Agricultural News
Weekly Boxed Beef Price Levels Higher Than a Week Ago
Mon, 18 May 2015 20:31:21 CDT
Each week, Ed Czerwein with USDA Market News office in Amarillo, Texas reports on the weekly boxed beef cutout trade. Here is his report for this past week- you can also hear his commentary by clicking on the LISTEN BAR below.
Weekly boxed beef trade for week ending May 16 The daily spot Choice box beef cutout ended the week last Fri at $261.93 which was $3.83 higher, but had been over $264 on Thursday. There were 693 loads sold for the week in the daily box beef cutout. It was about 9% of the total volume.
The Comprehensive or weekly average Choice cutout which includes all types of sales including the daily spot cutout was $258.87 which was 2.87 hgr.
There were 7210 total loads sold which was 824 loads higher than the previous week. The formula sales were at 3676 loads which was 322 loads higher than last week and are about 51 percent of the total loads sold. The Memorial day holiday weekend has really helped both the prices and volume.
Exports as reported on the Boxed Beef report represent primarily muscle cuts and not variety meats and they were at 981 loads which was 395 loads higher. 188 loads were sold to our NAFTA Neighbors and 793 loads were shipped overseas.
The out-front sales were at 1473 loads which was 620 loads higher than last week as retailers prepare for Fathers Day features. Once again, the biggest outfront sales this week were brisket with about 1.7 million lbs and the average price was $1-$4 below current spot prices, there was about 1.8 million lbs of round products that were priced 8-32 dollars below the spot trade. One million lbs of ribeyes that were priced from $10 below to a couple dollars higher than the current spot or negotiated prices.
Taking a look at the primal cuts, the choice chuck, and rnd primals were steady to 2 higher. The Choice loins and Ribs both were$ 7 hgr and averaged the same price at $381.
The Cow Cutout and the ninety percent trimmings were both approaching $2.00 lower compared to the previous Friday.
The latest report of Imported meat passed for entry into the US for May 09 showed that week we imported 25,301 metric tons of fresh beef which was 2600 metric tons lower than the previous week and equates to over 55 million lbs imported for that one week. The year to date for the first 19 weeks of this year we are still running 37 % higher fresh beef imports than last year and that is on top of last years jump in imports.
Australia was 71 % higher, and New Zealand was up 30%.
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