Seasonal Drop in Boxed Beef Prices Seen This Past Week by Market News Reporter Ed CzerweinTue, 16 Feb 2016 03:35:33 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 February 13th- you can listen to Ed's commentary on the trade by clicking on the LISTEN BAr below.
The daily spot Choice box beef cutout ended the week last Friday at $216.08 which was $4.52 lower compared to the previous Friday. There were 675 loads sold for the week in the daily box beef cutout which was about 12 percent of the total volume.
The Comprehensive or weekly average Choice cutout which includes all types of sales including the daily spot cutout was $215.67 which was 0.97 lower.
However, this is the time of the year when we normally drop. Last year we dropped 18 dollars from the end of January to the end of February but then started the spring barbeque rally.
There were 5437 total loads sold which were 18 loads higher than the previous week. The formula sales were at 3161 loads which was one load larger than last week and it was about 58 percent of the total loads sold this week.
Exports as reported on the Boxed Beef report represent primarily muscle cuts and were 386 loads which was 62 lower. 118 loads were sold to our NAFTA Neighbors and 268 loads were shipped overseas.
The out-front sales which won’t be delivered for at least 22 days totalled 540 loads which was 51 loads lower than last week
Taking a look at the weekly avg primal cut prices. The Choice middle meats showed the rib was $4 higher and the loin was $2 lower. Both of these items normally start a seasonal rally as we approach the grilling season. The Choice chuck was $1 lower and the round primal was steady.
The daily Cow Cutout and 90 % trimmings were both lower on Friday after several weeks of increases. The cow cutout was $1.21 lower and those ninety percent trimmings ended the week at $209.34 which was $2 lower. The 90’s were $191 at Christmas.
The latest report of Imported meat passed for entry into the US for week ending February 6th showed that week we imported 20,805 metric tons of fresh beef which was about 2000 metric tons lower than the previous week. The Year to date Total Tonnage was still 15 percent below last year. Australia was down 29 percent and New Zealand was down 11 percent compared to last year but Canada was up 5 percent and Mexico was up 18 percent.
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