Boxed Beef Sales Increase Despite Firmer PricesMon, 17 Nov 2014 18:44:46 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 15. The daily spot choice box beef cutout ended the week last Friday at $252.16 which was a $3.05 higher firming up each day as the week progressed. There were 903 loads sold for the week in the daily box beef cutout, and was almost 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 $249.71 which was almost steady since it was only 28 cents higher. The weekly average has not changed more than 30 cents in the past three weeks even though the daily cutout has had 2-3 dollar swings up and down. The total reported box beef volume jumped a little again with the steadier prices and was 7,068 loads which was 274 loads higher than the previous week.
The formula sales held up very well again and were at 3,465 loads which was 173 loads less than last week and 49 percent of the total loads sold.
Exports as reported on the weekly box beef report are predominately muscle cuts and they were at 818 loads which was only 51 loads higher than the previous week. 184 loads were sold to our NAFTA Neighbors and 634 loads were shipped overseas.
The most recent out-front sales were at 1,278 loads, which was 300 loads higher than the previous week. There were over 3 million lbs of round products that were priced at steady to 3 higher than the current formula prices. Also about a million lbs of chuck products that were priced about steady with current formula prices.
The cow cutout and ninety percent trimmings both ended the week on Friday mostly steady to weak both declining less than a dollar. This steady trend has been the case during much of the fall due primarily to the demand for ground beef and low slaughter cow numbers. The cow cutout was actually at $233.93 on Friday and the select cutout was $238.29 so they were about $4.00 a part again this week.
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