Weekly boxed beef trade for week ending June 22, 2019
Weekly boxed beef trade for week ending Jun 22
The daily spot Choice box beef cutout ended the week last Friday at 219.82 which was 2.41 lower compared to previous Friday. The same day last year it was 217.16 which was over 4 lower. The daily Choice Rib and Loin primal were 5-6 lower but not dropping near as much as it did last year when the rib primal was 18 lower.
There were 617 loads sold for the week in the daily box beef cutout which was about 9% of the tot sales.
The weekly average Choice cutout which includes all types of sales including the daily Choice cutout was 216.82 which was 3.02 lower pulled down by big declining rib and loin prices after last week's improvement.
There were 6931 total loads sold for the week which was 40 loads lower than the previous week.
The out-front sales which get delivered after 21 days were 1359 loads which was 107 loads lower than last week. The largest out-front sales this week included over a million lbs each for Choice Rib and Choice loin products that were 58-113 dollars per cwt lower than the avg formula price for the same products.
Exports as reported on the Box Beef report were 1064 loads and that was only 55 loads lower compared to the previous week. 148 loads were sold to our NAFTA neighbors and 916 loads were going overseas.
Formula sales were at 3514 loads which was 117 loads lower than last week and about 51 percent of the total loads sold this week.
Taking a look at the major primal cuts. The weekly average Choice rib and loin primal were both 9 lower. The weekly average Choice Chuck and round primal were 1 lower to 1 higher.
The daily cow cutout ended the week $ 0.53 higher at 175.22 on Friday and the 90% trimmings were at 224.71 on Friday which was $ 0.03 higher compared to the previous Friday.
The latest report of Imported meat passed for entry into the US for week ending Jun 15 showed 22,121 metric tons of fresh beef which was only about 100 metric tons lower than the previous week but over 2000 lower than last year which pushed the year to date total down a little.
Year to date total for imports was 7% higher than last year dropping from 8% the previous week.
Looking at the year to date import totals for the top 4 countries Australia was 13% higher, Canada was 16% higher, New Zealand was 23% lower, and Mexico was 18% higher.
By: Ed Czerwien