Retailers Restock Shelves After Holidays at Higher Prices- Latest Wholesale Beef TradeMon, 12 Jan 2015 19:58:29 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 January 10th. Click on the LISTEN BAR below to listen to Ed's comments about the weekly boxed beef trade.
The daily spot Choice box beef cutout ended the week last Friday at $256.79 which was a 8.91 higher. There were 874 loads sold for the week in the daily boxed beef cutout which was a good week of post holiday sales to restock shelves. It was about 11 percent of the total volume.
The comprehensive or weekly average Choice cutout which includes all types of sales was $249.68 which was 5.25 higher. There were 6,639 total loads sold which was 1,678 loads higher than the previous week and almost exactly the same as last year as retailers once again aggressively restock shelves after the holidays. However the cutout price is about $42 above last year.
The formula sales were at 3,426 loads which was 416 loads higher than last week and about 52 percent of the total loads sold. Exports as reported on the weekly boxed beef report are predominately muscle cuts and they were at 651 loads which was 267 loads higher than the previous week. Of that, 156 loads were sold to our North American Free Trade Agreement neighbors and 495 loads were shipped overseas.
Taking a look at the primal cuts, the choice chuck and round primal cut prices were about $2-5 higher which is typical for this time of the year. The Choice loin was $14 higher and rib was $6 lower. The rib price normally drops after the beginning of December and has continued it's downward plunge.
The most recent outfront sales were at 929 loads which was 546 loads higher than last week and almost the same as last year. This indicates buyers were willing to book a little product for advertised specials in February. The two biggest items were brisket and round products and the average price was within $3 of average of current formula prices.
The cow cutout was $1.44 higher and the 90 percent trimmings were $2.15 higher. The cow cutout was at $237.79 on Friday and the Select cutout was $8.91 higher at $248.23, so the spread has widened to almost $10.50.
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