Ed Czerwien, USDA Market News reporter in Amarillo, TX, provides us with the latest outlook on boxed beef prices and the weekly cattle trade.
The weekly box beef report showed a prce increase of $2.49 and a big jump in volume. The total volume sold for the week was 6,761 loads, which was an increase of 889 loads. The out-front sales more than doubled and were 1,428 loads for the week. This was up 775 loads and made up most of that 889 load increase.
An important note is that round and chuck products, along with top butts, accounted for a large portion of out-front sales. The average prices for these products sold out-front were $7-$24 dollars below current prices. However, there were some tenderloins which averaged about $18 above the current market.
These out-front sales really helped increase weekly sales volume, but a majority of the products were actually priced lower than our current week prices.
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