carcasses were both about steady showing only about a 50 cent decline.
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