Choice Cutout Values Ending 2014 Twenty Three Percent Higher Than a Year AgoTue, 30 Dec 2014 03:17:07 CST
Ed Czerwein of the USDA Market News Office in Amarillo, Texas has a look at the Weekly boxed beef trade for week ending Dec 27. You can hear his comments by clicking on the LISTEN BAR below.
The daily spot Choice box beef cutout ended the week last Fri at 244.52 which was a 5.95 hgr. There were only 538 loads sold for the week in the daily box beef cutout which was a typical holiday week and very similar to Thanksgiving week. It was about 10 percent of the total volume so the big jump in price did not help the weekly avg that much.
The Comprehensive or weekly avg Ch cutout which includes all types of sales was 243.46 which was 0.52 lwr. There were 5471 loads sold which was 952 loads lower for the week. This was a typical holiday week that was actually just a little better than last year. In fact last year the Ch cutout was at 197 so we are about 46 dollars higher.
The formula sales were at 2978 loads which was 197 loads lower 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 582 loads which was 269 loads lower than the previous week. 138 loads were sold to our NAFTA Neighbors and 444 loads were shipped overseas.
Taking a look at the primal cuts, The choice chuck and round primal cut prices were about 1-3 hgr and are beginning to make their normal seasonal upturn as retailers turn to featuring roasts and round type steaks. The loin was about 4 higher but the rib continued its plummet dropping another 19 dollars to total a 52 dollar drop since the first week of Dec. Rib prices carried the cutout earlier this fall and now the end cuts must step up and carry the load like they did last year.
The most recent out-front sales were at 1045 loads which was 107 loads lower. The recent Out-front sales volume which has been over a 1000 loads per week was normal in Dec as buyers book product for ad specials after the holidays.
The Cow Cutout and the ninety percent trimmings were both 1-2 higher. The cow cutout was about 1.40 hgr at 234.46 on Friday and the Select cutout was quite a bit higher so they continue to trade very close to each other.
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