Agricultural News
Weekly Boxed Beef Prices and Volume Levels Lower Than a Week Ago
Mon, 01 Jun 2015 17:15:22 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 30. The daily spot choice boxed beef cutout ended the week last Friday at $254.99 which was 5.26 lower, but it had been over $261 early in the week when retailers were reordering after the Memorial day weekend. Thursday and Friday saw very significant drops in prices. There were 619 loads sold for the week in the daily box beef cutout during this holiday shortened week. It was about 11 percent of the total volume.
The comprehensive or weekly average Choice cutout which includes all types of sales including the daily spot cutout was $258.64 which was $1.06 lower.
There were 5,771 total loads sold which was 829 loads lower than the previous week. The formula sales were at 3,220 loads which was 166 loads lower than last week and are about 56 percent of the total loads sold. Sales volume and prices began to really slow down late in the week since retailers had already ordered to refill shelves after the previous busy holiday weekend.
Exports as reported on the boxed beef report represent primarily muscle cuts and they were at 730 loads which was 233 loads lower. Our North American Free Trade Agreement neighbors purchased 194 loads and 536 loads were shipped overseas.
The outfront sales were only at 768 loads which was 356 loads lower than last week.
Taking a look at the primal cuts, the choice chuck, and round primals were two lower to two higher again this week. The choice loins and ribs were one to five lower and the loin lost the most. The major driving factors in the cutout rally had been the tremendous rise in the choice loin and rib prices which were supported by the demand for grilling steaks, but those prices are slipping now after the holiday.
The cow cutout was almost steady for the week and the 90 percent trimmings were 70 cents higher. Both of these items have been very stable in prices for most of the last year.
Click on the LISTEN BAR below to listen to Ed's comments about the weekly boxed beef trade.
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