Agricultural News
Boxed Beef Sales Benefit from Father's Day
Mon, 22 Jun 2015 16:19:18 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 Friday, June 20th. The daily spot Choice box beef cutout ended the week last Friday at $251.32, which was $5.60 higher compared to last Friday and no doubt benefited from Father's Day and the Fourth of July being close together. There were 612 loads sold for the week in the daily box beef cutout. It was about nine percent of the total volume.
The comprehensive or weekly average Choice cutout which includes all types of sales including the daily spot cutout was $246.80 which was $2.66 higher regaining some after losing over $14 in the previous two weeks
There were 6,511 total loads sold, which was 92 loads lower than the previous week. The formula sales were at 3,558 loads which was 70 loads higher than last week and was 55 percent of the total loads sold.
Exports as reported on the Boxed Beef report represent primarily muscle cuts and they were at 666 loads which was 35 loads lower. North American Free Trade Agreement neighbors bought 150 loads and 516 loads were shipped overseas.
The outfront sales which won't be delivered for at least 22 days were at 1,149 loads which was 51 loads higher than last week. The largest outfront sales items were about 2.8 million lbs of various round products that were priced mostly $6 - 13 below the current formula prices but a few items were $2 - 9 higher.
Taking a look at the weekly average primal cut prices. The choice chuck and round were $5 - 7 higher this week. The Choice middle meats which are the loins and ribs were one to four lower.
The cow cutout and the 90 percent trimmings were both about steady compared to the previous Friday, after dropping for two weeks in a row which was unusual since it had been steady for about ten months.
The latest report of imported meat passed for entry into the US for June 13 showed that week we imported 22,704 metric tons of fresh beef which was about 3,100 metric tons lower than the previous week and equates to almost 50 million lbs imported for that one week. Year-to-date for the first 24 weeks of this year we are still running 35 percent higher fresh beef imports than last year and that is on top of last years jump in imports. Australia was 67 percent higher, and New Zealand was up 23 percent.
Listen to Ed Czerwein as he reports on the weekly wholesale boxed beef trade.
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