Weekly Meat Market Update 2 – 13

Author: Marvale Jones

Date: February 13, 2017

Live Cattle prices moved lower again last week selling at $116 to $120 Cwt., mainly down $2-3 versus the week prior. Continued soft demand and concerns about lower wholesale boxed beef prices moving forward continued to weigh on the market. Live cattle prices are expected to hold about steady or could retreat slightly again this week due to slow demand for cattle.

 

Cutout values held about steady overall. Rib and Round values overall moved slightly lower while Chuck and Loin values moved slightly higher. This week the cutout has lost ground to begin the week and will continue to work lower later this week due to soft demand in both retail and foodservice channels.

 

ROUNDS
Prices remained about steady to slightly lower on all round meats to end last week. Expect prices to remain steady or move slightly lower this week due to increasing supplies.
 
Insides- Prices moved slightly lower as slow demand pushed inventories higher. This week prices have continued to drift lower as supplies are adequate and demand is slow.

Flats- Prices moved slightly lower to end last week due to slow demand and increased inventory. This week prices are holding about steady to slightly lower with supplies increasing and demand slowing.

Eyes- Eyes prices remained steady to slightly lower last week due to slower demand and increasing supplies. Expect steady to slightly lower prices this week due to slower demand and increasing supplies.

Peeled Knuckles- Peeled Knuckles prices were about steady to slightly lower to end last week. Expect steady to slightly higher prices into next week due to slower demand from processors and retailers.

 

LOINS
Prices remained about steady to slightly lower on all middle meats to end last week due to increasing supplies and slower demand, with the exception of Top Butts and Tri Tips which moved slightly higher. Expect prices to soften slightly as inventories are growing and demand slows slightly.

Strips- Strip prices moved lower last week on Choice due to increasing supplies and slower demand. This week prices have moved lower to some instances sharply lower due to growing supplies and seasonally slow demand.

Short loins- Markets were lower for Choice and stronger on Select Short loins. Expect these trends to continue by grade into next week as well.

Top Butts-Top Butt prices remained steady to slightly higher to end last week. Expect steady to slightly higher prices due to high processor demands at lower  prices.

Ball Tips- Prices remained about steady last week. Expect steady to slightly lower prices into next week as supplies increase and demand slows seasonally.

Tri Tips- Prices held about steady to slightly higher to end last week due to continued good demand and tight supplies. . Expect prices to hold about steady into next week.

Tenderloins- Prices held about steady last week as an increase in demand for Valentine’s Day helped clear extra supplies, with Select prices actually running higher than Choice product. Expect prices to move lower next week due to slower demand for product after Valentine’s Day.

 

RIBS
Prices last week moved slightly higher on all sizes of Choice and Select Ribeyes. Expect prices to move back higher due to an increase in demand before Valentine’s Day.

Ribeyes- Prices on all Choice Ribeyes moved lower slightly higher last week due to increased demand for Valentine’s Day. This week prices are holding about steady or increasing slightly as supplies are tightening. Expect prices to move slightly lower next week as supplies will increase due to slower demand.

BI Ribeye’s and 109 Ribs- Prices on all Bone-In Ribs moved slightly higher last week. Expect prices to decrease slightly due to increase supplies and softer demand.

 

CHUCKS
Prices remained mostly steady to slightly lower on all Chuck Meat to end last week, with the exception of Teres Major which moved higher. All Thin Meats held about steady to slightly higher due to increased demand and tighter supplies.

Chuck Rolls- Chuck Rolls prices moved lower last week as heavy supplies and slow demand weighed on the market. Expect prices to stabilize and increase slightly next week due to better demand from retail due to attractive prices for features.

Clods- Markets held mostly steady last week. This week prices have turned back lower due to increasing supplies and slow demand.

Chuck Tenders- Prices last week were mostly steady due to better demand. Expect prices to work lower next week due to increasing supplies in light of lower prices on other lean cuts.

Teres Major- Prices moved slightly higher last week. This week prices have moved higher as well due to tighter supplies and increasing demand.

 

THIN MEATS AND GRINDS
Flanks- Flank prices remained firm or increased slightly last week due to demand remaining strong. This week prices have held firm as well. Expect steady to higher prices next week as demand should pick up moving forward.

Flap Meat-Flap Meat prices held mostly steady last week. This week prices have started to work lower due to an increase in supplies.

Briskets- Brisket prices turned lower late last week due to an increase in supplies and slower processor demand. This week prices remain on the soft side as supplies are increasing and demand has been disappointing.

Skirt Meat- All skirt prices were mostly steady to slightly higher. This week prices have moved slightly higher due to limited supplies and increasing demand.

Special Trim, Blade Meat and Pectoral Meat- Prices were slightly lower last week due to increasing inventory. This week prices are holding about steady due to slow demand.

Grinds- Ground beef prices moved lower last week due to slower demand and more product available for sale. This week prices are also moving lower on all blends as demand remains soft and supplies continue to grow.

 

PORK
Live Hog prices moved decidedly higher last week with packers paying as much as $3.00 Cwt. higher than the week prior. With Hog numbers tightening from late 2016 and demand remaining strong for pork overall, packers continue to bid up prices to cover production.
 
Cutout prices were slightly lower last week. Many of the retail and foodservice cuts actually moved lower wit Loins and Hams leading the way. Bellies were the only component that moved higher and again helped offset most of the other downturns in markets to keep the cutout only slightly lower.

Loins-Bone-in Loin and Boneless Loin prices remained about steady to slightly lower to end last week. Expect prices to start to move lower into next week as demand slows and supplies grow.

Butts- Butt prices were steady to slightly lower last week. This week prices are also moving slightly higher due to better demand particularly from export markets. Expect slightly higher prices next week due to continued good demand.

Ribs- Sparerib prices were steady last week on all sizes. This week prices have increased slightly due increased demand from processors wanting to put Ribs down for the summer.

Trim- Prices ended the week about steady to slightly lower on leaner trim and lower on fat trim. This week prices are holding about steady but expect prices to lower slightly moving into next week as supplies grow
.
Picnics- Market is lower on Boneless Picnics and steady on Cushion Meat.

Related Posts

Weekly Meat Market Update 2 – 6 View
7 Monks Taproom plans Grand Rapids location on Michigan Street View
The Restaurant Formula – Video 3 View
Weekly Meat Market Update 2 – 27 View