Boxed Beef Report: Retailers Prepare for Labor Day GrillingMon, 17 Aug 2015 19:22:39 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 August 15 The daily spot Choice box beef cutout ended the week last Friday at $244.72 which was $8.38 higher compared to previous Friday. There were 559 loads sold for the week in the daily box beef cutout which was the smallest non holiday week this year. It was almost 10 percent of the total volume.
The comprehensive or weekly average Choice cutout which includes all types of sales including the daily spot cutout was $237.76 which was $4.73 higher.
There were 5,846 total loads sold which was 446 loads lower than the previous week. The formula sales were at 3,469 loads which was 68 loads higher than last week and was 59 percent of the total loads sold this week.
Exports as reported on the boxed beef report represent primarily muscle cuts and they were at 459 loads which was 35 loads lower. Sales to North American Free Trade Agreement neighbors totaled 107 loads and 352 loads were shipped overseas.
The outfront sales which won't be delivered for at least 22 days were 662 loads which was 349 loads lower than last week.
Taking a look at the weekly average primal cut prices. The Choice middle meats which are the loins and ribs were seven to ten higher indicating increased grilling demand as we approach this holiday. The choice chuck and the round were both two to three higher again this week, but very lacking compared to the rally that we saw last summer.
The cow cutout ended the week 2.81 higher at $224.29 and the ninety percent trimmings were $3.32 higher at $284.07 compared to the previous Friday rebounding after that big drop a couple of weeks ago. The Labor Day weekend has always been a very good grilling weekend for hamburgers and sausage products which are a big part of cow meat products. Those 90 percent trimmings had been trading in the $295 to $305 range thru much of the past 12 months. As we previously mentioned it really helped push the chuck and round products from finished cattle much higher last summer, since they were also used for ground beef.
The latest report of imported meat passed for entry into the US for August 08 showed that week we imported 22,290 metric tons of fresh beef and equates to 49 million pounds imported for that one week. Year-to-date for the first 32 weeks of this year we are still running 30 percent higher fresh beef imports than last year and that is on top of last year's increases. Australia was still at 56 percent higher, and New Zealand was up 19 percent.
Click on the LISTEN BAR below to listen to Ed's comments about the weekly boxed beef trade.
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