Boxed Beef Values Holding StrongMon, 13 Oct 2014 14:53:57 CDT
In the weekly boxed beef trade for week ending October 11, Ed Czerwien of the US Department of Agriculture Market News in Amarillo, Texas reports the daily spot choice box beef cutout ended the week last Friday at $247.67 which was a whopping $9.35 higher than the previous week. Each day was better all week long which was quite an improvement from the previous week. There were 890 loads sold for the week in the daily box beef cutout, which was almost 200 loads less than the previous week and was about 15 percent of the total volume.
The comprehensive or weekly average choice cutout which includes all types of sales was $243.48 which was $4.77 higher. The total reported box beef volume was 6,641 loads which was 307 loads less than the previous week but good volume again especially when you add the previous out-front sales from a month ago.
Exports were at 635 loads which was 115 loads less than last week and continues to show the influence of the increasing value of the dollar compared to a couple of months ago.
The formula sales were at 3,507 loads which was about the same as last week but about 53 percent of the total loads sold. Once again as prices jump and other types of sales drop off in volume the formula sales hold their own and increase as a percentage of total sales.
The out-front sales were almost exactly the same and were at 880 loads, However the big news again was the fact that packers had to honor previous out-front sales that were made about a month ago which were quite a bit above current levels.
The cow cutout was $1.36 higher and the ninety percent trimmings were about $1.47 higher.
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