Agricultural News
As Cattle Prices Jump, Boxed Beef Sales Drop in Volume
Mon, 20 Oct 2014 12:41:42 CDT
On a regular basis, Ed Czerwein of the USDA 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 October 18th. The daily spot choice box beef cutout ended the week last Friday at $249.16 which was a $1.49 higher than the previous week but topped out on Wednesday then dropped a little later in the week. There were 748 loads sold for the week in the daily box beef cutout, which was about 140 loads less than the previous week and was about 12 percent of the total volume.
Click on the LISTEN BAR below to listen to Ed's comments about the weekly boxed beef trade.
The comprehensive or weekly average choice cutout which includes all types of sales was $246.71 which was $3.23 higher. The total reported box beef volume was 6,115 loads which was 526 loads less than the previous week and was the lowest level since mid August.
The formula sales were at 3,427 loads which was 80 lower than last week and 56 percent of the total loads sold. Once again as prices jump and other types of sales drop off in volume the formula sales increase as a percentage of total sales.
Exports as reported on the weekly box beef report are predominately muscle cuts and they were only at 539 loads which was 96 loads less than the previous week and that compares to many weeks of 800-1,000 loads per week during the last couple of years. This declining volume continues to show the strong influence of rising prices coupled with the increasing value of the dollar.
The most recent out-front sales were at 672 loads, which was down 208 loads and is a long way from the 1,600-1,700 loads that occurred during the massive peak in September. Out front sales don't get delivered for at least 22 days or longer after they are bought. We should still have some impact from the big numbers in September but they should start to diminish their impact.
The cow cutout and ninety percent trimmings ended the week on Friday both just a little weaker but almost steady.
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