CZ Cattle Market Analytics analyst Ed Czerwien from Amarillo, TX, provides the following fed cattle and boxed beef recaps for the week ending Jan. 23, 2021.
Weekly boxed beef trade recap for week ending Jan 23:
The daily spot Choice box beef cutout ended the week on Friday Jan 22 at 222.82 which was $ 9.90 higher compared to previous Friday and climbing 16 dollars the last two weeks. Last year it was 214.49 on the same Friday which was $ 0.32 higher. This week the daily chuck and round primals were 5 to 8 higher. However, the daily Choice rib primal and loin primal were 10 to 19 higher as we approach Valentine’s Day which is normal now. The weekly total for the daily cutout was 663 loads and about 8 % of the weekly total loads sold.
The weekly average Choice cutout which includes all types of sales including the daily Choice cutout was 214.30 which was $5.32 higher.
There were 8393 total loads sold for the week which was 893 loads higher than the previous week and helped by very big exports.
The out-front sales which get delivered after 21 days were 2577 loads which was 612 loads higher than last week.
The exports as reported on the Box Beef report were 1949 loads which was the biggest number in quite a while and that was 1037 loads higher compared to the previous week. This week 105 loads were sold to our NAFTA neighbors and 1844 loads were going overseas
Formula sales were at 3591 loads which was 124 loads higher than last week and about 43 percent of the total loads sold this week.
Taking a look at the major primal cuts. The weekly average Choice Chuck and Round primal were 5 to 6 higher. The weekly average Choice loin primal was 11 higher and no doubt helped by Valentine’s Day sales. The weekly average Choice rib was 7 lower.
The daily cow cutout ended the week on Friday was $ 3.81 higher at 180.32 and the 90% trimmings were at 222.28 which was $ 6.23 higher compared to the previous Friday.
The latest report of Imported meat passed for entry into the U.S. for week ending Jan 16 showed 18,801 metric tons of fresh beef which was about 2000 higher than the previous week and about 2700 lower than last year. The year to date total for these imports is now 13 % lower than last year.
Weekly Fed cattle recap for week ending Jan 23:
The feedlot cattle trades for WE Jan 23 were mostly steady to 1 lower and the cash sales volume was lower than the previous week.
The Five-area formula sales volume totaled 240,004 head compared to about 237,000 the previous week. The Five-area total cash steer and heifer volume was 76,623 head compared to about 83,000 head the previous week.
Nationally reported forward contracted cattle harvested was about 45,000 head this week. The nationally reported 15-30 day delivery purchases this week were 24,059 head along with about 35,000 head the previous week.
Now looking at the prices. The weekly weighted average cash steer price for WE 01/23/21 for the five-area region was 109.23, which was $0.29 lower compared to the previous week and last year the same week it was 124.30 which was about $0.25 higher that week last year. The current five area weighted average live steer formula price was 112.64 this week but the live formula heifer price was 115.07.
The weighted average Five-area cash dressed steer price was 172.58 which was $0.48 lower. The five-area weighted average formula price which is steers and heifers was 178.91 which was $0.90 lower.
The estimated weekly total FIS cattle harvest was reported at 657,000 head which compared to 644,000 head the same week last year.
The latest average National steer carcass weight for WE Jan 09 was 923 lbs which was 3 lbs higher than the previous week and compared to 904 lbs the same week last year which was 8 lbs lower than the previous week last year.
Choice-Select spread on Friday was at 9.48 compared to 9.84 the previous week and that compared to 3.79 spread last year.
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