U.S. Beef Exports Slide, as Fresh Beef Imports Nearly 50 Percent Higher Than 2014Mon, 30 Mar 2015 17:18:44 CDT
On a regular basis, Ed Czerwein of the U.S. Department of Agriculture Market News Office in Amarillo, Texas offers a review of the previous week's boxed beef trade. Here is the report for the week ending March 28th. The daily spot Choice box beef cutout ended the week last Friday at $250.80, which was $6.29 cents higher. There were 631 loads sold for the week in the daily boxed beef cutout. It was about 10 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 including the daily spot cutout was $246.98 which was $1.42 higher. There were 6,000 total loads sold which was 553 loads lower than the previous week. The formula sales were at 3,261 loads which was 138 loads lower than last week and are about 54 percent of the total loads sold.
Exports as reported on the weekly box beef report were at 675 loads which was 264 loads lower than the previous week. Our North American Free Trade Agreement purchased 74 loads and 601 loads were shipped overseas. The out-front sales totaled 840 loads which was 305 loads lower than last week. These current outfront sales this week were mostly Chuck and round products which totaled over 1.7 million lbs and there average prices were $4-6 dollars below current spot prices. There was also 237,000 lbs of ribeyes that were priced below the current market.
Taking a look at the primal cuts, The choice chuck, and round primals were one lower to one higher. The middle meats, which were loins and ribs, were $4-5 higher and are continuing their seasonal price rallies as we begin the grilling season.
The cow cutout was at $231.76 and the Select cutout was $246.71 on Friday putting the spread at $15. The Cow Cutout was 65 cents higher and the 90 percent trimmings were 41 cents higher last Friday.
The latest report of imported meat passed for entry into the US for March 21 showed that week we imported 23,595 metric tons of fresh beef which was about 1,800 more than last week and equates to almost 52 million lbs imported for that one week. Year-to-date total for the first 12 weeks of this year are running 45 percent higher for fresh beef imports than last year. Australia was up 93 percent and the second largest country was New Zealand with imports up 31 percent.
WebReadyTM Powered by WireReady® NSI
Top Agricultural News