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Meat Market Update | Exports prop up Box Beef report

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.

Exports as reported on the Box Beef report were tremendous with 1,361 loads, 339 loads higher compared to the previous week. The four-week moving average graph of box beef export numbers has climbed back up to the highest point in the last few years thanks to the tremendous work done by the U.S. Meat Export Federation. The large FIS cattle harvest numbers this year points to how important these increased export numbers are to the cattle industry.

The daily spot Choice box beef cutout ended the week last Friday at $203.30 which was $3.44 higher compared to previous Friday, pulled up by another $9 rally in the daily Choice rib primal. However, it did continue to rally $3 higher on the following Tuesday helped by the daily Choice loin primal that jumped $6 that one day.

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