Agricultural News
Wholesale Beef Trade Suggests Hand to Mouth Buying in Beef Pipeline as 2015 Begins- Ed Czerwein
Tue, 06 Jan 2015 03:38:23 CST
Here is the Weekly boxed beef trade for week ending January 03, 2015- as reported by Ed Czerwein of the USDA Market News Service office in Amarillo, Texas.
"The daily spot Choice box beef cutout ended the week last Friday at 247.83 which was $3.31 higher but it had been even higher on Wednesday. There were only 539 loads sold for the week in the daily box beef cutout. It was about 11 percent of the total volume.
"The Comprehensive or weekly average Choice cutout which includes all types of sales was 244.43 which was .97 higher. There were only 4961 loads sold which was 510 loads lower for the week and the lowest number since the same week in 2008. The daily cutout has rallied about 9.25 this past two weeks but the weekly average of all sales has only improved about 1.50 during the same time period. The daily cutout included about 1075 loads out of 10,400 that were actually sold during the two week period so those high daily prices did not have enough volume to carry avg cut out much higher.
"The formula sales were at 3010 loads which was 32 loads higher than last week and almost 61 percent of the total loads sold. Exports as reported on the weekly box beef report are predominately muscle cuts and they were only at 384 loads which was 198 loads lower than the previous week. 94 loads were sold to our NAFTA Neighbors and 290 loads were shipped overseas.
"Taking a look at the primal cuts, The choice chuck and round primal cut prices were about $3-4 higher which is typical this time of the year. The Choice loin was steady and rib was $10 lower. The rib price normally drops quite a bit after the beginning of December and indeed that happened in the final days of 2014.
"The most recent out-front sales were at 383 loads which was 662 loads lower and the lowest number in quite some time which means meat buyers are back to buying product hand to mouth.
"The Cow Cutout and the ninety percent trimmings were both about 2 higher. The cow cutout was at 236.35 on Friday and the Select cutout was 3.71 higher at 239.32, so the spread has begun to widen."
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