Agricultural News
Weekly Boxed Beef Report from Ed Czerwien
Tue, 27 Oct 2015 09:17:46 CDT
Weekly boxed beef trade for week ending Oct 24. The daily spot Choice box beef cutout ended the week last Friday at 217.17 which was 6.01 higher compared to previous Friday. There were 638 loads sold for the week in the daily box beef cutout compared to 726 loads last week. It was a little less than 10 % of the total volume.
The Comprehensive or weekly average Choice cutout which includes all types of sales including the daily spot cutout was 212.99 which was 5.79 higher are starting to catch up with the daily spot market.
There were 6483 total loads sold which was 101 loads higher than the previous week. The formula sales were at 3487 loads which was 96 lbs. higher than last week and was 53 percent of the total loads sold this week.
Exports as reported on the Box Beef report, represent primarily muscle cuts and they were at 744 loads which was 176 lbs. higher than the previous wk. 152 loads were sold to our NAFTA Neighbors and 592 loads were shipped overseas
The out-front sales which won't be delivered for at least 22 days were 1052 loads which was 22 loads higher than last week but a big drop compared to two weeks ago.
Taking a look at the weekly average primal cut prices. The Choice middle meats which are the rib and loin were 7-8 higher. The Choice chuck and round primals were both 5 higher and are starting to follow the normally seasonal increase in price during the fall as roasts return to the family menu.
The Cow Cutout was 6.94 lower at 183.33 on Friday. Those ninety percent trimmings ended the week 9.61 lower compared to the previous Friday at 222.76 but it has dropped about 60 dollars since the beginning of Sept.
The latest report of imported meat passed for entry into the US for week ending Oct 17 showed that week we imported 18,426 metric tons of fresh beef which was about 1500 metric tons lower and has dropped almost every week the last two months. Year to date for the first 42 weeks of this year we are running 26 % higher fresh beef imports than last year. Australia was 43 % higher and New Zealand was still up 20%. Australia was 64 % higher at the beginning of the summer and has dropped almost continuously since then. The 60 dollar drop in the domestic 90% trimmings recently has helped reduce fresh beef imports because a very high percentage of the imports are trimmings.
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