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Volume sold stays over 7,000 loads

Video-Volume sold stays over 7,000 loads

Ed Czerwien, market analyst based in Amarillo, Texas, offers a concise summary of last week's beef cutout trade.

The daily spot Choice box beef cutout ended the week of Friday, July 31 at $203.26 which was $1.49 higher compared to previous Friday. Last year, it was $214.73 on Friday. It is still climbing slightly higher and was $204.66 on Monday, August 3. It appears to be quickly approaching the Labor Day grilling rally. The weekly total for the daily cutout was 627 loads which was about 9% of the weekly total loads sold. 

The weekly average Choice cutout which includes all types of sales, including the daily Choice cutout, was $200.39 which was $1.02 higher, slowly following the daily Choice cutout which has also been creeping higher prior to the next grilling holiday. Last year, we saw a bigger jump higher during Labor Day because of the big packing plant fire.

There were 7,028 total loads sold for the week which was 725 loads lower than the previous week however, still very good volume with over 7,000 loads. The exports as reported on the Box Beef report continue to be very good and were 1,120 loads, which really helped keep the total loads sold above 7,000 loads.

TAGS: Marketing
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