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 Daily Choice Cutout ended the week at 201.16, which was 1.63 lower than the previous Friday. The weekly total for the spot volume was 756 loads, which was only 11% of the total sales for the week.
While formula trade was lower this week, it still accounted for 47% of the overall trade. In fact, the formula trade helped buffer the declining negotiated trades, as well as a jump in out front sales.