Beef Rib Primal Cuts Jump Dramatically in Latest Weekly Wholesale Beef Report- Ed Czerwein ReportsTue, 25 Nov 2014 09:37:01 CST
Weekly boxed beef trade for week ending Nov 22 The daily spot Choice box beef cutout ended the week last Fri at 255.22 which was a 3.06 hgr. There were 746 loads sold for the week in the daily box beef cutout which was about 150 loads lower than last week and almost 12 percent of the total volume.
The Comprehensive or weekly avg Ch cutout which includes all types of sales was 253.05 which was 3.34 higher and finally followed the daily trade which has improved steadily the last two weeks. The total reported Box Beef volume dropped quite a bit on the heels of the price jump. There were only 6310 loads sold which was 758 loads lower than the previous week.
The formula sales were fully steady at 3430 loads which was only 35 loads less than last week and 54 percent of the total loads sold.
Exports as reported on the weekly box beef report are predominately muscle cuts and they were at 691 loads which was 127 loads lower than the previous week. 138 loads were sold to our NAFTA Neighbors and 553 loads were shipped overseas.
The round, chuck, and loin primal cut prices have increased slightly to moderately. However the rib prices increased very dramatically and set new high prices, it has jumped almost 50 dollars since the first week of Oct. This rally is a normal seasonal event since Prime rib is the center stage for most company Christmas parties. However rib prices usually start dropping just as rapidly in early Dec after buyers have purchased their needs for this annual holiday event.
The most recent out-front sales were at 838 loads, which was 440 loads lower than the previous week. Last year we had slightly over 1000 loads of outfront sales during this same week.
The Cow Cutout and ninety percent trimmings both ended the week on Friday mostly steady to firm both increasing less than a dollar. This mostly 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 234.26 on Friday and the Select cutout was 241.93 so they were $7.67 apart. That spread is the largest in many weeks.
Click on the LISTEN BAR below to hear the analysis of this past week's Boxed Beef Trade with Ed Czerwein of the USDA Market News Office in Amarillo, Texas.
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