Choice Boxed Beef Trade Prices Jump Ten Dollars in Latest Reporting Week- Ed Czerwein ReportsTue, 19 Apr 2016 04:48:00 CDT
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 his report of weekly boxed beef trade for the week ending April 16th. (At the bottom of his commentary, you can click on the LISTEN BAR and hear Ed's comments.
Czerwein reports that the "big item this week was the fact that most of the out front sales were priced higher than the average formula sales, which has not been the case for quite some time. The daily spot Choice box beef cutout ended the week last Friday at $225.13 which was $10.33 higher compared to previous week. There were 707 loads sold for the week in the daily box beef cutout which was about/almost 12% of the total volume.
"The Comprehensive or weekly average Choice cutout which includes all types of sales including the daily spot cutout was $218.67 which was $2.33 higher.
"There were 6046 total loads sold which was 462 loads less than the previous week. The formula sales were at 3153 loads which was 9 loads higher than last week and it was about 52 percent of the total loads sold this week.
"Exports as reported on the Boxed Beef report represent primarily muscle cuts and were 712 loads which was 24 loads lower. 122 loads were sold to our NAFTA Neighbors and 590 loads were shipped overseas.
"The out-front sales which won’t be delivered for at least 22 days totalled 968 loads which was 142 loads lower than last week but an important number because of the prices. The biggest outfront sales this week were almost 2 million pounds of middle meat steak items, ribeyes, shortloins and tenderloins whose average outfront prices were $12-24 above week ago average prices. Around 1.5 million pounds of brisket were 3 dollars higher versus a week ago and 750,000 pounds of inside and outside round were $10-12 above a week ago. In addition, 750,000 pounds of chuck rolls was only $2 below week ago levels.
"Taking a look at the weekly average primal cut prices- The Choice chuck and the round primal were both $2-4 higher. The Choice middle meats, including the rib and loin were $2-3 higher this week. Ribs and loins finally started to return to the normal seasonal rally but weather has been a very limiting factor for grilling in many areas this past month which curtailed sales.
"The daily Cow Cutout was almost $1.50 higher at $174.70 and 90 % trimmings were about $2.50 higher at $220.09 compared to the previous Friday.
"The latest report of Imported meat passed for entry into the US for week ending Apr 9 showed that week we passed for import 21,809 metric tons of fresh beef which was about 1400 metric tons higher than the previous week and 4500 metric tons below last year. The Year to date Total Tonnage was 13 % below last year. Australia was down 27 % and New Zealand was down 12 % compared to last year but Canada was up 4 % and Mexico was up 15%.
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