Agricultural News
Weekly Sales, Exports and Out-Front Sales Jump in Latest Boxed Beef Report
Mon, 16 Nov 2015 17:54:21 CST
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 November 14th The daily spot Choice box beef cutout ended the week last Friday at $209.30 which was $6.36 lower compared to previous Friday. There were 754 loads sold for the week in the daily box beef cutout compared to 693 loads last 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 $213.78 which was $2.33 lower. There were 6,608 total loads sold which was 634 loads higher than the previous week. The formula sales were at 3,295 loads which was 70 loads lower than last week but was 50 percent of the total loads sold this week.
Exports as reported on the boxed beef report represent primarily muscle cuts and they really jumped higher than they have been in some time and were at 1,128 loads which was 556 loads higher than the previous week. North American Free Trade Agreement neighbors bought 164 loads and 964 loads were shipped overseas.
The out-front sales which won't be delivered for at least 22 days were 1,284 loads which was 480 loads higher than last week and typical for this time of the year.
Taking a look at the weekly average primal cut prices. The Choice middle meats which includes the rib which was $7 higher and another big jump following the normal seasonal rally this time of the year. The rib was the primal that carried the Choice cut out higher last year until late November. It appears to be offering support again this year but the other primals are not helping much. The loin was three lower. The Choice chuck and round primals were both four lower.
The Cow Cutout was $5.45 lower at $172.18 on Friday. Those 90 percent trimmings ended the week at $208.20 which was $8.49 lower compared to the previous Friday making it almost $75 lower since the first week of September. Most of the last year it was $295 - $303.
The latest report of imported meat passed for entry into the US for week ending November 7 showed that week we imported 15,904 metric tons of fresh beef which was 2,700 metric tons lower. Year-to-date for the first 44 weeks of this year we are running 23 percent higher fresh beef imports than last year but that has dropped almost weekly in the last few months. Australia was 35 percent higher dropping weekly from 65 percent earlier in the summer, but New Zealand was still up 20 percent. Fresh beef imports have been stair stepping down for the last few months and most of the recent weeks have been below a year ago.
Click on the LISTEN BAR below to listen to Ed's comments about the weekly boxed beef trade.
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