Agricultural News
Middle Meat Prices Fall in Latest Wholesale Beef Trade Report
Tue, 04 Aug 2015 05:33:06 CDT
Ed Czerwein with the USDA market news office in Amarillo reports that the latest weekly wholesale boxed beef sales report shows higher choice boxed cutout values in the US beef market- while the comprehensive cutout slipped in value compared to a week earlier. You can hear his commentary on the weekly beef trade by clicking on the LISTEN BAR at the bottom of this summary he has provided:
"Weekly boxed beef trade for week ending Aug 01 The daily spot Choice box beef cutout ended the week last Fri at 233.25 which was .55 hgr compared to prev fri. There were 672 loads sold for the week in the daily box beef cutout. It was almost 11 % of the total volume.
"The Comprehensive or weekly avg Ch cutout which includes all types of sales including the daily spot cutout was 231.94 which was 1.24 lwr. Last year we were in the midst of a large increase in the choice cutout that was supported by the demand for ground beef which pushed the round and chuck prices quite a bit higher along with the cow cutout but we have are not got that support this summer.
"There were 6272 total loads sold which was 131 loads hgr than the previous week. The formula sales were at 3380 loads which was exactly the same as last week and was 54 percent of the total loads sold.
"Exports as reported on the Bx Bf report represent primarily muscle cuts and they were at 547 loads which was 25 loads lwr. 123 loads were sold to our NAFTA Neighbors and 424 loads were shipped overseas.
"The out-front sales which won't be delivered for at least 22 days were 962 loads which was 29 loads hgr than last week. The biggest out front sales item was almost 2 million lbs of round products that were mostly 3-7 lower than avg Formula prices but there were some that were 5 over the avg formula. Also a few chuck items that were priced 2 lwr to 3 hgr than the current formula avg prices.
"Taking a look at the weekly avg primal cut prices. The Ch middle meats which are the loins and Ribs were 1-5 lwr. The choice chuck and the rnd was steady which again is a much tougher situation than last summer when they both skyrocketed.
"The Cow Cutout ended the week down 3.10 at 221.66 and the ninety percent trimmings were 5.88 lwr at 282.17 compared to the prev Friday. The cow meat had been getting weaker in recent weeks and 90% trim was about 295 a month ago. Cow runs at auctions continue to be small, which is a normal seasonal event but it has been probably smaller than normal due to good pasture conditions and herd rebuilding.
"The latest report of Imported meat passed for entry into the US for Jul 25 showed that week we imported 22,817 metric tons of fresh beef and equates to 50 million lbs imported for that one week. Ytd for the first 30 wks of this year we are still running 32 % higher fresh beef imports than last year and that is on top of last year's jump in imports. Australia was 58 % higher, and New Zealand was up 20%."
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