Boxed Beef Sales and Imports Remain StrongTue, 05 May 2015 09:55:49 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 weekly boxed beef trade for week ending May first. The daily spot Choice box beef cutout ended the week last Friday at $254.64 which was $2.35 lower. There were 841 loads sold for the week in the daily box beef cutout. It was about 13 percent of the total volume. Once again the daily cutout has shown the tendency to be higher early in the week as retailers reorder after the busy weekend, but then drop later in the week. 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 $255.46 which was 2.11 lower. There were 6,572 total loads sold which was 90 loads higher than the previous week. The formula sales were at 3,363 loads which was 105 loads higher than last week and are about 51 percent of the total loads sold.
Exports were at 683 loads which was 237 loads lower. Sales to our North American Free Trade Agreement neighbors totaled 239 loads and 444 loads were shipped overseas.
The out front sales were at 1,049 loads which was 48 loads lower than last week. The biggest out front sales were brisket with about 1.3 million pounds and the average price was $14 -16 below current formula prices, about a million pounds of round products that were priced $7 - 18 below current prices and a few middle meat items from the loin that were priced $32 - 86 below current formula prices.
Taking a look at the primal cuts, the choice chuck, and round primals were $4 lower. The rib was $1 lower after many weeks of a strong rally. The Choice loins did continue to climb and were 2 higher. In the last week and a half the 50 percent trimmings fell from 130 down to 90 on Friday.
The cow cutout and the 90 percent trimmings were both around 1-1.5 lower. The Cow cutout was at $233.34 and the Select cutout dropped almost 4.5 and was at $243.22 lowering the spread to about $10.
The latest report of imported meat passed for entry into the US for April 25 showed that week we imported 26,304 metric tons of fresh beef which was 1,300 metric tons lower than the previous week and equates to over 57 million pounds imported for that one week. Year-to-date for the first 17 weeks of this year we are still running 39 percent higher fresh beef imports than last year and that is on top of last years jump in imports. Australia was 78 percent higher and New Zealand was up 30 percent.
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