Weekly Boxed Beef Report from Ed CzerwienMon, 07 Dec 2015 18:48:42 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 December 5th. The daily spot Choice box beef cutout ended the week last Friday at $202.60. That was $1.80 lower compared to previous Friday. There were 651 loads sold for the week in the daily box beef cutout compared to 631 loads previous week. It was about ten percent of the total volume.
The comprehensive or weekly average Choice cutout which includes all types of sales including the daily spot cutout was $202.30 which was $5.88 lower.
There were 6,134 total loads sold which was 674 loads lower than the previous week. The formula sales were at 3,387 loads which was 107 loads higher than last week and was 55 percent of the total loads sold this week.
Exports as reported on the Boxed Beef report represent primarily muscle cuts and were at 574 loads which was 157 lower. North American Free Trade Agreement neighbors purchased 128 loads and 446 loads were shipped overseas.
The out-front sales which won’t be delivered for at least 22 days were 909 loads. That was 816 loads lower than last week.
Taking a look at the weekly average primal cut prices. The Choice middle meats which includes the rib which jumped tremendously during the last two months was $4 lower and the loin was $7 lower. The rib which has always been a big portion of the employee Christmas parties serving prime rib during mid December but has started its seasonal decline since buyers have already purchased what they needed. The Choice chuck and round primals were four to six lower.
The Cow Cutout was 2.61 higher at $169.15 on Friday. Those 90 percent trimmings ended the week at $207.10 which was about $6.86 higher compared to the previous Friday.
The latest report of imported meat passed for entry into the US for week ending November 28 showed that week we imported 12,609 metric tons of fresh beef which was about 2,800 metric tons lower than the previous week. Year-to-date for the first 48 weeks of this year we are running 20 percent higher fresh beef imports than last year but that has dropped almost weekly in the last few months. Australia was 29 percent higher dropping weekly from 65 percent in June. 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. The year to date numbers are still above a year ago because of the massive jump that took place earlier in the year.
Click on the LISTEN BAR below to listen to Ed's comments about the weekly boxed beef trade.
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