Agricultural News
Boxed Beef Sales Remain Strong for 4th Straight Week
Mon, 15 Sep 2014 15:38:28 CDT
On a regular basis, Ed Czerwein of the USDA Market News Office in Amarillo, Texas offers a review of the previous week's boxed beef trade. Here is the weekly boxed beef trade for week ending September 13th. The daily spot choice box beef cutout ended the week last Friday at $249.93 which was $1.26 higher than the previous week but it was actually about 1.50 higher than that during most of the week and dropped on Friday. There were 921 loads sold for the week in the daily box beef cutout, which was another big week and was about 13 percent of the total volume.
Click on the LISTEN BAR below to listen to Ed's comments about the weekly boxed beef trade.
The comprehensive or weekly average choice cutout which includes all types of sales was $249.06 which was $1.32 cents higher with good volume again due partially to the fact that price did not change significantly. The daily cutout on Friday was very close to the comprehensive or average this week. The total reported box beef volume of 7,261 loads was 297 loads less than the previous week. That makes four weeks in a row of large load counts above 7,000 loads which has really been supported by bigger outfront sales during this same time.
Exports were at 921 loads which was 37 loads lower than last week but continues to be very good numbers. The formula sales jumped 377 loads and were at 3,510 loads which was about 48 percent of the total loads sold.
The out-front sales dropped 292 loads but continue to be a very large portion of the total volume and were 1,364 loads. The out front sales averaged 1,625 loads per week during the last four weeks when we had over 7,000 total loads sold per week. That compares to less than 700 loads per week during the end of July and beginning of August so that extra 900 loads per week helped put total box beef sales over the 7,000 load count each week. The three largest volume items this week in the outfront sales were briskets, top butts, and choice short loins which together totaled over 2 million lbs. There weighted average prices for the outfront sales were slightly below the current formula prices.
The cow cutout and the ninety percent trimmings which are the major product from cow carcasses were both about 1.00 higher. Both of these appear to be plateauing out since they have really not changed much in the last four weeks.
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