The Latest Boxed Beef Report from Ed CzerweinTue, 17 Mar 2015 10:39:30 CDT
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 March 14 The daily spot Choice box beef cutout ended the week last Fri at 244.12, which was 4.36 lower. There were 704 loads sold for the week in the daily box beef cutout. It was about 12 percent of the total volume.
The Comprehensive or weekly average Choice cutout which includes all types of sales including the daily spot cutout was 246.76 which was 1.64 higher.
There were 6055 total loads sold which was 706 loads lower than the previous week. The formula sales were at 3405 loads which was only 44 loads lower than last week and are 56 percent of the total loads sold.
Out front sales and exports both fell to around half of the previous week.
Exports as reported on the weekly box beef report were at 455 loads which was 352 loads lower than the previous week. 80 loads were sold to our NAFTA Neighbors and 375 loads were shipped overseas
The most recent out-front sales were at 704 loads which was 724 loads lower than last week.
The biggest part of the Out front sales (2.5 mil pounds) represented chuck and round products that had average prices that were 11-24 below current formula prices again this week. However, there were also over a million pounds of middle meats, mostly short-loins and bottom sirloins that had average prices that were 10-44 over the current formula prices and no doubt were destined for the grilling season specials.
Taking a look at the primal cuts, the choice chuck, and round primals were steady to 1 lower. The middle meats which are loins and ribs were 2-7 higher and are beginning to make there seasonal price increases prior to the grilling season. The rib had the highest jumps the past 3 weeks.
The cow cutout was at 230.69 and the Select cutout was 244.07 on Friday keeping the spread at 14 dollars. During the last year the cow cutout has traded much closer to the select cutout due to fewer available cows for slaughter which helped to push the cow products higher.
The Cow Cutout was 0.92 higher and the ninety percent trimmings were 0.89 higher last Friday keeping the demand for slaughter cows good. However there were quite a few more slaughter cattle at auctions this week due partially to the fact that the previous week's numbers were low due to storms.
The latest report of imported meat passed for entry into the US for Mar 04 showed that week we imported 21,680 metric tons of fresh beef which is up about 1500 metric tons and equates to 47 million pounds imported for that one week. Year to date for the first 10 weeks of this year we are running 51 % higher fresh beef imports than last year and Australia is up 112 %, providing the biggest individual chunk of the imports and New Zealand is up 31 % and are the second largest country.
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