CZ Cattle Market Analytics analyst Ed Czerwien from Amarillo, TX, provides the following fed cattle and boxed beef recaps for the week ending Feb. 20, 2021.
Weekly fed cattle recap for week ending Feb. 20, 2021:
The feedlot cattle trades for WE Feb 20 were steady to 1 higher and the cash sales volume was just slightly lower than the previous week.
The Five-area formula sales volume totaled 187,657 head compared to about 216,000 the previous week. The Five-area total cash steer and heifer volume was 60,554 head compared to about 62,000 head the previous week.
Nationally reported forward contracted cattle harvested was about 36,000 head this week. The nationally reported 15-30 day delivery purchases this week were 23,859 head along with about 22,000 head the previous week.
Now looking at the prices. The weekly weighted average cash steer price for WE 02/20/21 for the five-area region was 114.07, which was $0.24 higher compared to the previous week and last year the same week it was 119.71 which was about $0.80 higher that week last year. The current five area weighted average live steer formula price was 116.41 this week but the live formula heifer price was 118.67.
The weighted average Five-area cash dressed steer price was 180.57 which was $0.47 higher. The five-area weighted average formula price which is steers and heifers was 184.53 which was $1.41 higher.
The estimated weekly total FIS cattle harvest was reported at 552,000 head impacted by massive Winter storms and compared to 626,000 head the same week last year.
The latest average National steer carcass weight for WE Feb 06 was 919 lbs which was 1 lbs lower than the previous week and compared to 903 lbs the same week last year which was 6 lbs higher than the previous week last year.
Choice-Select spread on Friday was at 11.33 compared to 11.44 the previous week and that compared to 3.39 spread last year.
Weekly boxed beef recap for week ending Feb. 20, 2021:
Weekly boxed beef trade recap for week ending Feb 20
The daily spot Choice box beef cutout ended the week on Friday Feb 19 at 239.23 which was $6.86 higher compared to previous Friday. Last year it was 205.09 on the same Friday which was $ 3.00 lower.
The end of this week the daily chuck and round primals were 5 to 9 higher and the daily Choice rib and loin primal were also 5 to 9 higher. The weekly total for the daily cutout was 427 loads and about 7 % of the weekly total loads sold.
The weekly average Choice cutout which includes all types of sales including the daily Choice cutout was 231.12 which was $2.45 higher.
There were 5718 total loads sold for the week which was 452 loads lower than the previous week and again the lowest number in a while and no doubt caused by many big storms.
The out-front sales which get delivered after 21 days were 962 loads which was 37 loads lower than last week.
The exports as reported on the Box Beef report were 781 loads which was 143 loads higher compared to the previous week. This week 133 loads were sold to our NAFTA neighbors and 648 loads were going overseas.
Formula sales were at 3170 loads which was 184 loads lower than last week and about 55 percent of the total loads sold this week.
Taking a look at the major primal cuts which impact the cutout value. The weekly average Choice Chuck and Round primal were 1 lower to 2 higher. The weekly average Choice Loin primal was 4 higher and the weekly average Choice Rib was 8 higher.
The daily cow cutout ended the week on Friday was $ 2.41 higher at 184.66 and the 90% trimmings were at 227.14 which was $ 3.07 higher compared to the previous Friday.
The latest report of Imported meat passed for entry into the U.S. for week ending Feb 13 showed 18,090 metric tons of fresh beef which was about 300 higher than the previous week and about 500 lower than last year. The year to date total for these imports is now 9 % lower than last year.
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