Lower Boxed Beef Sales, Retailers Ready for Memorial Day HolidayMon, 11 May 2015 19:18:07 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 9. The daily spot Choice box beef cutout ended the week last Friday at $258.12 which was 3.48 higher. There were 827 loads sold for the week in the daily box beef cutout. It was about 13 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 $256.00 which was 54 cents higher.
There were 6,386 total loads sold which was 186 loads lower than the previous week. The formula sales were at 3,354 loads which was 9 loads lower than last week and are about 52 percent of the total loads sold.
Exports as reported on the boxed beef report represent primarily muscle cuts and not variety meats and they were at 586 loads which was 97 loads lower. Our North American Free Trade Agreement neighbors bought 158 loads and 428 loads were shipped overseas.
The outfront sales were at 853 loads which was 196 loads lower than last week. Once again the biggest outfront sales were brisket with about 2 million pounds and the average price was $3 - $7 below current spot prices but very close to formula prices, about 1.3 million pounds of round products that were priced very close to formula prices and a 1.7 million pounds of middle meat items from the loin and rib that were priced $12 - $55 below current spot or negotiated prices. These recent outfront sales will begin to be delivered after Memorial Day.
Taking a look at the primal cuts, the choice chuck, and round primals were one lower to one higher. The rib was four lower. The Choice loins did continue to climb and were seven higher.
The Cow Cutout and the 90 percent trimmings were both 70 cents to $1.30 higher regaining what they lost the previous week. They have both traded in a very narrow range during the past eight to ten months due to limited available slaughter cows and strong demand for ground beef.
The latest report of imported meat passed for entry into the U.S. for May second showed that week we imported 27,942 metric tons of fresh beef which was 1,600 metric tons higher than the previous week and equates to over 61 million pounds imported for that one week. Year-to-date for the first 18 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 75 percent higher and New Zealand was up 31 percent.
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