Boxed Beef Report Shows Importance of Overseas MarketsMon, 03 Nov 2014 15:15:50 CST
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 November 1. The daily spot choice box beef cutout ended the week last Friday at $251.20 which was a $3.79 higher than the previous week but topped out on Wednesday over $253.6 then dropped $2.43 by Friday. During the past two weeks prices firmed up early in the week when buyers restocked shelves after the weekend only to fall late in the week. There were 735 loads sold for the week in the daily box beef cutout, and was about 12 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 $249.74 which was 2.05 higher and was no doubt helped by the bigger increase in the daily cutout. The total reported box beef volume took a big drop and was 6,221 loads which was 960 loads less than the previous week.
The formula sales held up very well and were at 3,441 loads which was only 74 lower than last week and 55 percent of the total loads sold.
Exports as reported on the weekly box beef report are predominately muscle cuts and they were only at 699 loads which was 280 loads lower than the previous week. Only 98 loads were sold to our NAFTA Neighbors who traditionally have been some our biggest trading partners and 601 loads were shipped overseas. Overseas shipments have become the cornerstone of our export efforts in the last few years.
The most recent out-front sales really dropped as prices increased and were at 686 loads, which was 512 loads lower.
The cow cutout and ninety percent trimmings both ended the week on Friday mostly steady which had been the case during most of October.
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