Weekly Boxed Beef Summary Shows Strength in Rib Meats- But Very Weak Cow BeefMon, 14 Dec 2015 20:40:54 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 Dec 12, 2015.
The daily spot Choice box beef cutout ended the week last Fri at $202.50 which was only 10 cents lower compared to previous Friday. There were 836 loads sold for the week in the daily box beef cutout compared to 651 loads previous week. This was about thirteen percent of the total volume.
The Comprehensive or weekly average Choice cutout which includes all types of sales including the daily spot cutout was $202.14 which was only 16 cents lower.
There were 6380 total loads sold which was 246 loads higher than the previous week. The formula sales were at 3589 loads which was 202 loads higher than last week and was 56 percent of the total loads sold this week.
Exports as reported on the Boxed Beef report represent primarily muscle cuts and were at 444 loads which was 130 fewer loads than a week ago. 149 loads were sold to our NAFTA Neighbors and 295 loads were shipped overseas.
The out-front sales which won’t be delivered for at least 22 days were 645 loads which was 264 loads lower than last week.
Taking a look at the weekly avg primal cut prices, the Choice middle meats which includes the rib which has jumped tremendously during the last two months was 5 dollars higher and the loin was $1 higher. The rib which has always been a big portion of Employee Christmas parties serving prime rib during the holidays. The Choice chuck was $3 lower and round primal was $1 higher.
The Cow Cutout was $10.31 lower for the week on Friday at $158.84. The ninety percent trimmings ended the week at $189.39 which was about $17.70 lower compared to the previous Friday.
The latest report of Imported meat passed for entry into the US for week ending December 5th showed that week we imported 17,644 metric tons of fresh beef which was more than the previous week but dropped the year to date down 2 %. Year to date for the first 49 wks of this year we are running 18 % higher fresh beef imports than last year. Australia dropped another 2% and was at 27 % higher than last year but was up as high as 65 % early this summer. The year to date numbers are still above a year ago because of the massive jump that took place earlier in the year.
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