Des Moines, Iowa Friday, May 30, 2014 USDA LPS Market News
National Carlot Meat Trade Review ***Last Report***
Week Ending: Thursday, May 29, 2014
***Please note this report will be discontinued on Friday, June 6, 2014***
This report is a summary of daily markets that can be found by visiting the
individual links to the sourced market reports below.
CARCASS PRICE EQUIVALENT INDEX VALUES
The carcass price equivalent index value of a Choice 600-900 lbs carcass was
0.59 higher at 217.48; Select 600-900 lbs carcass was 1.86 higher at 206.88
compared to last Friday.
FABRICATED BOXED BEEF CUTS AND BEEF CUTOUT VALUE
For the week, Boxed Beef cutout values were firm to higher on moderate to
fairly good demand and light to moderate offerings. Packers continued to
inch prices higher during the shortened holiday week, but gains were more
gradual compared to the previous session. By Thursday, there was definite
evidence of moderate weakness in the negotiated market. The rib and loin
primals generated the most gains as demand for higher quality cuts remains
fairly good. The chuck primal was firm for the session but most round cuts
remained relatively steady. Fed ground beef prices were mostly firm with
the exception of ground chuck which trended weaker. Beef trimmings were
mostly steady with some lower priced trades making their way onto the
report during the week. Forward negotiated sales were light to moderate
with the only major consignment being ground chuck at prices comparable to
the spot market report.
For the week: Select and Choice rib primal 1.00 to 3.00 higher; Select
and Choice chuck primal 1.00 to 2.00 higher; Select and Choice round primal
generally steady; Choice and Select loin primal 5.00 higher; Beef trimmings
were mostly steady; Fed Ground beef were mostly steady to firm .
Composite of Boxed Beef Cutout Values: Choice 600/900# carcasses up
1.67 at 233.65 while Select 600/900# carcasses up 2.86 at 223.77 when
compared to last Friday.
COW AND BULL CARCASS, BONELESS PROCESSING BEEF, CUTTER COW CUTOUT
Lean boneless processing beef generally steady. Trimmings were mostly
firm to higher. Demand was moderate for moderate offerings. Trading
activity was moderate to active. Early week sales were stronger as
buyers restocked their inventories after the holiday weekend.
Market activity on imports was slow on light demand and heavy offerings.
Prices were mostly weak to 1.00 lower. Slow early week sales and heavy
import supplies pressured prices. The seasonal slaughter continued to set
records in Australia and New Zealand.
Cutter cow cutout values were steady to weak. Rib, loin and flank items
were mostly higher while chuck and round items were mixed. 100% lean items
were mixed. Trading was moderate and supplies of cow product were light.
Lean boneless beef 92-94% generally steady; 90% generally steady; 85%
firm to higher; 81% steady; 75% 1.00 to 2.00 higher; 65% firm to higher;
Other lean percentages were not fully established. 100% lean combo items
were mixed. The cutter cow carcass gross cutout value for Thursday, May 29,
2014 was estimated at $195.23 per cwt, 0.10 lower compared to last Friday.
BY-PRODUCTS: VARIETY MEATS, TALLOWS, PROTEINS, AND HIDES
Trading on beef variety meats was very slow throughout this holiday
shortened week. Sausage materials were the only reported trading. Cheek
meat and head meat ended steady on moderate demand and offerings.
Pork variety meats experienced moderate trading this week. Good export
demand prompted higher prices on hearts, ears and tongues. On the domestic
market improved demand prompted slightly higher prices on salivary glands
while partial lean snoots with mask ended generally steady with the most
Tallows and greases experienced slow trading this week. Central choice
white grease finished steady while yellow grease moved higher. Biofuel and
feed fat demand was moderate for light to moderate offerings. Chicago
edible tallow ended steady on light demand and offerings. The export
markets were quiet.
Market activity on protein feed supplements was moderate to active.
Good pet food demand prompted higher prices on ruminant and pork meat and
bone meal. Blood meal also saw improved demand. Beef and pork blood meal
prices all finished higher.
Trading on major packer hides was slow this week. The market remains in
good shape with packers current in their offerings. Tanners continued to
resist with low bids. In light tests, Heavy Texas Steers finished steady
while Branded Heifers moved slightly higher.
Beef Variety Meats: Beef cheeks domestic steady; head meat 60-70% lean
Pork Variety Meats: ears edible export 17.00 higher than most recent
test; hearts single slashed export 3.00 higher; kidneys, small box export
2.00 lower; salivary glands 1.00 higher than latest established market;
snoots partial lean with mask generally steady with most recent test;
tongues green boneless tip-on export 24.00 higher than most recent test.
Central choice white grease steady; Central yellow grease 2.00 higher
than most recent test; ECB yellow grease 0.50 higher; Chicago edible tallow
steady; Central meat and bone meal steady to 5.00 higher; Panhandle meat and
bone meal steady to 10.00 higher; Central pork meat and bone meal mostly
15.00 higher; ECB pork meat and bone meal steady to 15.00 higher; Central
blood meal 30.00 higher; Panhandle blood meal 25.00-130.00 higher; pork
Central blood meal 50.00 higher; ECB pork blood meal 50.00 higher; Butt
Branded Steer hides 1.00 higher; Heavy Texas Steer hides steady.
The average value of hide and offal for the three days ending May 29,
2014, was estimated at 15.70 per cwt., up 0.05 from last week and up 1.60
from last year.
NORTHEAST COAST AND NORTH CENTRAL VEAL CARCASS, CUTS
Compared to last week: The special fed veal carcass market was firm to
higher on open market packer owned calves with moderate demand and light
to moderate offerings.
Harvest numbers were 5.7 percent higher compared to last week's total.
Dressed weights were down 4.2 pounds in the Northeast, down 1.2 pounds in
the North Central, with the total NE & NC being down 2.9 pounds.
Compared to last week: Special fed veal cut prices were mostly steady,
with some chuck and loin items firmer. Veal retail feature activity index
rose modestly the week before Memorial Day. Individual veal item specials
were spread out evenly among items as prices were generally steady.
LAMB: CARCASS & PELTS
Carcass lamb sales for the week were mixed, as of 5/29/2014: 45# and down
weight carcasses 29.62 lower; 45-55# carcasses 9.72 lower; 55-75# carcasses
were 3.87 to 4.99 higher; over 75# carcasses 0.62 to 1.48 higher. The
estimated National Lamb Carcass Cutout Report was 6.27 lower compared to
last week at 326.70.
Pelt activity this week compared to last report: Pelt prices were steady
to 1.00 lower this week. The global market has continued to worsen as strong
overseas kill numbers have caused pelt inventories to increase and saturate
the industry. Pressure has been noted on pelts with an inch or less of
growth and in some cases no value to salt. Lower quality pelts have become
a challenge to find buyers as current prices are being resisted. Buyers
abroad are not even returning to sellers with bids after the initial
offering to them at much lower money.
Source: USDA Market News Service, Des Moines, IA
Lucy Clark 515-284-4460 Desm.LGMN@ams.usda.gov
24 Hour recorded market information 515-284-4830