US Boxed Beef Sales Turn MixedMon, 01 Dec 2014 12:50:59 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 29th. The daily spot choice boxed beef cutout ended the week last Friday at $257.40 which was a $2.18 higher. There were 539 loads sold for the week in the daily box beef cutout which was about 207 loads lower than last week and about 9 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 $255.00 which was 1.95 higher and continues to follow the daily trade which has improved steadily the last three weeks. The total reported boxed beef volume dropped quite a bit again on the heels of the price jump. There were only 5,918 loads sold which was 392 loads lower during this holiday shortened week. However this week’s sales were about 200 loads better than Thanksgiving week last year.
The formula sales were fully steady at 3,444 loads which was only 14 loads better than last week and 58 percent of the total loads sold.
Exports as reported on the weekly box beef report are predominately muscle cuts and they were at 651 loads which was 40 loads lower than the previous week. 163 loads were sold to our NAFTA Neighbors and 488 loads were shipped overseas.
The chuck, and loin primal cut prices were steady and the round was 3 higher. However the rib prices increased very dramatically again jumping another 10 dollars to set new high prices, it has jumped about 60 dollars since the first week of October. Like we said last week this rally is a normal seasonal event since prime rib is used during many company Christmas parties. However rib prices normally start dropping just as rapidly in early December so we will have to monitor that closely.
The most recent outfront sales were at 885 loads, which was 47 loads higher than the previous week. Low numbers of outfront sales are a normal seasonal event during the past couple of weeks.
The cow cutout and ninety percent trimmings both ended the week on Friday about 1 higher. The cow cutout was actually at $235.26 on Friday and the select cutout was $245.85 so they were $10.59 apart. That spread is the largest in many weeks since the southeast prices have increased dramatically lately and the cows have held closer to steady in the midst of the slightly increased fall run of slaughter cows. The fall run is not near as big as normal due to previous years of drought conditions and extra buyers picking off cows to return to the country.
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