Meat Market Update | Export and out-front sales lead the wayMeat Market Update | Export and out-front sales lead the way
Ed Czerwien, market analyst based in Amarillo, Texas, offers a concise summary of how last week's beef trade impacted the cattle market and beef prices.
The weekly average Choice cutout moved lower this week, even though the daily Choice cutout ended the weeker higher for the third week in a row. The weekly cutout, which includes all types of sales including the daily Choice cutout, $215.68, only $1.39 down for the week.
The big news this week was the fact that the daily cash sales were higher along with many formula sales which would have been based on the previous week's higher cash sales which indicates that the out-front and export sales probably had some decreasing prices.
Sales volume was very big with 7,254 total loads sold for the week which was 313 loads higher than the previous week. It was helped by a big jump in the export sales that were 1,512 loads along with continued bigger out-front sales over 2,000 loads that together were 49% of the total sales.
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